Marketers feel they are wasting money on technology.
Over three-fourths say they can’t meet their goals with their current software, according to Marketing Flab to Fab, a study released today by Resulticks. Less than a fourth are happy with their existing stack But it’s not for lack of trying. Of 318 marketers polled, 48% have invested in major marketing cloud software suites. And 19% have built an integrated best-of-breed martech stack.
But 66% of those who use cloud software suites can’t meet all of their goals, and 38% feel they still need more technology. Presumably, that includes email software.
Here’s one clue as to how things go wrong: 55% say vendors are guilty of overhype and help foment market confusion.
Here’s another: Of those with siloed solutions, 15% say their tools do not integrate well.
Many companies are jaded with the buzzwords and concepts being bandied about.
For example, a mere 16% have fully implemented big data solutions, and 20% have given up on the idea entirely. Also, 31% feel the buzzword is overhyped.
In addition, only 27% feel their big data vendors deliver exactly what they promise. Another 21% say they overpromise and under-deliver. And 52% say they deliver some of what they promise.
Similar is the hype that “marketers will keep up with customers on the winding omnichannel journey.”
Asked to rate their omnichannel software and its impact on execution, only 13% feel it is excellent, and 29% say it is good. However, 36% believe it’s fair, and 22% that it’s poor.
They show equivalent levels of disappointment when it comes to real-time marketing and personalization, although 36% say they are energized by the latter, and 42% are optimistic.
Resulticks, a provider of marketing automation services, feels it has a handle on why marketers are disenchanted overall.
“From our experiences as a martech solutions provider, we’ve seen many marketers challenged by lack of integration since most of the cloud software suites are sold as independent modules,” states Redickaa Subrammanian, CEO and co-founder of Resulticks.
She adds: “With so many moving parts, it’s increasingly difficult for these suites to deliver on their promises. The problems often lie in the technology marketers have acquired and consequently their inability to synthesize and leverage data seamlessly to communicate contextually with their audiences.”