The Real Time Martech Stack
In his book, Real Time Marketing & PR (2010), David Meerman Scott suggests a possible Martech stack to use to implement real time marketing techniques. He did not call it a “stack” at the time, yet it is a prescient view of a full marketing automation system, and a partial martech stack. Let me take you through his suggestions and how they would work today. Here is the original image (with permission):
Viewed another way, this stack is pretty close to the multi-platform model that Scott Brinker discusses. My view is that while this will be a multi-platform stack, some of the proposed components can be conflated.
For databases, I would strongly urge you to have a single database for Journalists, Prospects, and Customers. This is part of one continuum and would be difficult to manage, track, and email in separate systems. In effect, this is your MAP+CRM system.
- Journalist Database – only the largest firms would have a separate database for bloggers, reporters, and industry analysts. (And many are asking for MAP access now). It is easy to segment this group out in your CRM and MAP. In fact, this is exactly what I did on my first implementation. How would I do this now?
- Merge the PR database spreadsheet with the MAP.
- Create a Press Queue in SFDC.
- Push all records that identify themselves as “Press” or “PR” types to this Queue.
- Create a Smart List and/or Static List to manage this list.
- Decide if you want to market to them separately from what they requested.
- Who will manage this list and Queue?
- In some cases, it will make sense for you to have a separate “PR” Workspace and Lead Partition for this team to ensure sensitive press and analyst contacts are not accidentally sent typical marketing emails.
- Prospect Database – some firms choose to hold back prospect records from the CRM or from Sales entirely. This is a standard practice, although I am well known for encouraging all records to be synced and managed to the CRM.
- Customer Database – what is not standard is just how to identify customers. Preferably, the Prospect and Customer Databases are completely merged in the CRM and MAP. However, identifying customers may be a bit harder depending on your setup. Your customer data may also be a part of your product platform, but that detail must be synced to the CRM to be effective in real time.
Then there are the Analytics tools.
- Social Analytics – Scott suggests that this is to monitor blogs and social media for your products, prospects, etc. What he does not include, surprisingly, is the social engagement component to that tool. The major social tools provide monitoring, engagement, and analytics together. The question is how to merge the marketing component and the sales component to create engagement. Scott discusses this extensively in Real Time Marketing & PR and Real Time Sales & Service.
- Website Analytics – just about everyone is using at least Google Analytics now, which includes Real Time tracking. The drawback is most web analytics packages cannot connect the cookie back to a name. A MAP is able to do this with separate scripting and web tracking. If you are focused on real time data and then taking fast action, you must rely on the MAP’s web behavior tracking instead. This data is picked up by the MAP to deliver to Sales…but you knew that already 😉
- Real Time Dashboards – real time data is already here, the question is more about is it organized in a report that is updated constantly with the right metrics? With Salesforce1 and SFDC Lightning, and Marketo’s CalendarHD, it is now very easy to show real time charts in a variety of mediums and across the firm. But do not start with the tool, start with the real time mindset and then decide which reports you need to build. Dashboards are going to be different depending on the team and goals. Building really great dashboards takes time and likely a business intelligence tool with a competent operator, but some of this is possible within the MAP or CRM.
- Real Time Playbooks for Sales (Proposal and CPQ Systems)
These are “configure-price-quote” or proposal generation tools, which can help sales at each stage of the opportunity with the right materials. From my experience, the use of these systems is scattered: some SMBs use them and some Enterprises use them. The question is if you want to go into Real Time Sales, how do you ensure the Playbooks, Proposals, and CPQs are able to incorporate real-time information? Who updates it and how automated is the real time database? Make sure you question the vendor in detail on bringing in real time sources to the package. Make sure you have a people process to updating these too.
- Mobile Monitoring and Real Time Sales
In 2010, Scott was concerned about real time alerts to prompt Sales into action wherever they may be. Today, the sales team is completely on smart phones and integrated with platforms like Salesforce1 and HubSpot CRM/Sidekick. In fact, marketing is also getting in on the mobile action with increasing ability to plug into the MAP from tablets and phones for certain actions.
- Data Appending and Dossier Building
This is one area not explicitly mentioned in the Scott’s original books. One of the components experiencing a surge in growth and development is the data appending system. Data services typically include a data cleaning component and a data appending component. First, the vendor will help you dedupe and clean bad data, such as merging “Coca-Cola Company” with “Coke”. Then, they will offer you form level data appending or automated backend data appending to ensure that Company, Industry, Address, and other details are filled in automatically.
This service helps improve segmentation accuracy as well as saves time in researching or requesting this detail. A dossier on the Lead or Account is effectively generated in the CRM through real-time news, instantly updated contact information, social media, and web behavior. This dossier is then available on desktop and mobile in seconds.
- Automated Record to Account Matching
Another key component, which can be part of the Data Appending Tool is to match loose names to their proper Accounts. This is the manual part of what Sales does with MQLs and it drives them nuts. Instead, automate this process with tools like LeanData to ensure that as individuals become mature, they are connected to the right Account, in the right territory, and with the right salesperson.
The Real Time Marketing Tech Stack of Today
Here is my view of the martech stack you will need to implement a real time business, or even just real-time marketing and sales.
In a constellation view, it would look a lot more like this:
It is important to understand the business workflow before choosing vendors. In the next post, I will discuss inserting real-time tools into the business workflow.
Disclosures: I received an advance copy of the New Rules of Sales & Service before it was released in 2014.
[Updated April 7, 2016 – HubSpot link fixed]