Beginning last year, MarTech launched the fist of its annual Stackies Award, encouraging companies to submit one slide showing the various technologies used to market their wares. Otherwise know as “Marketing Tech Stacks”, the award is based on the following criteria…
- Alignment — how well-aligned is your stack with your business
- Concept — how effective is the conceptual organization of your stack
- Clarity — how easy is it for a reader to understand your stack
- Design — the aesthetics of your slide and its visual appea
- Detail — more detail is generally better, within reason for a single slide
Tech Stacks are meant to provide the capabilities to support today’s various digital marketing techniques on numerous online channels as well as offline.
The techniques are numerous as are the channels, adding complexity and uncertainty within an organization as to what capabilities to enable, on what channels and what technologies.
Consider the following sample of digital marketing techniques to include email campaigns, customer journeys, search and display ads, CRM, online and offline channels,multi-channel, omni-channel, data management platforms, analytics, insights, channel attribution, marketing operations, agile marketing and the list can go on and on. Technology, integration and data are significant challenges to enabling these techniques. No one vendor offers a platform to address all the major techniques needed. As a result, its no wonder why the Stackies is so popular among marketing and technology communities. As an example, an organization using Sitecore as its web content management system and Oracles Eloqua as it’s campaign management solution for search, display and email campaigns will want to integrate both solutions to ensure they have a complete view of each users interactions across campaigns and channels. This is important to understand where each user is in the customer journey and to react appropriately.
Enabling digital marketing tactics requires much more than licensing and integrating technology. Marketing teams must plan and prepare to act on the enormous amount of data generated, deriving actionable insights. Insights must be acted upon quickly in order to reap the benefit from the investments in these marketing tactics.
Over the course of upcoming articles covering both technology and operations, I expect to cover specific tactics in order to identify best-practices and success stories for enabling digital marketing within pharmaceutical and biotech organizations. These industries offer specific challenges as marketing tactics are often directed at individuals who do not purchase the product directly. For example, doctors and other Healthcare Providers (HCPs) prescribe drug products based on formularies created and maintained by insurance companies and other healthcare organizations. However, HCPs prescribe based on the specifics of each individual case and therefore, marketing and education are a significant factor. In addition, consumer health products that do not require a prescription are also influenced by HCPs. Consumers of over the counter (OTC) products are influenced by HCPs as well as direct to consumer marketing.