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.
25 March 2020
More in Technology & data
How should we think about AI?
WPP’s Chief AI Officer and Satalia CEO, Daniel Hulme, says understanding the intended applications of AI technologies is perhaps the most compelling way of thinking about AI
CES returns with purpose
Partnering with the United Nations Trust Fund for Human Security gave CES 2023 a definite sense of purpose. But technologies enhancing a huge spectrum of human experience were on the agenda too
AI: adopt or fail
Artificial intelligence (AI) is proving to have the power to transform commerce, says Chloe Hobart. But what do business leaders and consumers think it is, and how is it being used?