Five Ways to Pinpoint Martech Inefficiencies During COVID-19 Economic Fallout

Posted on by Chief Marketer Staff

The COVID-19 pandemic and the economic fallout caused by it have forced marketing organizations to take a hard look at where to create efficiencies. According to a piece in AdExchanger from Adform’s Julian Baring, rather than rushing to downsize human capital, companies should examine their martech stacks in order to determine potential cost savings.

As martech solutions have expanded over the past decade, Baring writes, one result of the innovation has been the fragmentation of solutions. But there are numerous ways marketers can look for redundancies.

First, look for licensing costs accrued for using technologies across departments. It’s possible that those costs have inflated and can be avoided by deploying a single solution. There could also be hidden costs lurking in operational costs, due to the need for data to flow properly across systems and employees requiring training. Marketers should examine service fees as well, as there might be overlap between different agency contracts.

Inefficiencies due to lack of communication between various systems, in terms of loss of actionable insights, is another category to examine. And finally, the tech solutions themselves might provide duplicate functions. For a deeper look at Baring’s recommendations, read more in AdExchanger.


Other articles you might enjoy:

More

Related Posts

Chief Marketer Videos

by Chief Marketer Staff

“Trapped in Advertising” sounds like a hashtag you might use after a bad day at work, but for Pringles and Adult Swim, it was a year-long, pop culture-forward campaign aimed at ad-averse 18- to 35-year-old “Rick and Morty” fans. The goal was to sustain engagement and become part of the cultural conversation in order to…

	
        

PRO Awards

ProAwards

Click here to view the 2021 winners.
Information on 2022 coming soon!
	
        

CHIEF MARKETER 200 Winners Announced

CM 200

Click here to to view the full list of the 2022 winners!