Once upon a time, martech was the easy answer for CMOs who were facing stagnating budgets and trying to do more with less. Tools brought features and capabilities unheard-of, and helped you work faster, smarter, and market better than you ever could before. But today, as we’ve moved past the hype and “peak martech”1, it’s more likely the case that you have far more tools than you need, and some that don’t quite deliver as promised.
According to Gartner’s 2019 Marketing Organization Survey, almost a quarter (24%) of CMOs say that martech strategy, adoption, and use is one of the top three challenges to driving customer acquisition or loyalty due to insufficient budgets and resources—which is why one of their recommendations is to hire martech generalists to address the skills gap. Coupled with the fact that research shows only 61% of the martech stack is being utilized2, martech’s place within the marketing engine starts to look shaky.
We’re not disputing the efficacy of tried-and-trusted tools that form the basis of a martech stack like Salesforce, Marketo, or anything from the Google-Facebook duopoly. But when it comes to the shiny new toys, the new kids on the block that are trying to revolutionize the martech landscape, it’s important to remember that martech isn’t magic.
There’s a misconception that martech is a silver bullet—build the perfect stack and you’ve “solved” your marketing function. While it’s true that great tools enable great work, it’s a fool’s errand to think that there exists an interconnected web of tools and tech that could guarantee success. Wowed by a sales spiel, it’s easy to be seduced into thinking that tech can get you from A to Z, when the reality is that it takes you from B to Y. The human component is what takes you from A to B and the all-important Y to Z.
5 questions to ask before buying more martech
Before you embark on a martech shopping spree, ask yourself the following questions:
1. What is the problem you’re trying to solve?
2. Have you considered the total cost of ownership?
3. How will this new tool fit in with how things are currently done?
4. How will you measure effectiveness and impact?
5. Is martech the answer?
That’s where marketing as a service (MaaS) comes to the fore. With the more practical economics of an offshore model, you can avoid the martech trap and instead tap resources that are skilled in execution, leaving you free to focus on strategic initiatives.
The 2X advantageWe’re intimately familiar with the common pitfalls in implementation, integration, and day-to-day operations, and the breadth of our experience in execution gives us a unique vantage point—one that a run-of-the-mill consultancy can’t offer.
Are you thinking of expanding your martech stack? Why not explore an alternative first—get in touch to see why MaaS could be the answer you didn’t know you were looking for.
1. Marketing Technology Landscape Supergraphic (2019): Martech 5000 (actually 7,040)
2. Marketing Technology Survey 2018: Martech Adoption Surges as Brands Pursue Personalization, Measurement and Advertising Accountability