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Building Your Tech Budget

Posted on 1.27.2017

Creating a tech budget – how much a company can/is willing to spend on the technology that helps run their business is a complicated project made more difficult by competing interests (e.g., sales vs. marketing, or stakeholders vs. everyday Web workers, or available time and money vs. resources needed). 

Understanding the basics of what it takes to operate online today will help everyone in an organization understand why funds need to be allocated to certain resources. So let’s build your tech budget based on what it takes to operate today.

Infrastructure & Reliability (50%)

From which content management system (CMS) is in use to how a company will monitor uptime, the infrastructure and reliability (I&R) of a site should serve as the foundation – and large percentage – of a company’s tech budget. There is no use sending people to a site if content isn’t displayed, for example, or the site is down because it was overwhelmed by traffic. 

I&R budget should account for a combination of:

Hosting

CMS

E-commerce platform

Web experience management

Domain name

Performance monitoring

Content delivery network

Shopping cart/wish lists

Enterprise resource planning

Security protocols and software

+ Also read: 13 Techies Share Must-Have Website Tech & My Favorite CMS Is…

Analytics & Optimization (25%)

Once I&R solutions have been accounted for, brands need to understand what people are doing on their site, how they are buying, why they are leaving, what they want from their experience and other data that can help them optimize the experience they are offering. 

A&O should account for a combination of: 

Personalization software

Analytics system(s)

Heatmaps

Visitor recordings

Survey tools

Data visualization 

Tag manager

Data management platform 

A/B testing platform

Enterprise order management

+ Also read: My Essential Analytics & Optimization Tools

Acquisition & Retention (25%)

Customers (whether they are subscribers, business partners or any type of person who buys products or signs up for services) are the livelihood of a company and bringing them onboard and keeping them for the long run is imperative to every organization’s success. Acquisition and, often more important, retention should be given the budget they deserve.

A&R should account for a combination of:

Competition monitoring

Keyword research

Affiliate network/management

Email service provider 

Predictive analytics solution (to prevent customer churn)

Marketing automation 

Customer relationship management

Search engine optimization solutions 

Social media management 

Sales automation/accelerators 

Employee advocacy programs 

Referrals program

Content amplification and discovery tools

Social listening tools

Mobile apps

Coupon delivery/support

Live chat

Retargeting 

Product ratings and reviews

Online communities

User-generated content (sourcing, using, etc.)

Advertising: search, social, display, print, native

+ Also read: My Essential Analytics & Optimization Tools & Collaborative & Curated Social Media


How does your organization build its tech budget? Provide insights for your peers in the comments below!

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