Marketers are frustrated and I do not blame them.
The process of purchasing new technologies to track change and make improvements becomes more and more difficult. This is particularly true for companies based in the EU or with a large European customer base, where GDPR has had a considerable impact on the ability of marketing teams to make efficient purchases.
Marketers are constantly being asked to do more with less, but internal policies and processes, resulting from new legislation, have created significant hurdles to overcome.
The processing of ANY personal or end – user data has added months and months to purchase cycles for a large number of businesses, especially larger companies where the business is more expensive. risk elimination and brand protection are of paramount importance.
This change in policy (and mentality!) Is also a problem for suppliers as well.
Fortunately, at Return Path, we have always invested heavily in following best practices in data and making critical contributions to associations such as M3AAWG and ANA. Our thought leadership around the GDPR has also been a source of constant value for our clients.
However, even if you have a multitude of policies, procedures and legal documents available to your sales team, the effects of GDPR can not be underestimated.
The increase in the number of InfoSec documentation review requests and Data Processing Agreements (DPAs), as well as standard contractual elements, has significantly slowed down the overall process of # 39; purchase (and in our case sales) technology.
Therefore, for marketers considering new technologies, you must now take into account some additional elements!
To this end, here are three pieces of advice I would like to give you based on my experience of the past 12 months:
Getting budget approval is only the first step. Even after fully understanding the solution, taking into account the return on investment, establishing an internal business case and getting budget approval, you have (unfortunately) just started. Legal and InfoSec revisions take a lot, a lot more time, so you need to plan three, six or even twelve months in advance, depending on the solution. Be energetic with your sales representatives throughout the sales process, asking them to be as transparent and accurate as possible within the implementation timeframe, which is another key element to take into account. Will it be four weeks, three months or six months or more until you are fully operational with their product? It can take up to 12 months for the solutions you buy now to have value. Make sure you plan well and if you have easy winnings to win, take them! Another crucial element is to ensure that your legal / InfoSec / privacy teams are fully informed of what data your new provider will have access to and where it will be stored before you begin to review any document. The miscommunication of 'who's what' is probably the most important factor that slows down the buying process, so get everyone on the same page before you start!
It is very important to have several investments in advance in case one of the two fails. Due to the additional data and security measures in place, it is quite possible that a purchase will come crashing down at the last hurdle because of these new policies or because a supplier can not not or does not want to invest in the time and resources needed to do it. happen. There may also be other problems, so if you want to be agile, you must have options. That's not to say that you should talk to all Tom, Dick and Harry, just have two or three suppliers on your radar that you can run quickly if necessary.
Contrary to popular belief, many salespeople simply want to help you and your business to make things better, regardless of these "things". Competent salespeople can help you avoid serious mistakes, learn about blind spots or areas to develop, and are generally a good tool for networking and updating in the field of your choice. Take advantage of their expertise, be transparent and you can even build lasting relationships with a few of them!