Marketing teams are knee deep in marketing tech. Rob Howard, founder of DailyStory, thinks it’s time for a new perspective. Barb Mosher Zinck explores how marketing tech can get closer to the business, and how DailyStory thinks they can make a difference.
I’m like every other marketer in the world; I love marketing technology. Anything that makes my job easier is a good purchase. And vendors do a great job marketing and selling their products to people like me – they know how to frame the story to show how a solution like theirs will make my life so much easier. So I buy. Then I implement the technology, and yes, I think it’s working. But how can I tell for sure? How do I know this investment is bringing me the returns I should expect?
Companies look for marketing technology to help them do something – build brand awareness, fill the lead generation queue, reach more qualified prospects, whatever. And the technology, implemented and used right does work. But most marketers still struggle with understanding how that investment is working for them. Is it improving lead quality? Is it driving a bigger sales pipeline?
Here’s a stat that may not surprise you. In a recent study, 38% of marketing teams use between 6 and ten marketing technologies. Twenty-four percent use between 10 and 20. How many do you think can concisely tell you how those investments are performing individually and as a whole?
A couple of weeks ago, I saw a post from Rob Howard about a new company and technology he was working on. I know Howard from years ago when he founded Telligent, a community software platform built on the Microsoft stack.
Howard’s new company, DailyStory, is not social software. It’s account-based marketing software. But this isn’t about DailyStory as an ABM solution, it’s about DailyStory as a way to help marketers go back to approaching marketing from a business perspective first and a technology perspective second.
It’s about getting a grasp on what you are doing, why you are doing it and how you will measure it, with the end goal of ensuring that technology spend (and other marketing spend) is effective.
Howard understands this challenge well. For the last five years, he ran Telligent (which was acquired by Verint). He found he was spending an exorbitant amount of money on marketing, but he was frustrated that he had little visibility into that investment. He knew he wasn’t alone.
He asked himself what if he looked at marketing as an investment? What if you could apply technology to the business side and improve your spend? He said, marketers are already spending the money, they just need to understand how to spend it more effectively.
All this led Howard to leave the company he created twenty years ago to start something new. His focus switched to digital marketing and account-based marketing as a way to help other marketers focus their attention on the business need and how technology helps.