Back in 1988 Howard Haas joined the University of Chicago’s Booth School of Business as an adjunct professor. He struggled in his new role to find a curriculum that supported what he learned and experienced during his tenure as CEO at Sealy. Shortly after joining the university he developed a new curriculum that essentially changed leadership courses at Booth School of Business as well as impacting university curriculum around the country.
Haas’s revolution began when he introduced a new leadership course in 1989. The course shifted students training and understanding regarding leadership from theory to practice. The course was aptly named “Leadership in Practice” filled a big gap know known as the “Knowing to Doing Gap.”
Similar to what Howard Haas did for MBA Leadership courses during the early 90s, Scott Brinker is striving to take hype and theory out of Marketing Technology. Scott leads ION Interactive, MarTech Events and a think tank that looks at the MarTech sector. His book “Hacking Marketing”, MarTech seminars and events are designed to help you and I grasp the importance of martech. His straightforward practical approach looks past the hype and theory to uncover the most effective use of technology offerings in our industry, organizations, and systems.
At this year’s MarketingTech Smart Conference, Scott presented on “Hacking Marketing: The Amazing Convergence of Marketing & Software.” During Scott’s presentation, he challenged us to look at our martech stack of tools and platforms. We were asked to consider what’s in and how we use our martech stack. Then, he shared some astounding statistics that indicate that we are not leveraging our martech stacks effectively and in most cases improperly. A few reasons range from rapid change with a focus on “the latest and greatest” to being overwhelmed and slow to change. Whatever the reason, we need to rethink how to leverage technology for marketing our businesses more effectively.
Scott recommended that we rework our marketing strategy. He challenged us to consider a new way of designing our strategy. Large enterprise IT organizations have found that bimodal strategies are more conducive to the management of technology. Gartner Explains Bimodal
Scott also shared that our current strategies are likely responsive, agile and tactical so we can fail fast, learn quickly and course correct. On the other hand, our strategy can be focused on scalability, standardization, and fail-not approach to marketing. Either way, money is left on the table. Marketing costs are high and companies lose out on opportunities and revenue.
Pivot Point #1 – Bimodal Marketing Strategy
Scott recommends that we restructure our marketing strategies into a bimodal fashion.
Fail-Fast: 30 % of our efforts, budgets and plan should be structured on experimental and up and coming marketing opportunities and technologies.
Fail-Not: 70 % of our efforts, budgets and plan should be focused on areas where we can optimize, standardize and automate to reduce costs and errors while increasing effectiveness and scalability.
Scott emphasized that software magnifies marketing effectiveness but only if talent adopts the martech stack and leverages it to seize the opportunity for the company. Scott recommends that marketers (like you and I) learn about the pace-layered approach to cataloging, selecting and leveraging technology within an organization.
Pivot Point #2 – Incorporate Pace-Layered Approach
Scott recommends that we incorporate pace-layered approach to managing our MarTech stack.
By incorporating a pace-layered approach into our marketing strategies, we can increase adoption of our martech stack. Increased adoption will essentially decrease our costs and increase our marketing effectiveness.
As a result of attending the MarketingTech Smart 2016 event, I learned from Scott, that for in order to succeed in future marketing efforts, I need to take a page out of IT’s playbook regarding my implementation of marketing technology. This is exactly why Scott Brinker wrote “Hacking Marketing” and hosts events like MarTech 2017 to prepare marketers. This also why he feels AMA events like MarketingTech Smart 2016 and MarTech 2017 are important to marketers. Scott Brinker said,
“It is important for marketers to come together and learn from each other on how technology is impacting their world.”
Can you imagine how effective tools like automation, digital wallets, and user behavior mapping can increase customer satisfaction, organizational goals, and ultimately your career? At events like MarketingTech Smart 2016 and MarTech 2017, the convergence of knowledge, best practices, experience and strategy prepares marketers to do just that; happier customers and healthier ROIs naturally push your career in an upward trajectory.
About the Author: Nick Rich is an Enterprise Architect and Thought Leader on web, social, and mobile based technologies. Nick currently consults and advises clients on content, collaboration, communication technology, and how to foster corporate adoption.