More Than 50% of Companies Have No Strategy in Place for Optimizing Their Martech Stack Says New DemandLab Report
DemandLab, a technology-focused marketing consultancy, has released survey results of more than 100 marketing leaders that explores perspectives on optimization of their marketing technology (martech) stack.
[Philadelphia, PA] – [April 27, 2020] – DemandLab, a technology-focused marketing consultancy, has released survey results of more than 100 marketing leaders that explores perspectives on optimization of their marketing technology (martech) stack. The survey indicates how executives recognize the critical role that a high-functioning stack plays when aligned with strategy, but are struggling to achieve their optimization goals.
Key Findings Include:
- 53% of marketing leaders said that they have no strategy in place for optimizing their martech stack.
- Marketing leaders identified marketing efficiency (41%), marketing ROI (37%), and revenue attribution (33%) as the top 3 challenges preventing optimization of the martech stack, indicating that they are motivated to leverage martech to achieve a better bottom line.
- 71% of marketing leaders are outsourcing some of all of their martech optimization, indicating that many lack the requisite specialized tools and knowledge in house.
The Martech Stack Optimization Survey targeted an exclusive segment of 117 senior-level CMOs, owners, and C-suite executives to gain insight into how leaders perceive the role of martech in their businesses and how they are optimizing their stack to deliver on the marketing strategy, enhance the customer experience (CX), and increase ROI.
“As an agency working with tech-forward marketing leaders, we wanted to explore the challenges and opportunities that next-generation technology poses for them and help them benchmark against their peers,” said Rhoan Morgan, Founder and CEO of DemandLab. “As CMOs take on increasing responsibility for designing and delivering exceptional customer experiences (CX), it has become more critical than ever for martech systems to integrate fully with the entire CX stack.”
At a time when the average enterprise employs as many as 120 marketing cloud services, it’s of little surprise that the survey indicated that leaders are under pressure to demonstrate results and are struggling to achieve key priorities such as improving marketing efficiency, increasing marketing ROI, and improving the customer experience.
“The survey revealed that more than half of marketing leaders have no strategy in place for optimizing the martech stack, and that’s concerning,” said Eric Hollebone, Chief Service Officer of DemandLab. “Technology is not a strategy. It’s simply a tool, and that tool needs to be optimized and aligned to a clear marketing strategy in order to deliver results and ROI.”
Complete survey results are available in The CMO’s Imperative: MarTech Stack Optimization from a Leadership Perspective. Access the full report here.
DemandLab is a technology-focused marketing consultancy that accelerates revenue for its clients by aligning marketing, sales, and customer success functions through customized strategic solutions that leverage system architecture, data science and analytics, and end-to-end customer journeys. With solutions designed to scale, DemandLab helps clients advance their digital transformation strategy and create competitive differentiation that advances business goals and drives revenue. Learn more about this award-winning consultancy at DemandLab.