We Need a Martech Reference Model — Here are the Reasons
Forrester clients often ask me if I have a martech reference structure that I can use for my martech stack. Marketers should consider an interoperable ecosystem of marketing technology (martech), and not platforms or stacks. A detailed martech reference architecture is also necessary because no two marketing agencies are the same.
Don’t be discouraged! Forrester offers a number of excellent tools that will help you create your own martech reference architecture. The reference framework has been developed by our enterprise architecture (EA). It contains the concepts of a martech-reference model (common taxonomy), an architecture (logical configuration) and a pattern (physical implementation).
To apply Forrester’s reference framework for martech investments, I worked with Gordon Barnett. The Model For Modern Marketing was developed by Shar VanBoskirk. This model allowed us to define our customer and business context. It was based on three fundamental marketing principles: customer understanding and brand strategy.
Using this guideline, we developed the technology context. The resulting martech reference model can be used in both an EA and marketer form. Why are there two versions? The underlying taxonomy remains the same. However, both reports highlight the importance of collaboration between technology and marketers.
The martech model is a taxonomy that is based on common understandings of customer-centric business requirements, requisite capabilities, as well as the recommended technology components.
We have also published How to Make Sense of Martech Mayhem. This includes descriptions for almost 100 martech categories (and related), as well as cross-references with 74 Forrester Wave(tm), and New Wave(tm), evaluations.
We went one step further for banking organizations. Jost Hoppermann, our financial services team, helped me align our martech model with our digital bank platform architecture. Although the result is not an entirely complete reference architecture, it can be used to help you understand How to Build a Martech Reference Architecture for Banking.
Our martech reference materials are available to everyone, regardless of whether you are a marketer or an enterprise architect pro. They will be extremely useful in helping you to create your unique martech reference architecture. They will allow you to cut through the over 8,000 martech vendors trying to grab your attention.
Join our APAC Financial Services Series 2021 if you’re in Asia Pacific. On July 29, I will be giving a session titled “Define your Martech Reference Architecture to Enable Personalized Customer Experiences.”