The tools consist of a suite of contract templates and critical reference documents designed to help marketers evaluate and purchase marketing technology, drive growth, and substantially reduce waste and redundancies.
“As growth in martech has advanced, so have the complexities that arise from the implementation and integration of many disparate solutions,” said ANA CEO Bob Liodice. “A sizeable portion of poor outcomes are related to flawed procurement decision-making and an incomplete martech procurement approach. Our strategic framework will address critical issues to resolve these problems.”
Liodice said the ANA’s goal is to help marketers “master their tech stack.” He added that such action is needed because marketing technology spending has dramatically grown to more than $120 billion while the universe of tech vendors has grown to more than 8,000 companies.
The document suite was created by the ANA in concert with the ANA’s data and technology partner, Venable LLP, and includes:
- Marketing Technology Procurement Checklist: A step-by-step guide for procuring and managing marketing technology that also highlights issues and resolution strategies.
- Marketing Technology Best Practices and Tips: A compilation of key insights and common pitfalls found in the procurement and implementation of technological assets.
- Sample Service Level Agreement: A set of legal terms and conditions that addresses common client or customer concerns. This SLA works as an amendment or addendum to an existing or provider-side master services agreement (MSA) and includes annotated notes drawing attention to details typically addressed in the MSA.
- Sample Master Services Agreement: A sample contract with focused terms for the procurement of marketing technology services, including online solutions and applications.
- 2020 Marketing Technology Glossary: A collection of terminology compiled from industry-leading data, marketing and advertising technology companies, and trade organizations.
The document rollout will include a communications plan that includes webinars, committee discussions, and the opportunity for ANA members to work with Venable on navigating the contract template.
“It’s vital that we build awareness for what is essentially a ‘technology standard’ for procurement and related decision-making,” said ANA Group EVP Bill Tucker, who spearheaded the initiative for the trade group. “Without these materials, marketers run the risk of wasting millions in the marketing management process over time.”
The initiative is sponsored by the ANA’s Board of Directors and its Global CMO Growth Council. It is driven by the ANA’s 12-point Growth Agenda, which includes “Data, Technology and Measurement” as a key strategic platform (see below).” Its mission is to help marketers “establish a set of universal best practices for marketing and advertising technology that specifically drives business growth.”