The main takeaways from The Martech report 2019!

Measure measure measure!

The Martech report 2019 has been released and shows the result from a survey made by several companies in marketing and technology. What do we need to consider when the phenomenon martech, marketing technology, is becoming reality? We are listing the most important insights and take-aways!

Martech is an established strategy nowadays, and no longer just a buzzword. It has become more common to use tools in Martech and more CMO’s choose to invest in the technology. By defining Martech as a strategy, you put the business and customer in focus and not the technology itself. This forces you to use the tools to find customer insights and optimize your marketing and not only to automize assignments and processes in for example, sales.

Organisation, competence and data are the foundation for a successful way of working with Martech. The whole organisation must realize the benefits of using technology in marketing; one person can create an idea but big changes are hard to do alone. This is why you need to have management on board, the right competence for the technology and then the data to start working and analyzing. First when the basics are in place you can start to integrate different systems and find new solutions.

To put the customer in focus may sound like old news, but even though customer focus is something that every company talks about, way too few are actually working with it. Only 51% answered that they work with their customers during the creation of their customer experience. It’s not enough to only think about the customer, we need to get to know them. How? By collecting and structuring the data you have about your customers, defining measure points, analyze and keep being engaged in your customers’ behavior. To take a clear ownership over the customer and the customer experience will make a big difference when the demands for experience and service will be higher.

Cross the lines, when it comes to working teams. To integrate Martech in the best possible way and to get the full potential, you will need several competences. By letting tech people, analysts and marketers work together in one team they will find more insights and develop the business in multiple ways, at the same time. Put up clear goals and strategies for the work progress and start with small teams, eventually you will succeed to create an organized way to work between units.

GDPR made companies become more structured and forced them to find and define areas of use for their data. Without GDPR, the process of structuring data had taken much longer time, and actually, 90% of the data that exist today is created during the last two years. That means that it is not only the amount of data that has increased, but also the variation of it. With bigger investments in Martech, that amount of data can be used in an efficient and relevant way to give crucial insights about the customer which enables an improvement of the marketing.

The development in Martech has been fast and it will not slow down. Between 80-90% of the respondents answered that marketing technology has changed the way they interact with customers, that they plan to invest even more in the area and that they think that Martech is the key to reach their goals within sales, profits and marketing.

If you haven’t dared to start with Martech yet, our advice is to start small and then to increase steady. Keep it simple!