Pro Tip: It’s time to evaluate your martech budget
During the coronavirus crisis, it's important to make the hard decisions about what tools are essential and what are not.
With the introduction of state-mandated quarantines and non-essential business shutdowns, technology for marketing and communication are more important than ever.
As businesses begin revisiting their budget and reassessing the ROI of SaaS technology, it’s important to keep productivity as a top priority.
Start by assessing what tools are essential to your team, which ones are “luxuries,” and ultimately, which platforms are expendable.
Examples of essential tech:
- Platforms that house historical metrics
- Tools your team uses every day
- Communication tools such as instant messengers and video conferencing
- Organizational tools
Examples of non-essential tech:
- Premium tools (consider reverting subscriptions back to basic enrollment)
- Tools with a low ROI
- Platforms utilized by only a few team members
For companies that are new to a remote setup, employees will be relying on familiarity to continue production, meaning it’s crucial that you remain subscribed to the tools that are seen as essential for your team’s day-to-day tasks.
On the bright side, this may be a great opportunity to reconnect with your team and decide which platforms aren’t meeting your expectations. Perhaps these cuts will act as a way to simplify your processes.
Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here.