MarTech continues to grow in prominence, but new research indicates that marketers have still been slow to reap the benefits, and MarTech utilization strategies are failing to help them achieve primary objectives.
Ascend2 recently published the “Marketing Technology Utilization Survey” to determine how strategizing is helping marketers reap more of the benefits of MarTech. Statistics showed that the top objectives of developing a MarTech utilization strategy are to improve marketing efficiency (61 percent), increase marketing ROI (57 percent) and improve decision making (38 percent).
However, the majority of survey respondents (52 percent) said they have only been “somewhat successful” with their existing MarTech utilization strategy. Those who have been “very successful” (43 percent) are the “best-in-class” marketers.
Increasing marketing ROI (47 percent), improving marketing efficiency (40 percent) and attributing revenue to marketing (39 percent) have been the most critical challenges to the success of marketers’ MarTech utilization strategies.
Marketers and the Struggle to Implement MarTech
This is not the first report to suggest that marketers are still struggling when it comes to implementing MarTech. Previous statistics indicate that many continue to roll out MarTech more slowly than expected.
Ascend2 published the “Marketing Technology Trends Survey” and discovered that most marketers (63 percent) are still “working on it” when it comes to implementing MarTech. In addition, the majority of marketers (58 percent) claim that they have only been “somewhat successful” at achieving top priorities with their MarTech strategy.
Most respondents (52 percent) said that integrating disparate systems was the top challenge when it comes to adopting MarTech.