India MarTech Survey 2020

India MarTech Survey 2020

The inaugural Mirum MarTech Report

The report reveals increased spending commitments on MarTech. Those who are invested in the MarTech space will find the MarTech Survey 2020 findings quite encouraging. And those who are still on the fence will hopefully start thinking about making the leap into this space soon.

Digital marketing is maturing, placing more emphasis on ROI than flag-planting. The next few years are likely to see companies upskill their own talent, in order to take advantage of increasingly sophisticated MarTech tools. The industry is still gearing up for new technologies like blockchain, IoT, AR/VR, AI, etc. and their impact is yet to be measured. MarTech firms have to partner with companies to ride this wave together. These are not challenges, but opportunities.

Key findings include:

  • MarTech spends are poised to increase: 80% of marketers expect their organisations to invest more in tools and technologies over the next few years.
  • Business results are driving marketers’ decisions: ROI and efficiency are the key drivers for adopting MarTech, reflected in the use of “old guard” tech such as CRM and personalisation.
  • MarTech’s benefits follow a maturity curve: 87% of those who invested in MarTech find a definite positive impact over a three-year period.
  • The era of cautious experimentation is upon us: Technologies like wearables and voice search need to show solid use cases before being considered.
  • Both B2C and B2B offer big opportunities for MarTech and solutions providers: While consumer-facing firms are more bullish on new tech opportunities, B2B businesses are not far behind.
  • MarTech companies need to help clients with internal skilling and integration: 64% of marketers see the lack of internal skills while 59% of marketers see cross-organisation adoption as hurdles.

For more in-depth insight and analysis, read Mirum’s India MarTech Survey 2020

Hareesh Tibrewala & Sanjay Mehta

Joint CEOs, Mirum India

published on

25 March 2020

Category

Technology & innovation

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