MARCH 30, 2020
Prepare to Pitch an SVP
When you walk into my office to pitch an investment in technology for your marketing channel, you should have thought through the following. I’ll prod on each of the five, to make sure you’ve done your homework. And, knowing you did your homework is more important than the recommendation you make: it means you can make good decisions moving forward. 5 Things your head of marketing wants you to think about before you pitch her an idea:
Does this align with the organizational objectives?
What is your objective? What is the problem that you are trying to solve with this software? Who will the users of this software be on a daily basis? Who will benefit from the company purchasing this software (not direct users)? How many people in our organization will need a “seat” from this vendor? Who else do we need to involve in the evaluation and integration?
Does this align with our Marketing KPIs?
What is the cost of acquiring a customer?
Have you done a thorough evaluation of the market and the product?
What are the features/functionality that are most important to you? What is the one thing that you need this software/platform to “do/answer” for you?
Vendor history and fit: how long have they been around, what types of customers do they have (SMB, mid-market, enterprise)
What are the other options?
Pros and cons of their competitor?
Pros and cons of managing this in house?
Free trial: what were you measuring? How often did you “use” the trial? What hiccups did you experience? Did they address how those would be solved if we purchased the software?
What internal resources do you need?
Technical integration: how will the solution fit with our current stack? Are the CMS, CRM and automation platform compatible with this new vendor?
Level of support: from sale to onboarding what can we expect in terms of timing of the integration, necessary internal resources, training available to the team
Reputation/analysts opinions: what do Gartner, Forrester and others have to say about the technology vendor you’ve selected?
Customer references: who do you speak with at current customers, how enthustiastic are they about this vendor? What were the weak points? How do they feel about the day-to-day support they receive? When is their renewal, what contratual points are they considering to negotiate upon renewal? How long is their term?
Risk: What risks do we need to consider?
What’s the business case?
How will you measure the success of this software? How do I think about the return of this investment outweighing the cost?