{"id":1246,"date":"2021-02-12T17:52:37","date_gmt":"2021-02-12T17:52:37","guid":{"rendered":"https:\/\/saasboomi.codecrane.com\/?p=1246"},"modified":"2024-05-16T12:26:16","modified_gmt":"2024-05-16T12:26:16","slug":"how-to-build-your-marketing-stack","status":"publish","type":"post","link":"https:\/\/dev.matsio.com\/matsio\/saasboomi\/saas\/marketing\/how-to-build-your-marketing-stack-a-primer-from-saasboomi-growth\/","title":{"rendered":"How to Build Your Marketing Stack \u2014 A Primer from #SaaSBOOMi Growth"},"content":{"rendered":"
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This highly interactive session was conducted virtually at\u00a0<\/em>SaaSBoomi Growth<\/em><\/a>\u00a0and covered all the concern areas about how to build a Marketing Stack. I am a volunteer, and I have tried to capture the leading thoughts.<\/em><\/p>\n

In the year 2011, there were 150 Marketing tools available from which a user could buy. Cut to 2019 and we had 7040 \u2014 almost a 47X growth in numbers. Spoilt for choices as we are in every aspect of life today but this kind of an expanse can also be bewildering. Questions such as, \u201cWhich CRM tool should I buy\u201d can have multiple responses and leave one even more perplexed than when they started. To cut through this haze, we had\u00a0Aniruddh Jain<\/em><\/strong><\/a>,<\/em><\/strong>\u00a0a Growth Marketing Consultant to do a session on<\/em>\u00a0What it takes to set up a Marketing Stack.\u00a0<\/em><\/strong>He looked at companies in the range of 500K dollars which are on a path to reach 2\u20135 million.<\/p>\n

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At the very outset, he was emphatic about choosing the right tools because not doing so can lead to disastrous consequences. Far too often, we have seen companies being saddled with expensive tools that are not put to use adequately or have poor ROI. \u201cYou don\u2019t want to get into this situation,\u201d said Aniruddh rather gravely. That is why generic queries such as the one mentioned above don\u2019t get you the desired results. To make things clearer, he took us through the First Principles<\/em>\u00a0to derive the answer.<\/p>\n

A virtual survey revealed that on average, the participants used less than 10 marketing tools which was pretty much on cue. It has been observed that growth-stage companies used between 10\u201320 (such) tools and the more mature companies can go even 3\u20134 times higher.<\/p>\n

Aniruddh gave the example of a car. What is its basic function? It takes an individual from Point A to Point B. But it shouldn\u2019t be that you sell your house to buy a Ferrari when your needs could have been met by a Honda City. Your marketing technology spend\u00a0has<\/em>\u00a0to be aligned with your goal and budget. The keyword here is\u00a0optimization.<\/em>\u00a0He jokingly said, \u201cKiller apps can kill you, just ask around.\u201d One can also do a Google search \u2014 \u201cBest cheap top CRM tool for hyper-fast growth\u201d, he added on a lighter vein.<\/p>\n

What are the factors that need to be considered while building a Marketing Stack?<\/p>\n

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  • Company budget, primary.<\/li>\n
  • Company goals now and in the next 3 years.<\/li>\n
  • Business model, you are in<\/li>\n
  • Socio-political environment, an area that has increasingly become influential in decision-making.<\/li>\n<\/ul>\n

    There\u2019s a whole list of company goals to choose from: Creating brand awareness, increasing qualified leads, improving conversion ratio, increasing retention, bringing down the cost per lead, hiring better marketeers, making marketing more efficient, operationally, etc. While these are some prescient examples a company needs to be clear \u2014 now and 3 years down the line, what the goals will be.<\/p>\n

    Goals give rise to jobs.\u00a0<\/em>Building a Marketing Stack is a lot like building a product. You start by researching the required features, map your resources accordingly, and build the MVP (Minimum Viable Product) to test the hypothesis. And, iterate, to get the best fit. Similarly, in building a Marketing Stack, one buys tools off the shelf from vendors and the approach remains similar.<\/p>\n

    A good Marketing Stack\u00a0should have these functionalities:<\/h3>\n
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    • Scalability \u2014 both upscaling & downscaling, if required. If we want to replace one tool, we should be able to do so without disrupting the entire stack.<\/li>\n
    • Interoperability \u2014 there will be diverse tools and they should be able to work in unison.<\/li>\n
    • Advanced Reporting through data-driven marketing campaigns.<\/li>\n
    • Data security & transparency, and as Anirudh says, \u201cYou don\u2019t want to be sued into bankruptcy.<\/li>\n
    • Advanced Reporting through data-driven marketing campaigns.<\/li>\n<\/ul>\n

      In the next stage, AI and personalization tools will have a major influence on decision-making.<\/p>\n

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