The VP of marketing at a midsize digital commerce company was frustrated with the company’s in-house personalization engine. Some viewed it as valuable intellectual property, but given acute competitive pressure and looming revenue goals, the engine was too time-consuming and costly to maintain and needed to be replaced with a better external solution. The VP’s ultimate goal was to reduce costs, free internal resources and maintain a consistent customer experience.
She needed a structured way to assess the various criteria and ensure the solution met larger business needs beyond just features and functionality, due to her organization’s size and complexity. “The growing focus on technology within the marketing organization puts a premium on having a systematic process for evaluating and selecting potential vendor partners,” said Noah Elkin, Senior Director Analyst, Gartner for Marketers.
Marketing leaders are now on the front line of selecting technology providers, given their responsibilities for critical customer-facing, revenue-generating systems and applications. According to the Gartner CMO Spend Survey 2016-2017, technology consumes 27% of the marketing expense budget and plays a key role in helping marketing leaders orchestrate their increased responsibilities.