MarTech: Process, Platform, Plan & People equally important for growth: Carlos Doughty
Doughty, CEO & Founder at MarTech Alliance, explains how the 4Ps of marketing technology can help drive business goals
The words martech and marketing technology are used 678.7K times online and on social media per annum. When CEO & Founder at MarTech Alliance Carlos Doughty took to the stage at exchagne4media MarTech Conference and Expo on Friday, he spoke at length on how and why is martech so relevant for a brand.
“As many as 62 per cent of CMOs plan to drastically increase martech spend in 2019 and 29 per cent of marketing budgets are dedicated to martech. This itself narrates how important marketing technology is in today’s business ecosystem,” said Doughty.
Doughty explained the 4Ps of marketing in reference to using marketing technology in the right direction. He elaborated that Process, Platform, Plan and People are equally important for the growth of an organisation, and every marketing plan needs a pillar dedicated to martech. “The 4Ps’ scoring matrix and patronisation process will help create a roadmap to drive your business goals,” he said.
“Martceh strategy is a part of your overall marketing strategy. Wrap your martech plans around your business goals and customer journey. Audit current 4Ps before you start any new initiatives. Get a holistic view of your plans. Map your audit to roadmap your marketing tech plans,” he added.
Interestingly, according to Doughty, 45 per cent of companies lack the skill or people to manage martech properly. “Identify the skills and knowledge you need to deliver your roadmap. From up skilling & restructuring your existing team and hiring new staff to adding consultancy partners, every aspect needs constant monitoring and investment in the right direction,” Doughty stressed.
According to him, focussing on planning and process has a vital role to play in the growth story of a business. “Plan and audit your marketing activities in a methodical way. Your marketing operations need to evolve to fully take advantage of your data and tech stack.”
Talking of platforms he said, “You need to classify your marketing tool stages from planning audit, defining and visualising your stack framework, mapping your data process flows, selecting vendors to maintain and developing your martech stack.”For more updates, be socially connected with us on
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