Technology changes at a much faster pace than the ability of organisations to keep up with the change. A good MarTech strategy with a robust governance mechanism can be effective in bridging the gap and empowering marketers with the right set of ammunition.
Maximizing ROI from MarTech investments is a continuous activity. While the core purpose of these investments is to lead to improved customer experience, many processes need to be put in place to support it.
With multiple teams involved with cross functional dependencies, MarTech governance is highly critical and requires executive sponsorship. Traditionally, Marketing and IT tend to be on opposite sides of the table when it comes to investments. Increasingly, there is realisation of the benefits of having a collaborative approach. Marketing teams need to be on top of all the data available within the organisation and how different systems integrate with each other. They should also be aware of the dependencies and constraints in the ecosystem. Similarly, IT units need to be on top of the business vision and what the business teams are trying to accomplish.
Not just the CDO, CMO, CIO and CISO, the governance team should have a mix of CXOs who have full visibility and provide thought leadership all along the way. For execution, the Marketing Operations team, a cross functional team should be in place to design, govern and optimize processes and improve performance. The team is a core component in driving MarTech adoption daily. They help in creating a data driven culture within the organisation.