Buying enterprise technology for your media organization can be a complex task, but if one of your solutions is on its last legs, it’s critical that you act before the system becomes a drain on your productivity—or worse, a risk to your company’s security.
The media industry, like virtually all sectors in our society today, is becoming increasingly dependent on technology. Nearly 80% of companies throughout North America estimated that their IT budgets would grow (or at least remain the same) in 2021. With so many new enterprise technology purchases on the docket and so many options available, how do you choose the right solution for your media organization?
First, make sure your technology is aligned with your business goals. This is easier said than done because different departments often have varying priorities. The key to successfully purchasing and implementing technology is to pay close attention to which department is acting as the catalyst for change when it comes to procuring a new solution—for example, is it executive leadership, digital advertising, sales, CRM, analytics, or finance?
In part 1 of this series, Guide to Buying Enterprise Technology, we’ll explore the challenges that unclear goals can cause, and outline a goals-based approach to buying tech that can help you make the process smooth.
Lack of clarity on goals poses a challenge
The publishing industry has been through a remarkable period of disruption in the last several decades, which has required that sales teams adapt to using new tools and selling new products in an omnichannel media world. While customer relationship management (CRM) technology and order management systems (OMS) foster communication across a media organization, problems still remain, especially when it comes to alignment around goals.
“Two thirds of senior managers can’t name their firms’ top priorities,” according to this article by Boardview. “[Only] 51% of top team members say they have a clear sense of how major initiatives and priorities fit together, [and only] 30% of those directly reporting to senior executives clearly understand the connections between corporate priorities.”
Shiny, new tech is often used as a bandaid for organizational issues such as strategic misalignment. However, this approach only complicates matters further. If your media company’s employees don’t understand what objectives your team is working toward and how the technology you use is supposed to help them reach these goals, the gap between decision-makers and individuals executing on strategy may become wider.
A goals-based approach to buying enterprise tech
It’s essential to define what success with a new technology solution looks like for your media organization. If multiple departments will be impacted by the procurement, but one in particular is driving it, building a goal tree can be a helpful way to visualize how each stakeholder’s objectives relate to one another and whether any competing priorities exist. Create a working group with one representative from each team and meet weekly to evaluate your progress.
“The return you get from enterprise applications is, in many cases, a direct proportion to the preparation, process and people power you put into it. If you buy it correctly, software will be an investment that will provide your company a substantial return year after year,” says this article by Consumer Goods Technology.
Part of getting buy-in from multiple areas within your organization involves listening to their questions and concerns, and offering solutions that will put them at ease and address any objections they may have about switching solutions or vendors. Considering that 30% of companies cite failure to coordinate across departments as the biggest hurdle to executing strategy, it’s worth your while to get this part of the project right.
For example, your finance department may be driving the implementation of a new system with a goal to decrease the amount of time spent on accounting administration and improve billing accuracy. This solution should be able to communicate with your other systems so you’re not complicating your tech stack by implementing new finance software.
Gather feedback from all departments that rely on your legacy technology before seeking out a new solution, regardless of whether a team operates the software hands-on or simply receives regular reports from the system. Ask them:
- how frequently they use the solution
- what they like and dislike most about it
- how they execute various tasks in the system (and get them to show you)
- what functionality they’d like to see in a new piece of enterprise tech
These are just a few ways to help ensure that your new investment doesn’t become obsolete before its time.
Modern technology for the media industry
Make the process of buying new enterprise tech painless. Lineup’s Adpoint media sales solution offers a new standard for software in the media industry. This cloud-based technology comprises four critical systems in one—CRM, OMS, finance, and analytics—to decrease your cost of ownership and improve your team’s efficiency.