In this episode of In-Ear Insights, the Trust Insights podcast, Katie and Chris discuss the age-old question of whether to buy or build marketing technology. They explore various aspects of this decision, including business strategy, in-house skills, regulatory requirements, long-term considerations, and the value of owning versus renting. They also touch on the growing importance of large language models and AI in the marketing technology landscape. Tune in to gain insights into the factors to consider when deciding whether to buy or build a solution and how it aligns with your business goals and needs.

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In this week’s In-Ear Insights, let’s talk about buy or build.

Now, this is a topic that has come up many, many times over the years from the earliest days of whether you should even run your own email server, versus using a commercial service through marketing technologies, open source products, for example, like matomo, and Mautic, versus commercial properties like Hubspot, and even to the in artificial intelligence, which is where there’s a lot of discussion happening today with open source models like the llama family and the Mosaic Family versus commercial services like ChatGPT.

So the question is, should you buy? Or should you build? So Katie, in you’re looking at this from a governance perspective, a corporate responsibility perspective and a hey, that thing vanished, that I was paying for a perspective? What’s your take on buy versus build? Well,

unsurprisingly, there’s a lot of dependencies.

And one of those dependencies is your overall business strategy.

Where do you want to be with your business? You know, in a month, six months, two years, five years, and so that will start to educate everyone on whether or not you should build your own thing and own it? Or if it’s just a small part of moving the business forward, and it’s okay to buy it.

The second piece is, you know, do you have the skills in house? Or do you have to build out that skill set first to maintain this thing? And so on and so forth? It almost kind of sounds like we’re talking through the five P’s? What is the purpose? Who are the people? What is the process? What platform? And then how do you measure performance? It’s almost crazy how, you know, you can always tie it back to the five Ps.

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