Enterprises See a Growing Need to Better Understand MarTech

As digital marketing becomes a priority for enterprises, new research indicates that understanding marketing technology (MarTech) is a growing necessity for those looking to be successful.

The “Modernizing the Mix: Transforming Marketing through Technology and Analytics” report from DataXu has discovered that the 78 percent of U.S. marketers believe that understanding MarTech is becoming an increasingly important skill.

Seventy-two percent of U.S.-based marketers also said that understanding digital media is growing into an essential skill. In general, less than half of U.S. marketers (43 percent) said they are currently more digitally advanced than their competitors.

The data shows that businesses are placing MarTech responsibilities on specific individuals as well. Seventy-six percent of U.S. marketers stated that they have one person on their team who is primarily responsible for managing marketing technology.

The authors of the report stated, “In 2016, brand marketers find themselves charged with the success of their businesses more heavily than ever before. Perhaps this is why marketing and advertising technologies continue to make their way into marketing departments and marketing budgets around the world at an accelerating pace.”

Some Companies are Still Under-Utilizing MarTech

Although organizations are committing to MarTech, research shows that many are still under-utilizing their resources. The “2016 Digital Marketing Technology Survey” from Real Story Group found that 49 percent of companies have internal access to digital marketing expertise. However, 33 percent “somewhat” disagree that they are leveraging the full potential of MarTech.

“Basic marketing principles have long been known and passed down, but the application of new engagement technology remains difficult,” said Tony Byrne, founder of Real Story Group.

Forty-seven percent said that they still do not have the right marketing tools for the job. However, 59 percent have a digital marketing strategy that spans their entire enterprise.