Maximizing the Value of Martech Innovations

29 Pages·2017·3.85 MB·English

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State of Marketing Technology 2018
Maximizing the
Value of Martech
Innovations
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8 Table of Contents
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01 Executive Summary
02 Key Findings
03 Martech’s Biggest Adoption Challenge Isn’t Interest
06 First Comes Agility, then Adoption
10 Optimism for Martech Grows, Despite Roadblocks
13 Technology and Humans Come Together as Partners
18 Building the Martech Stack
19 Maximize Return and Increase Agility
25 Methodology
26 About the Authors
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As consumer demands for seamless, personalized To add more fuel to the fire, vendors aren’t making
experiences skyrocket, marketers turn to sophisticated organizations’ lives any easier. Faced with quickly
technologies to meet those needs. Automation relieves growing competition, vendors tend to highlight their
the pressure, data-driven insights ease the pain – and solutions’ features and benefits rather than how
according to the State of Marketing Technology 2018 organizations can best use them alongside their
report, marketers want even more help from technology current strategies. Organizations must understand
in the months and years to come. how their teams will absorb solutions before they will
feel confident in a purchase.
We know from our State of Marketing Technology 2017
report1 that marketing organizations have made strides Our third annual report, created by Walker Sands
in embracing martech innovations and building best- Communications in partnership with chiefmartec.com,
of-breed stacks. However, slow and steady has yet to works to fill in the missing pieces. Based on a survey
win the race. In 2018, most organizations still lack the of 300 professional marketers, the survey finds that
agility necessary to derive full value from their marketing organizations need more help maximizing
technology investments. the benefits of their martech solutions to keep up with
the rate of innovation.

1 1 https://www.walkersands.com/2017-State-of-Martech
8 Key Findings
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52% 65%
Marketers have rejected the “set it and Marketing organizations will increase
forget it” philosophy. their martech budgets.
Fifty-two percent of marketers assess their martech Sixty-five percent of marketing organizations say
stacks at least every six months. they plan to increase their spend on martech in the
next year.
28% 56%
Marketing organizations can’t keep up The future of marketing requires both
with the rate of martech innovation. technology and creativity.
Sixty-three percent of marketers feel the martech Fifty-six percent of marketers believe an equal mix
landscape has evolved rapidly or at light speed in the of creativity and technology will drive marketing
last year, while only 28 percent feel the same about strategies five years from now.
their company’s use of martech.
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Martech’s Biggest
Adoption Challenge
Isn’t Interest
Marketers understand the importance of
keeping pace with martech innovation, and
they’re proving it. Organizations have made
room for internal martech discussions and they
plan to increase their martech spend in the
year ahead.
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8 Most marketing organizations to market, it becomes more
01 “
2 add tools to their stack every difficult for decision makers
h
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e six months to a year, which is to not only keep pace with
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of Companies strive to keep up the martech space, but
ate with new technologies, but also generate ROI from faster than most marketing
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ds also understand it’s unrealistic their investments. organizations can absorb it.
n
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S (and unhealthy) to add new
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ke tools every month. However, as This has been the case since — Scott Brinker
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W vendors ramp up the speed at our first report from 20162. Founder and editor of chiefmartec.com
which they bring new offerings
2 https://www.walkersands.com/New-Martech-Buyer-Journey
How often does your company add new tools to its
marketing technology stack?
Every week Every month Every six
months
9% 13% 26%
We never implement
Once a year Every two years new martech
solutions
27% 15% 10%
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Source: Walker Sands State of Marketing Technology 2018
8 Most marketing organizations up. The majority of respondents
01
h 2 still cannot implement solutions assess their martech stacks
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e of pace with their own hopes challenges, marketers have
Stat for the future. Three years of rejected a “set it and forget
ds unmet expectations later, and it” approach to martech
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k same troubles. respect marketing technologies
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and operations as true
However, marketers are aware disciplines, not just an ad
of their own struggles to keep hoc set of tools.
How often does your company assess its marketing
technology stack holistically to ensure you have the right
tools to meet your goals?
Weekly Monthly Every six months Once a year
11% 17% 24% 24%
Every two years More than every We never assess
two years our stack
9% 10%
6%
5 Source: Walker Sands State of Marketing Technology 2018. Percentages don’t add up to 100% due to rounding.
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First Comes Agility,
then Adoption
Most marketers can’t keep up with the rate
of innovation within the martech ecosystem,
leaving them unable to assess new technology
based on features and benefits. Instead,
marketers focus only on solutions that are
easy to implement, allowing them to keep
their heads above water.
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8 While 63 percent of marketers To date, only 15 percent of marketers
01 Marketers are not universally
2 feel the martech landscape has say their company is very agile when
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e evolved rapidly or at light speed in it comes to embracing new solutions earning results they hope
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M the last year, only 28 percent feel for their martech stacks. This lack of for or need.
of their company’s use of martech has agility may read like a soft metric,
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Stat advanced at the same pace. but it’s causing real investment pains. — Scott Brinker
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How do you feel the marketing technology landscape has evolved in the past three years?
31% 48% 15%
2% 4%
Has not evolved Has evolved slightly Has grown steadily Has evolved rapidly Has evolved at
at all light speed
Source: Walker Sands State of Marketing Technology 2018
How do you feel your company’s use of marketing technology has evolved in the past three years?
28% 37% 20%
8% 8%
Has not evolved Has evolved slightly Has grown steadily Has evolved rapidly Has evolved at
at all light speed
7 Source: Walker Sands State of Marketing Technology 2018. Percentages don’t add up to 100% due to rounding.
8 Compared to last year, the most aren’t at a point where
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2 number of marketers saying they can evaluate martech
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e their company invests the based on its features. What
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of decreased. The percentage of the basics: ease of use and
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at organizations reporting that ease of implementation. They
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ds martech enables employees to simply can’t dedicate time and
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ke This indicates that the martech about how tech innovations can
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W ecosystem is evolving at a rate give them a competitive edge.
companies find impossible to
match. And even when they do It’s important to understand
make investments, marketers what’s standing in the way of a
are not universally earning more agile evaluation standard
results they hope for or and boosted ROI. Budget
need. Because marketing is the top factor preventing
organizations struggle to organizations from making
remain agile as the martech greater martech investments,
landscape quickly evolves, as will likely always be the case.
How agile is your company in its ability to add new solutions to your
marketing technology stack?
31% 46% 15%
8%
Not at all agile Not very agile Somewhat agile Very agile
8 Source: Walker Sands State of Marketing Technology 2018