Tech Innovation Leads to Shorter Time to Value
When we think about innovation, technological advances usually come to mind first, how we make our marketing tech smarter, more accurate, and scalable.
But part of product innovation is also being more profitable. What good would any of the marketing tech be if it didn’t help you grow as a business?
The recently released report The Forrester WaveTM: Cross-Channel Campaign Management (Independent Platforms), Q4 2019 shows, in our opinion, that Emarsys continuously improves our tech to put our clients in the best position for growth, and a huge part of that is making short time to value a tangible, strategic advantage throughout the Emarsys Marketing Platform.
Why an Innovation Road Map Matters So Much
The Forrester WaveTM: CCCM report includes vendors that deployed campaigns across at least five channels and covered 40 criteria. While there is no specific “time to value” category, the theme of getting martech up and running as fast as possible underlies cross-channel campaign management.
One of the categories, “Innovation Road Map,” evaluates a CCCM provider’s planned technology innovations and how they are differentiated from competitive offerings. One of the most sensitive areas during tech acquisition is trying to understand the path from implementation to campaign activation and revenue growth, the sweet spot for tech with short time to value. Therefore, an effective road map is the foundation of short time to value.
Emarsys scored a 5 out of 5 here, where our road map was determined to be “differentiated by a thorough and specific plan to deliver next-generation features that address evolving CCCM requirements aligned with its business technology vision. References validated the strength of the vendor’s road map.”
We believe the road map is an important first step in keeping time to value short, but the focus on fast growth from new tech doesn’t stop there.
Time to value (TTV) is the amount of time it takes a piece of tech to deliver results. The shorter the time to value, the faster growth happens. The problem is that not everyone purchases martech with time to value in mind. Some decision makers look for particular features to solve a specific problem, usually confined to a single touchpoint. It’s a very short-run decision.
Before you look at the first piece of prospective tech, you have to decide what you want to do with it. Will it help to bring in revenue? Or do you want to use the tech to retain more customers? That determines the kind of solution you need, but from there, it doesn’t get easier.
The stakeholders in your company will debate which tech stack is best. In-house all the way? Or a hybrid of IT and third-party vendors? Or what about an external platform with as many touchpoint integrations as you need to connect with customers? Once you map this out, you have to decide how everything will be integrated.
We know how daunting evaluating new tech can be. You have thousands of options to choose from, and while the line between marketing and IT continues to blur, most marketers are creators first, technologists second.
Now add in the mounting pressure for marketing to deliver customer and revenue growth ASAP. That’s where time to value becomes the most important part of deciding what goes in your tech stack. How long will it take that new software or platform to show results?
Nowadays, you have another option: a single platform from a single vendor who then also manages all the necessary integrations. This option has the greatest time-to-value potential because once you’re out of implementation, you can activate campaigns in days, not weeks, and see impact quickly so that you can then optimize and see greater growth faster.
We can say why we think we’re good at short time to value, but only a customer who’s gone from implementation to provable revenue growth can give you the best idea about why TTV matters.
Wanting to expand their reach online, Replacements, Ltd., a U.S. retailer that specializes in china, crystal, silver, and collectibles, chose the Emarsys platform for its intuitiveness and scalability, but the time-to-value advantages were incredible.
- 100% ROI within weeks of implementation.
- $26,000 in browse abandonment revenue in the first 3 months.
- $101,000 in abandoned cart revenue in the first 4 months.
“Emarsys gave us a more systematic and efficient way to segment and send out more one-to-one messaging. It’s a fairly easy integration, and we are actually seeing how it has created a positive return on our investment in the partnership and the cost of the tools that Emarsys has provided us.” — Linh Calhoun, Chief Marketing Officer, Replacements, Ltd.
Every client at Emarsys chose use without any guarantee of a short time to value. If the TTV was long, you would expect clients to leave in flocks. But that’s not the case.
We believe Emarsys’ ranking as a leader in The Forrester WaveTM: Cross-Channel Campaign Management Report is a culmination of our efforts throughout the company to listen to our customers, to hear what they need help with, and then put all that knowledge directly into our marketing solutions.
For a long time, it was very difficult to figure out how fast a piece of technology would pay for itself and deliver ROI. However, the time to value of marketing technology is a critical area where you can beat your competitors by being faster and more accurate in bringing in ROI. If you’re interested in finding out how we can help, take a look at our demo.
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About the Author
Mark Enochs is Sr. Content Marketing Manager at Emarsys, where he specializes in content on machine learning, the Emarsys marketing platform, and digital technology subjects for end users and decision makers.
Connect with Mark: LinkedIn