MarTech Replacement Survey: Which features are important to marketers?
It's no surprise marketers looked for better features when choosing new solutions. But which features were front of mind?
The key reason for replacing both homegrown and commercial applications was the need for better features, according to the 2020 MarTech Replacement survey. But what features were marketing organizations looking for? Let’s take a deeper dive.
Integrations are key. There are three ways to go with your marketing technology stack.
- Build a set of fully integrated solutions that can communicate with each other and readily share data.
- Tolerate a stack where key solutions are integrated while others are not.
- Permit a collection of siloed solutions where communication is minimal or non-existent.
We think most marketing teams are stuck with 2., but aspiring to 1., and the Replacement Survey tends to confirm that integration capabilities were at the forefront when considering replacements — and even motre so in the current survey than in 2021.
The importance of data remains consistent. Data drives marketing organizations. The need to centralize and manage data more effectively was cited as a factor in the decision to replace martech solutions by about half of respondents in each of the last three years. Interestingly, small businesses cited data centralization as their number one feature requirement — perhaps because integration is a less pressing problem for relatively smaller stacks.
The need to measure ROI. In the current survey, the ability to measure ROI tied data capabilities for second place as an important factor in choosing a replacement. Replacing martech — and especially mission-critical components like marketing automation and CRM — is costly, and can be time-consuming and disruptive.
Respondents to our survey were realistic about the need to justify such initiatives with hard numbers.
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Why we care. Was cost a factor in choosing replacement technologies? Yes, of course it was. But it wasn’t the dominant factor; and neither was the much-discussed need to improve CX. What was key was making the stack work through integration and data management — plus being able to demonstrate that the changes were actually improvements.