As marketers adapt to the changing demands of their customers and feel the impact of the pandemic, new research indicates that many are replacing their existing marketing tools.
MarTech published the “Martech Replacement Survey 2021,” and statistics showed that the majority of marketers (24%) have replaced their marketing automation system. This is followed by email distribution (23%), CRM (23%), and attribution/business intelligence (19%).
“The most widely replaced solutions surely reflect the intensified need for digital engagement we’ve witnessed over the past year to 15 months,” wrote the authors of the report.
Data capabilities appeared to lead in terms of the reasons behind switches in marketing tools. Most respondents (51%) cited data centralization/data capabilities as their primary reason for switching. This was followed by improved customer/digital experience (42%).
Leveraging Marketing Data and Analytics
Marketers have had access to an abundance of data, but as previous research has shown, they are still struggling to leverage it.
Salesforce conducted its “State of Marketing” report, and statistics indicated that, on average, B2B marketers have at least 12 sources of data they can tap into at any given time. By 2022, this is expected to increase to 15 sources. However, just 33% are “completely satisfied” with their ability to generate more relevant experiences with customer data.
Additionally, only 42% are satisfied with their data’s quality/hygiene, and 40% are satisfied with its completeness. This suggests there is still room for improvement among marketers in terms of data and analytics.