Although marketing technology (martech) has long been a part of many marketers’ strategies, new research suggests that it hasn’t always helped them achieve their primary objectives.
Ascend2 recently published “The Outlook on Marketing Technology” report, and statistics indicated that the majority of marketers (72%) claim that their martech stack has only been “somewhat successful” at helping them achieve their strategic goals. About 22% of the best-in-class respondents said it was “very successful,” while 6% claimed it hasn’t been successful at all.
Nearly 62% of marketers said that at least some of the components of their martech stack will need to be updated this year in order to achieve their strategic goals. About half of respondents claimed that they intend to dedicate up to 20% of their overall marketing budget toward martech this year.
Narrowing Down the Most Effective Martech Tools
As marketers begin to leverage new martech to achieve their key objectives, previous research indicates that many have already been struggling with the abundance of technology at their fingertips.
SharpSpring, in conjunction with Ascend2, conducted “The State of MarTech” report, and data indicated that most marketers (52%) have between one and three tools in place to run or measure their campaigns. Twenty-seven percent have between four and six tools, and 12% have between seven and 10 tools at their disposal.
“Technology stacks can easily become crowded, full of disparate tools that don’t speak the same language,” wrote the researchers of the report. “This can cause major issues including wasted budget and time as well as missing or siloed data, all of which result in creating lackluster experiences for the customer.”