More marketers are turning to MarTech to achieve their top objectives. However, new research suggests that they are struggling to reach their goals and see an ROI from their efforts.
Ascend2 recently conducted the “Marketing Technology Trends Survey” and discovered that the majority of marketers (63 percent) are still “working on it” when it comes to implementing MarTech. In addition, most respondents (58 percent) said that they have only been “somewhat successful” at achieving top priorities with their MarTech strategy.
When it comes to challenges, the majority of marketers (52 percent) cited integrating disparate systems, followed by attributing revenue to marketing (47 percent). Increasing marketing ROI (36 percent), improving decision making (34 percent) and improving marketing efficiency (28 percent) have also been challenges associated with achieving MarTech strategy success.
Marketers Still Struggle to Grasp the Concept of MarTech
Previous research suggests that there is still room for improvement when it comes to marketers’ full understanding of MarTech.
Wipro Digital conducted a survey to determine how confident executive marketers are in MarTech. The results found that 75 percent of respondents are confident in their own MarTech proficiency. However, only 6 percent believed that their marketing team was MarTech conversant. Additionally, one-third of respondents believe that less than half of their team has the necessary expertise to deploy MarTech effectively.
“Equipping marketing teams with the right MarTech talent and expertise is only half of the battle – the real challenge lies in determining how MarTech fits into the larger digital transformation and enterprise renovation program, and how to reinvigorate operating models, culture, and leadership, accordingly,” said Andy Coghlan, Global Head of MarTech with Wipro Digital.