Why should a business invest more in Marketing Technology?

Unlike any business process, marketing is evolving faster than any other process for any organization. Companies are seen investing more than ever on their marketing. This is purely possible because of the tools that have come to their aid. Yes, we are talking about the digital or technological aid which keeps feeding the organization with information that is really crucial for the business decision making process. Digital has truly taken over as far as the Marketing is concerned.
The top brass of any organization always wants to have a tight control over time and cost allocation, which eventually has an impact on the turn around time for any project. This is extremely important for any business as it affects the cash flow and eventually the bottom line too. Senior leadership of any organization always tries to get a competitive advantage and for that they keenly analyze business metrics to gain insights that’ll provide a competitive advantage.
Artificial intelligence is thus becoming the backbone for data for any marketing campaign. What that is also allowing the organizations is making smart choices. Many organizations have started using competent consultants in the place of full time employees- eventually saving huge costs and getting better quality work done with the information that their marketing technology tools are feeding them with.
New client acquisition too has become far more information driven. The sales and marketing team already have a very good amount of information before they actually end up on the discussion grounds. This is also helping them have an upper hand in terms of negotiations resulting into far more closures than they ever had.
What Marketing technology also does is help organizations plan better in terms of their offerings and how they want to present themselves and their audience. Technology help businesses to automate key business processes by feeding in real-time insights into metrics for close to optimum decision-making.
The best thing about an automated system is the fact that the entire organization – everyone within the organization who needs to know – can be fed with different sets of critical information by being aligned to same set of objectives set and the same set of data used as an input, thereby ensuring close knot of all the reports. The best thing is that technology allows to keep everyone connected on the same platform while not compromising on any piece of critical information and its security.
Here are five major advantages for any organizations when they invest in Marketing Technology-
• Improved Quality: When you have thoroughly analyzed data, the chances of making mistakes drastically comes down. With abundance of critical information, the organization usually gets a head start which they are seeking, thereby reducing risks of failure and eventually end up getting improved quality of results.
• Reduced TAT: A lot of things depends on the turn around time and most often, it’s the TAT which helps you win or lose a deal. With the TAT going substantially down, the business is only going to win you deals 9 out of 10 times.
• Reduced Cost: Gone are the days where a lot of marketing campaigns used to be trial and error based. With quality data fed at the initial stages, the chances of occurrence of errors is minimized to a great extent, thereby saving huge costs to the organizations.
• Improved Efficiency: With reduced costs and improved quality, efficiency automatically goes several notches higher.
• Profitability: With high levels of efficiency, reduced costs, and with quality results, one thing becomes a certainty and that is high levels of profitability.

IMAGE SOURCE: annuitas.com

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