In our whitepaper, Creating a Customer Focused Marketing Technology Strategy, we recommend the steps marketers should go through to create an effective marketing technology strategy. Part of the process involves an assessment using our Marketnology Assessment Plan (MAP). In successive blog entries, we’ll share some of the whitepaper’s content based on the MAP. We’ll start with understanding your Current Situation.
The Current State
When using the GPS to guide your driving route, the navigation system always needs to know your starting point. After all, just knowing your desired destination doesn’t support a dynamic, turn-by-turn plan for reaching the destination. The same is true for the marketing technology strategy. A close assessment of your current situation is vital to understanding the path necessary to achieve your marketing technology goals. Additionally, the Current Situation is an ideal time to contrast the future state you would like to see.
One of the most tried and true methods for determining where an organization stands currently is the Strength Weakness Opportunity Threat (SWOT) analysis. The questions below are the marketing technology strategy version of that technique.
- What does your current technology portfolio do well and are these areas in which you wish to continue doing well?
- How is your current infrastructure deficient as compared to what you see elsewhere in your organization or in the competitive environment?
- Where do you think your organization (i.e. company, division, department, etc.) has the ability to use technology to strengthen the execution of marketing campaigns?
- Where do you see your organization falling behind in terms of competitors? Can you list and prioritize the threats in decreasing order (most important threat at the top of the list)?
- What competitors of yours represent the biggest threats and, specifically, what are the top two or three threats represented presented by each of those competitors?
- How would you describe your organization’s general familiarity with marketing technology overall?
- What is your nirvana vision?
- What would be in place for you to feel like you could stop worrying about marketing technologies and focus on marketing?
- Do you think there’s a low hanging fruit challenge that marketing technologies could help you solve in the near-term future?
These questions can help you understand your current state so you’re better able to decide where it is you want to go.