Marketing Is Becoming Technology-Driven, and the Future Is Open Source

Wealth marketing software cannot handle the quantity and quality of work required today to serve an unpredictable customer base. Companies are looking for flexible, modern solutions/tools that are scalable and that can stand the test of time without incurring high costs.

The idea of   buying your own software is questionable. However, the choice to purchase it may be motivated by the lack of a talent pool to adapt or integrate non-proprietary software, or by peer pressure to opt for larger, more complete proprietary applications.

But perhaps not all companies need the decoration and resource footprint of ready-to-use commercial products (COTS), nor the cost of investing in an ROI investment. This is where open-source software comes into play.

The premise of open source is full visibility and transparency. The company that purchases the software has full access to the code. Your software engineers can make changes to the source code, gather more resources, or even create links as they see fit.

Open-source software is not necessarily synonymous with a global IT community that has access to the source code for business software. In most cases, where open-source software is developed by an entrepreneur, the code never leaves the solution provider’s development team.

How open-source can strengthen your marketing teams

Great flexibility for marketing innovation

Open-source software gives marketers more space to experiment with new ideas and promote innovative lead promotion campaigns. This elasticity is often lacking to function spontaneously, something in the case of your own applications. Greater flexibility means that marketers can safely integrate new tools and technologies in quick response times to initiate new, productive, and revenue-generating conversions before the competition allows it.

More data, more perspectives

From in-store traffic to buyer’s browsing habits, insights into a marketer’s database are virtually fertile ground for more business. However, it involves creating a single source of truth for customer experiences across all channels – physical, online, or mobile. The problem of self-blocking is reduced with open source and there are greater interoperability, continuous data flow, and easier integration between multiple data flows.

Transparent squares

The first to use open-source on the market is sure to get the much-needed benefit. There is more efficiency in internal operations. Integration of open source marketing software is easier and requires less training (at a lower cost), allowing teams to work smarter and encourage cross-functional collaboration. Guided by transparent work culture, marketing teams can perform better and deliver better results.

Economical alternative

Often, the terms “open source” and “free” go hand in hand. Companies can buy the code for free or license the software at significantly lower prices, if not free of charge. And due to the transparent nature of the open-source, marketing departments can believe in buying technology. Finally, the impact on the marketing budget is less.

Going Open Source, and Then What?

Companies planning an open-source architecture in the future should review their KPIs and investigate what improvements are needed. What are the obstacles? What will open-source improve or fix?

Once all stakeholders, including industry, development, security, and legality, are included, a consensus can be reached. After the purchase, the purchasing team can analyze the scores of the open-source marketing applications available on the market. Comparing with the previously established requirements, they can restrict the choice of the product that fits the project.

Most companies stop there, which prevents them from getting the most out of open source. The real impact of open source must be determined to assess future investment initiatives.

For a comprehensive open-source management strategy, consider the following:

  • Open innovation: discover new ideas at a lower cost. By identifying internal champions that drive these projects, companies can take advantage of the collective intelligence of open source communities to scale and manage them.
  • First, a defense management program. The idea is to minimize the likelihood and impact of catastrophic failure.
  • Marketing teams must be trained in public management and operations management.

The question of security

There is also a lot of skepticism about the security aspect of using an open-source application. This is where the open-source approach still wins on every hand. With the cooperation of the supplier’s development team and business users, gaps in the security framework are identified and corrected effectively to ensure the deployment of combat test software.

According to Red Hat’s The State of Enterprise Open Source – 2019 report, approximately 29% of open-source operating software for IT leaders cites enhanced security as one of the main benefits of open source; security only produces the lowest total cost of ownership, priced at 33%, as an advantage.

In the future

It is not without reason that many of the pioneers in the marketing software market are open source. And many leaders who are not involved in mergers and acquisitions join the club, as others have.

Marketing is no longer a “hope for the best”. Personalized and targeted campaigns distinguish marketers from their competitors. Fascinating, contextual, and dynamic messages not only generate a higher conversion rate but also help a lot in building and maintaining customer loyalty.

To take full advantage of evolving technologies, it is essential to remain agile, flexible, and open to change. And in that sense, open-source software achieves the goal of marketing technology.