The right sales and marketing tech stack to a great extent is the key to your business’s success, while the wrong choice may be a reason for failure.
When considering purchasing applications that make up this ideal tech stack, the purchase team should try to zero in on the most common driver amongst all departments this stack touches. Why are you considering this purchase and most importantly, how will this purchase impact your current and future business outcome?
Recently, I attended the Sirius Decisions Technology Exchange as both an attendee and as a sponsor.
Putting on my attendee hat, I learned that the most common types of tech purchases are:
- Forced purchases which are pressure driven
- Transformational purchases which will add new capabilities
- Incremental purchases for improved capabilities
- Rationalization purchases for cost savings and stack management
In addition to understanding these purchase types, I learned you must also know how your purchase will affect your business.
Next, you must determine the internal justification that is needed to gain consensus for this purchase. Why this solution? Why now? Is it worth it? Will this be too disruptive? What will we save? Building this process will assure the success of your investment.
Now, let’s change hats. As a sponsor, you must ask but also answer most of these same questions. The same concepts apply and are just as important to understand when talking to buyers. Why does a business need my solution? Why now? What is the long term saving? How can I make the transaction seamless? And so forth…
When talking to prospects as this TechX, it was of most importance to establish credibility right out of the gate. Why should an attendee at this conference take time out of their content-crazed day to spend 3 minutes of their time learning about RO Innovation?
Here was my pitch…..RO Innovation is the common thread for aligning your customer engagement tools to drive trust and revenue. You have all of these applications – CRM, customer success, marketing automation and product management platforms but how are these working together efficiently to drive customer advocacy? Just as important, RO Innovation offers value add integrations with your current software applications, it’s not just an AP call.
Using the right technology to improve processes will help you achieve your productivity and financial goals.
As Gil Canare, Sr Research Director of Sirius Decisions says, “Consider customers first then add your technology investments.”
To learn more about the framework for Creating the Business Justification for Technology visit siriusdecisions.com.