8October 2018THE STATE OF MARKETING TECHNOLOGY SOLUTIONSBy Clay Stobaugh, EVP & CMO, John Wiley & SonsTransformation in the IT Operating ModelJust five years ago, there were few marketing technology tools from which to choose and many of them were very light relative to their need. At Wiley, we realized that the tools were necessary but they were being were deployed uniquely by varied business units. At that time, we had not yet developed a consistent marketing technology strategy. Since then, the marketing technology industry has exploded with offerings and matured as witnessed by the ongoing mergers and acquisitions within this space. The needs of our organization also matured. As a result, we initiated a global center of excellence with a dedicated Marketing Technology team that resides within Marketing and works in partnership with our IT team. Meanwhile, the marketing share of the IT budget continued to increase as we deployed new toolsets to support our modern marketing approach. To support this growth and the organization's needs, we expanded the scope of our IT and Marketing Technology teams so they could help lead our selection process, support our businesses, and work in partnership, to facilitate our joint roadmap so that we can anticipate, prepare and deploy on time, on budget, and with minimum surprises!Hidden ComplexitiesThe cost and complexity of marketing technology tools continues to increase. It is no longer possible to justify their ownership based on "good to have." These tools often require specialized skills training, new hires, complex roadmaps, and significant time investments; what I like to call the "hidden costs" of a new solution. Consequently, and justifiably, there is growing importance on proving an ROI on any marketing technology investment. Importantly, the ROI analysis must cover the total cost of ownership and not just the acquisition cost. This higher level of accountability requires our teams to agree on how and where the savings and the increased revenues are generated. This commitment then creates a level of accountability for how the technologists deliver against the plan. Accountability is clear and present in delivering an agreed ROI.Clay StobaughIN MY OPINION
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