Just over 2 years ago, most CMOs relied on two technologies to build their marketing campaigns: a customer relationship management system coupled with a marketing automation pl
atform. As of Q1 2015, there are 1876 different marketing technologies available to marketers.
Typically these technologies promise to increase efficiency, expedite workflow, and increase the value of data. However, in most cases they fail to integrate with previous tech
nologies, require substantial onboarding time, and often produce mass amounts of data that overwhelm marketers.
Marketing technology also tends to be exceedingly expensive, and can require large portion of your marketing budget. We reviewed 7 of the most popular technologies and estimate
d how much it would cost you to invest in all of them.
What is it? Predictive lead scoring helps sales reps prioritize prospective buyers so they can focus exclusively on the leads likely to purchase their products.
How much would it cost me? A typical lead scoring platform would run you around $4,000 a month.
Marketing Operations Services
What is it? Marketing Ops helps organizations manage their data to fuel marketing campaigns and advance the growth of their sales pipeline.
How much would it cost me? 75 cents per contact. Typically you can plan on pulling data for around 100 to 500 contacts per month.
What is it? Software that uses big data and predictive analytics to gather information about prospects while they’re still anonymous (they haven’t yet been added to your CRM).
How much would it cost me? You can expect to spend around $2,000 a month.
What is it? Predictive Analytics encompasses a variety of statistical techniques such as machine learning and data mining to analyze historical facts to make predictions about the future.
How much would it cost me? Expect to spend $1,500 per user every month.
Customer Data Platforms
What is it? David Raab defines CDP’s as:”A marketer-controlled system that supports external marketing execution based on persistent, cross-channel customer data. Many CDPs provide predictive modeling or best-treatment recommendations that go well beyond the storage functions of a basic data warehouse.”
How much would it cost me? You can expect to spend around $8,000 a month.
What is it? Customer Success platforms help support teams proactively manage customers through early warning signs.
How much would it cost me? A standard customer success platform would cost you somewhere around $4,000 a month.
What is it? SI helps salespeople keep up to date with clients, prospect data, and drive business.
How much would it cost me? Expect to spend roughly $200 a month per account.
According to our estimates, it would cost you $20,075 per month to invest in every single one of the following platforms. That’s $240,900 a year exclusively on technology.
Rather than investing in a set of disparate solutions that only improve one specific marketing function, marketers must wait for an end-to-end solution that encompasses all 7 a
ttributes. We call this solution Marketing Intelligence.
Marketing Intelligence is a technology layer that encompasses all seven of the above functions and integrates seamlessly into your existing technology stack. It reduces the tim
e spent on researching new technologies and takes only a fraction of your marketing budget.
Will 2015 be the year companies build one?
About Neha Jewalikar and Radius
Neha is a Content Marketing Specialist and Social Media Manager at Radius. She specializes in building engaged online communities and sparking conversations about business-to-business marketing trends. To learn more about how Radius is changing the way B2B marketers understand, target, and acquire customers, visit www.radius.com.