The truth is, the moment you purchase technology for your business, it begins a slow descent into obsolescence.
We purchase technology — a new app, system or software suite — for a specific need. We buy to solve the problems encapsulated in a moment of time. Markets shift, business adapts, and your needs will change. That once-perfect solution becomes an issue you need to overcome.
This is obsolescence.
Is Obsolescence Hurting Your Business?
Obsolescence is an insidious problem. It’s an issue that is magnified when you consider the effects on the different channels inside your business.
A piece of sales software may work great for the sales team, but the marketing team doesn’t use it. As obsolescence sets in, sales will use workarounds to maintain usability. Each workaround becomes a barrier between sales and marketing. The data that marketing needs is trapped in the obsolete sales software. Sales is so focused on their needs they haven’t incorporated marketing into their processes.
Obsolete and disconnected technology is an impediment for your team growing. It creates silos, walled gardens within the business. Without alignment between sales, operations and marketing, you are drastically reducing overall business efficiency.
What is MarTech and How Does Business Use It?
MarTech, or marketing technology, is the combination of marketing and technology. It means leveraging technology to empower marketing initiatives and deliver on business goals.
In the past, MarTech was primarily point solutions — Apps or technology focused on delivering a solution for a single business need. An email app is an example of a point solution. Google Analytics is another point solution, focused on tracking conversions and web traffic.
Today, more and more companies are looking at marketing technology as not just a tool for marketing, but as an enterprise system. It should not only solve a problem for marketing but also help align the company around shared business goals.
The Maturation of MarTech in Business
In the past, businesses would purchase individual point solutions to create a MarTech stack, the total technology solution for the business. The problem for many companies is this reliance on point solutions creates deep divisions in the business.
Marketing would have their MarTech suite, and sales would have their own technology. Operations would use another batch of apps, like an ERP (Enterprise Resource Planning) or financial software. With little connection between the apps, the business would suddenly find themselves burdened with silos. Sales couldn’t coordinate with marketing. Marketing would see their efforts ignored by sales, and operations would chug along completely isolated from either sales or marketing.
As obsolescence set in, and the business was reluctant to replace what was working, the divisions would grow. Problems and inefficiencies would slowly creep into business processes.
Aligning Sales, Marketing and Operations Using MarTech
Today, smart business leaders recognize the danger of individual point solutions and an out-of-control MarTech stack for company productivity. Integration and accessibility are just as important as functionality when selecting new technology. New technology can either push departments apart, creating specialization and business silos, or it can support collaboration and enhance business alignment.
It can provide a solution for a department, or it can be a business solution.
The MarTech Solution for Business
As business leaders are reassessing technology and how it operates at the enterprise and business level, more and more companies are implementing marketing platforms rather than point solutions.
Platforms typically provide interconnected apps supported in a single digital ecosystem. While the individual apps provide point solution-like efficiency, the overall platform provides a shared space for information for the different business elements to operate.
The HubSpot Marketing Platform for Business
In this way, MarTech and the marketing platform enhance business alignment, rather than creating silos and divisions. This is how platforms like HubSpot have been designed.
The HubSpot platform is designed around the buyer’s journey, providing support for every phase of the prospect and customer journey. Even though parts of the platform could operate as an individual point solution, the power of the platform is unlocked when it operates together.
Let’s look at a few of the ways HubSpot works to eliminate silos and business inefficiency for GO2 Partners and many of the companies we work with.
Sales and the HubSpot Platform
HubSpot is designed around a CRM (Customer Relationship Management). The CRM works like a storehouse of information for customers and prospects. Sales can use it to track, plan and coordinate the prospect experience. With everyone working from the same system, you can better coordinate work across the company.
With everyone in the company using the HubSpot CRM, you can better manage sales and marketing activity. Rather than just tracking the customer relationship, you can grow the relationship. It is better for the business, and better for the customer. The CRM helps the business work faster with fewer errors, providing the customer and prospect a better experience.
Marketing and the HubSpot Platform
Marketing thrives on data. Too often, content and marketing campaigns operate in a vacuum. Content is produced, but marketing never sees the results. Prospect and customer feedback could provide guidance for future content and campaigns, but it never reaches marketing leaders.
With the connection to sales apps and the CRM, HubSpot provides marketing the data and information the team needs. Data is collected on dashboards and reports from multiple sources and channels, and is then aligned around the prospects and customers in the CRM. With this information, the platform empowers marketing. For example, with data from sales the company can design and create personalized customer experiences.
It also aligns sales and marketing efforts. Sales has easy access to marketing content and tools to nurture a prospect and close business, while marketing can see any gaps or issues and provide solutions more quickly. The system tracks prospects through the sales process, with everyone in the business working together to deliver on business goals.
Operations and the HubSpot Platform
Growing the relationship between your business and your customers is a critical part of the HubSpot platform. In the past, when a sale was made and the team passed off a new customer to customer service, the sales team quickly moved on to a new prospect, forgetting the past interaction. This meant additional sales and revenue were lost. It was difficult to coordinate new sales with an existing customer.
With HubSpot, the transition as a prospect becomes a customer is seamless because everyone in the company is working from the same database of information. Operations can see a more complete picture of how the relationship with the customer developed, ensuring a better customer experience. New information, including service tickets and customer service interactions, can be tracked in the system. This way, marketing and sales can identify additional opportunities.
Operations can also access the same content and data that sales and marketing are using, ensuring more complete coverage for the business. This can drastically reduce response time for customer questions and support a better customer experience.
Empower Your Business with MarTech
Many businesses are reluctant to make changes to their tech stack. To many business leaders, if something is working there is no reason to change, even if it is working poorly. This leads to increasing obsolescence, increasing inefficiency, and internal business divisions.
The right MarTech solution can bring the business together, reducing the division and providing technology so your team can work smarter rather than harder. With a marketing platform like HubSpot, you are solving for business efficiency, rather than the individual problems that are the focus of point solutions.
If you want to learn more about MarTech and marketing platforms for your business, then contact GO2 Partners today. As a HubSpot partner, we help businesses leverage technology to increase efficiency and meet their business goals.
We’re ready to help.