Marketers are spending freely on technology this year, judging by the Martech Replacement Survey from Martech.
Of companies polled, 21% have replaced their email distribution platform -- down from 24% in 2021.
But while email remains the most effective channel, it came in fourth in terms of platform replacement -- behind marketing automation, CRM and SEO tools, at 23% apiece.
Only 17% of midsize companies replaced their email platform. SEO topped the list, at 23%.
How did they pursue these replacements? The respondents say they:
Of the replaced systems, they had been in use for the following periods of time:
The most replaced systems in the 3-5 year range were:
However, email replacement dropped to 20% in the 1-2 year range, behind SEO tools (24%) and marketing automation (23%).
Firms that replaced a commercial system did so for these reasons:
And homegrown applications were replaced due to:
Which qualities were they looking for in new systems? They sought:
One other factor—at least for 35%—was COVID-19 and the conditions it created. That’s down from 47% in 2021.
Who championed these buying decisions within the organization? They were driven by:
Most companies didn’t hire new people to accommodate these changes—62% retrained existing staff. Another 13% did hire, and 18% both hired and retrained, while 7% outsourced to an agency.
Martech surveyed 295 marketers in Q2 2022. Of those, 53% work in B2B companies .14% for B2C and 33% for firms that serve both businesses and consumers.