The real challenges of MarTech 2019
Marketing is now a technology-powered discipline. But it is not easy to take the full advantage of the new marketing technologies. At Customersonly we love MarTech, but all that glitters is not gold. Here are the 2019 true MarTech challenges.
These are the real MarTech challenges of 2019
MarTech has exploded in the last five years. Gartner trending data shows that about a quarter of all marketing budgets are dedicated to MarTech, with the remainder almost evenly split between paid media, services and labor.
But you have to be exceptionally smart and competent to take full advantage of the new marketing technologies. These are the real MarTech challenges of 2019.
#1. Breaking through the buzz is more complicated than ever.
Companies are spending billions of dollars building their marketing technology stack, but brands still struggle to deliver business results. With all the data, technology, and ever-expanding platforms, it’s easy to get lost in complexity.
Brands need to manage, design, reinvent, and proactively work to keep their brand evolving. (In YouTube or Instagram rankings, corporate brands barely appear.) Brands need to be culturally relevant to consumers and deliver best-in-class customer experiences in order to deliver business results.
It is evident that brands need more than new technologies; they also need better ideas, creativity, and engaging content. Just as a reminder.
#2. Lack of quality data
How much are data silos costing you? Is your customer data clean, unified, and consistent across all marketing channels? 83% say that their biggest challenge is that their data is old or outdated, according to a recent DemandGen report. Quality data is fuelling a personalized customer experience, AI-analytics, and relevant messaging to customers and prospects.
Why? Only 13% of marketers agree they have a robust data acquisition strategy in place. Managing customer and prospect data across systems must become a priority for organizations. That is why the Director of Marketing Data becomes the hottest new role in marketing. Do you have one?
#3. Lack of technical marketing talent
The most significant marketing advantage is technical marketing talent. Digital experts are the human building blocks of digital transformation. Digitally mature marketing departments are using experts and developing their digital talent in creating conditions that will enable the organization to experiment, learn, and collaborate. Even though you have the right technology – if the team is wrong, execution will be poor.
#4. Are you going too fast or too slow?
Here’s the million dollar question: have you improved your customer experience with MarTech? If not, your MarTech roll-out goes too slow. But beware, if you go too fast, it can create large-scale business disruption in your company.
The roll-out of new artech solutions must be made step by step, piece by piece and stabilized until problems are worked out, and customer experiences are measured.
#5. Delivering personalization at scale.
Based on Gartner research, the customer experience will overtake price and product as a brand differentiator by 2020. MarTech gives brands the tools and technologies that personalize their customer and marketing experience. However, marketers still struggle with the execution of personalized customer experiences.
In a perfect world, you have a customer-data platform (CDP), and a 360-degree view of the customer, but don’t wait for perfection. Sometimes fewer data put into action is more effective than oceans of it.
#6. Make customer data integration simple.
Instead of increasing efficiency, the MarTech ecosystem has created problems with data redundancy, accuracy, and integration. The customer data platform (CDP) is the “new brain” of the smart marketing stack. A CDP helps you assembling and operating a marketing-tech stack. It is a centralized repository that gathers all the valuable information you have about your customers. CDP is considered the best tool for creating unified views of your customers.
Psst… Wich marketing technology is the right to choose? Customersonly will soon launch the Marketplace for MarTech – thousands of MarTech solutions, and even more critical – the consultants and specialists who can handle them.