Recently I had a chance to attend a local Boston event with about 50 Marketing Technology professionals. I had the pleasure of facilitating a table discussion on “How to Gain Organizational Buy-In for MarTech Investments.” That is: how to get funding, resources and organizational support for your strategic plans. I created a discussion aid (download below) using the theme “Hot” or “Not.” I used this theme to recognize that different strategies and tactics would work for different individuals, organizations and cultures — and because I thought it was a funny, lighthearted way to present the material.
Through two sets of table discussions, several take-aways emerged:
- The ideas we discussed were both strategic and tactical. Marketing Technology professionals will likely find some combination of the attached useful, depending on your situation.
- While it’s important to satisfy the “mind” of executives, you’ll likely need to also convince their “heart.” Decisions are often not made solely based on facts. You’ll want to gain passionate support for your plans.
- The mix of strategies and tactics that will work for you will likely depend on your companies risk tolerance. How likely is the company to try something new and innovative? Our discussions confirmed that how established a company is influences its tolerance for risk. Startups are eager to distinguish themselves as a new entrant leader whereas established companies are likely to be more concerned about protecting existing revenue streams.
- On a related note, some organizational cultures react well to a strategic vision that demonstrates innovation. In these situations positive themes of advancement and market leadership are likely to win out. Other organizations have a more defensive than visionary orientation. In such cases MarTech leaders may need to focus on competitive pressures. Competitive case studies showing how others in your industry are excelling using similar technologies may be the best strategy. #FOMO
You can download the Hot or Not guide to “How to Gain Organizational Buy-In for MarTech Investments” by clicking on the image below.