Marketers across India are bullish on martech as the emphasis shifts towards ROI (return on investment) rather than a flag-planting approach, according to Mirium India.
The digital agency’s The India Martech Report 2020 found that 80% of respondents expect to raise spends on technologies over the next five years, with customer engagement and personalisation of experiences stated as the key drivers for increased investment.
The study also highlighted the maturity of brands and marketers towards new technologies, and an understanding that it still needs to ultimately deliver business results. Data-driven, individual-focused marketing presented the most interesting opportunities for 84% of respondents, while 70% were keen on optimising customer experience.
In contrast to this, less than 30% were keen on adopting new technologies - marketers are unlikely to adopt such tools unless they see a specific use case or benefit.
Other findings from the report include:
- Investments follow a maturity curve – 87% of marketers believe it takes at least three years to demonstrate ROI in martech
- 64% of marketers see a lack of internal skills, while 59% cite cross-organisation adoption as a hurdle to martech growth
- B2C and B2B businesses are equally committed to adopting martech
- Data and analytics skills will become a major hiring criterion for marketers
- 70% of marketers say confluence of creativity and technology will be the key to crafting successful digital campaigns five years from now
The survey report was conducted as a quantitative questionnaire with 500 Indian marketers, with representation across company sizes, sectors and geographies.
Sourced from Mirium India, ETBrandEquity, afaqs!