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1、The potential opportunity forMarTech inIndiaEach edition of the Mirum India MarTech Reportbrings in some new surprises and insights.TheMirum India MarTech Report 2023 is no different.For me,two things seem to stand out veryclearly:Depending on whom you talk to,the estimatedsize of the MarTech indust
2、ry in India is expectedto be anywhere between$35bn and$50bn by2026.This is indeed a sizeable opportunity anddemonstrates how brands are finding MarTechsolutions not only as the best and most cost-effective way to deliver the correct brandmessage to the right customer at the right timeover the right
3、channel,but also for creatingsome fabulous customer experiences that canresult in increased brand loyalty.It is interestingto note that while marketers globally spendabout 25%of their total budgets on MarTechsolutions and services,in India we are still atabout 15%(Page 11)which demonstrates aremarka
4、ble headroom for growth.1The emergence of MarTech EXPLORERSIn our last report,we saw a cohort(MarTechHEROES)who were not only using MarTechsolutions very effectively,but also seeing goodROI and were looking at making continuedinvestments in this area.Now in this report,wesee the emergence of another
5、 cohort(MarTechEXPLORERS).These are brands and businessesthat have not dabbled much in MarTech before,but now want to plow ahead to leveraging thepower of MarTech.Quite clearly,both these trends are linked toeach other and demonstrate the maturity of theIndian MarTech Ecosystem.While the world at la
6、rge prepares for a tough2023,India shines,and the MarTech industryshines even brighter.Hope you find the findings of this report usefuland valuable.Do feel free to share yourfeedback and observations with us.FOREWORDHareesh TibrewalaJoint CEO,Mirum India?INDIA MARTECHREPORT 2023FOREWORDWe are living
7、 in a constantly evolving,digital-first world.Brands are expected todeliver customer value by ensuring theyare present at the right place at the righttime.To succeed in todays marketplace,organizations require the support of goodmarketing automation tools and teamswith diverse skills.The report emph
8、asizes the need for brandsand organizations to work with growthpartners,as preferred by MarTech HEROES.Also,with a strong focus on ROI,it isimperative that partners,both platformproviders and service providers,are able todeliver value for the solution to the client.The Mirum India MarTech Report 202
9、3 hasmany such insights.While the reportbrings out interesting trends,it is also astep forward to bring more clarity tobrands and growth partners on how theecosystem can drive value for itself and itsclients.At WPP,we have been hugely investing inbuilding out our tech and data practices.Already stro
10、ng on client engagement,creative,and media services,we have nowcreated a comprehensive ecosystem forour stakeholders one where value isdelivered at every touchpoint.CVL SrinivasCountry Manager,India2?INDIA MARTECHREPORT 2023Po oweww red byb6Research methodologyObjectiveThe 3rd edition of the Mirum I
11、ndia MarTech Report gives an understanding of the current Indian MarTechlandscape.One of the key findings is that organizationsspending on MarTech-while growing-still hassignificant headroom forgrowth.A cohort of organizations which we call MarTech EXPLORERS will lead thisgrowth.Apart from these coh
12、orts,we also delve into how different roles within an organization differentlyperceive various aspects of MarTech.MethodologySelf-administered online surveyStructured questionnairePurposive sampling methodologyDuration of the survey:6 mins210Sample coverage spread across IndiaSample sizeIndustries c
13、overedE-Commerce,FMCG,Retail,Hospitality,BFSI,Media,Technology Product,IT Services&Solutions,Education/EdTech,Real estate,Manufacturing,Automobile,ConsumerDurables,Healthcare?INDIA MARTECHREPORT 20237Research methodologyProfile-Who did we talk to?Q:If yourorganization were to decide on The type of t
14、echnology to adopt foryourenterprise,which of the following would best describe the role you will play?Q:Which of the following is closest to yourjob title?*Employee strength and business type were identified using desk researchRole to decide MarTechMain decision makerKey decision makerStrong influe
15、ncerOne of the influencersBusiness-to-BusinessBusiness-to-ConsumerA mix of B2B and B2CBusiness type5000&above employees1001-5000 employees100-1000 employeesSub 100 employeesEmployee strengthCEO/MD/FounderCDOCMO/Marketing HeadEVP/SVP/AVPManagerJob title?INDIA MARTECHREPORT 202310of respondents expect
16、ing toincrease spending on MarTechoverthe next 3 yearsMarTech spends and usage88%MarTech spending is poised toincrease across company sizesand sectors,with?INDIA MARTECHREPORT 202311MarTech spends and usageBetween 16%&25%tween 16%&25%5%or belowDont knowMore than 25%Between6%&15%31%33%18%5%13%India r
17、emains behind global averages when it comes to the percentageof marketing budgets being spent on MarTech,indicating a large headroom for growthQ:What percentage of yourcurrent marketing budget do you spend on MarTech?Percentage spend on MarTech(India)25.4%*Source:The State of Marketing Budget and St
18、rategy 2022by GartnerIn India,2 out of 3 respondentsspend less than 15%of theirmarketing budget on MarTechwhile globally*,MarTech spendsare estimated to beof the average marketing budget?INDIA MARTECHREPORT 202312MarTech spends and usageChange in MarTech spends over thenext three yearsUsage of MarTe
19、ch toolsQ:Which of the following statements describe yourorganizations usage of MarTech tools?Q:How do you expect spends on MarTech in yourorganization to change overthe course of the next 3 years?My organizationsometimes usesMarTech toolsMy organizationrarely usesMarTech toolsNo change47%36%7%10%My
20、 organizationextensively usesMarTech toolsMy organization hasnever usedMarTech tools53%35%2%IncreasesubstantiallyDecreasesomewhat10%Increasesomewhat1/3of respondents extensively use MarTech tools,35%expect tosubstantially increase MarTech spends overthe next 3 yearsrd?INDIA MARTECHREPORT 202313MarTe
21、ch spends and usageMirum MarTech QuadrantMarTech EXPLORERS emerges as the largest cohort in theMirum MarTech QuadrantMarTechEXPLORERSIncreaseDecreaseNeverusedExtensivelyusedMarTechHEROESMarTechSTAGNANTSMarTechLAGGARDSMarTech spends overthe next 3yearsCurrentMarTech usage5%31%7%57%MarTech HEROESThese
22、 companies are extensive users of MarTech tools currently andwill increase their spending substantially in the next three years.MarTech STAGNANTSThese companies are extensive users of MarTech tools currently,buttheir spends will either decrease or not change in the next three years.MarTech EXPLORERS
23、These companies have sometimes,rarely or never used MarTech tools,but will increase their spending substantially or somewhat in the nextnext three years.MarTech LAGGARDSThese companies have sometimes,rarely or never used MarTech tools,but will either decrease or not change their spending in the next
24、 threeyears.?INDIA MARTECHREPORT 2023Co-Founder&CMOScan thisTo watch the fulllength videoBelson CoutinhoTherefore,its critical since it involves manyentities.The users,partners who implement it,and IT teams that implement the MarTechsolutions,all must follow the same value system,which considers dat
25、a privacy a top priority anddoes not compromise on it.So,creating a culturethat respects the customers,their data,and itsrelated components is of the highest priority.Additionally,its important to have our partnersand the solutions we work with have the samevalue system that we are driving for ourse
26、lves,which is going back to no compromiseon customer privacy or data.At every point intime,the value should always uphold theprinciple of being respectful,honest,andtransparent in what we try to commitand promise to our customers.IN CONVERSATIONExpectations from using MarTech toolsFirstly,using MarT
27、ech tools,I want to be drivinghyper-personalization.We need to look at thosemicro-moments which you can pick up in acustomer journey to use them and leverage theMarTech capability to drive one-on-onepersonalization.Second,I really would want to leverage the powerof different languages and use MarTec
28、h to deliverpersonalized content from a lingual point of view.I think it would enable us to give the customercontrol and empower them to make the rightdecision.Adapting to the changing landscapearound data-including the death of thecookie,stronger regulationsTechnology and regulations around data wi
29、ll keepevolving for the benefit of the customers.Asorganizations,its important to create a culture ofdata safety and privacy.?INDIA MARTECHREPORT 202316More important in marketing-creativity ortechnology?Creativity is not just the design aspect ofsomething,but it is also good,simple content,keeping
30、it transparent,being honest,and havingempathy in the content.I think thats the mostimportant piece before you even start leveragingthe MarTech solutions.And then,of course,technology will evolve,and it will always get better.It will give us much more power and control interms of what we can do.Witho
31、ut the rightbalance of content,creativity,and technology youuse,I dont think one can do justice.To add to it,I feel one should also focus on buildinga good product and service.Just honor thepromise youre making to a customer and let yourproduct/service do the talking.Its an ecosystem ofcreativity,co
32、ntent,and technology that comestogether,but its always on the underpinning of agreat product and service that you put togetherand deliver to your consumer,thus upholding yourpromise and values.So,I think its a balance and amix of all these things together.A collaborative effortis required to trulyle
33、verage the poweroftechnology orMarTech solutions.So collaborating withthe MarTech solutionpartners is crucial.“A balance betweencreativity andtechnologyis the key.”18Being able to deliverand track ROIsecures a top spot as the main driverforthe adoption of MarTech toolsObjectives and drivers?INDIA MA
34、RTECHREPORT 202319Objectives and driversQ:What are yourtop drivers foradopting/using MarTech tools?Top drivers for adopting MarTech toolsrespondents cite thateffectiveness is the top driverof MarTech usage,followed byease of tracking,and efficiency3 out of 4respoeff f f ectof Maease oEffectiveness o
35、fmarketing activitiesEase of trackingperformanceEfficiency ofmarketing activitiesUnderstandingattributionReducingmanpowerDatasecurity1 1 1 1 10 0 0 0 0%10%curity?INDIA MARTECHREPORT 202320Objectives and driversQ:Which are the top business objectives that you think you will achieve using MarTech in y
36、ourorganization overthe course of next 3 years?MarTech is no longeronly about marketing,it needs to drive sales!Top business objectives achieved using MarTechWhile lead generation,customer engagement andbrand building are presentin the top four objectives tobe achieved using MarTechlast year as well
37、 as this year,sales enters the top four forthe first time this yearLeadgenerationCustomerengagementBrandbuildingSalesCustomerretentionand lifetime valueHigherprofitabilityby driving efficienciesCRMBrandloyaltyyy?INDIA MARTECHREPORT 202321Objectives and driversQ:Which are the top business objectives
38、that you think you will achieve using MarTech in yourorganization overthe course of next 3 years?Role-wise preference of brand building as abusiness objective achieved using MarTechCEOs tend to preferlong-term planning overshort-term gainsAmong respondents,CEOs believe thatis their top business obje
39、ctivethat MarTech will help drivebrand buildingRole-wise prefef f rence of brand building as aCEO/MD/FounderCDOMarketing head/CMOEVP/AVP/SVPManager?bu?INDIA MARTECHREPORT 202322Objectives and driversQ:What are yourtop drivers foradopting/using MarTech tools?Cohort-wise preference of attributionas th
40、e top driver for adopting MarTechMarTechEXPLORERSMarTechHEROESMarTechLAGGARDSMarTechSTAGNANTSThere is a high correlation between the increase in MarTechspending and wanting to measure attributionrdof MarTech HEROES and MarTechEXPLORERS focus on understandingattribution to determine what isdriving th
41、eir companies salesMore than 1/3?a?INDIA MARTECHREPORT 2023Challenges faced to prove theROI of your tech stackinternallyThe tech stack ROI is a difficult oneto prove initially ahead ofimplementation;since you areworking on guesstimates andprojections.But once the tech stackis implemented and once it
42、 startsshowing improvements and whereyou are measuring everything,thenat that point of time you knowexactly where it is delivering ROI.So,proving the ROI of the tech stack iseasy if you are number oriented.Scan thisTo watch thefull length videoDeepali NaairEx-CMOEnsuring teams are constantly abreast
43、with the changes that are happeningIn terms of keeping up with the tech evolution,I undertake initiatives to encourage my teamby organizing talks with the latest technologyspecialists and leading industry experts.Iincentivize them by gifting relevant books.Furthermore,I am a firm believer in formalc
44、lass education in newer methods,technologies,and innovations.That being said,as a leader,it is imperative to walk the talk,leaving no room for excuses.It ensures aculture of learning and skill enhancement inyour team.Getting in and learning newmediums,techniques,and technologyyourself,earns you resp
45、ect and gets theteam paying serious attention.*The views expressed are personal viewsIN CONVERSATION?INDIA MARTECHREPORT 202324As a leader,getting in andlearning new mediums,techniques,and technologyyourself ensures a cultureof learning&skillenhancement in yourteam.One piece of advice for our reader
46、sabout how to be a better marketer(with technology)todayIts never about which technology is beingused but how to deal with the saidtechnology.You need to be both ageneralist and a specialist.You need toknow 60-70%of what roles otherteammates are performing to holisticallydevelop as a marketer.Second
47、ly,marketers are infamous for shying awayfrom number crunching,which needs tochange in this digital world,especiallywhen performance marketing hasbecome core to any organization.Andlastly,have humility.Its not about acompetitive environment but rather acollaborative one that ensures teamdelivery.Mak
48、ing friends with people fromother specialist skills ensures a positiveteam performance,and humility plays anessential role in maintaining your relationswith the peers or partners you work with.*The views expressed are personal views“Marketers mustbe on top,notjust of dataprivacy,but also data securi
49、ty.”26respondents cite that theirmarketingstrategy is driven by an equal mix ofboth creativity and technology.Growthpartners who offercombined tech andcreative services will be able to createa lot of value forbrands2 out of 3Creativity20%Equal mix of both67%Technology10%Marketing strategy driven byQ
50、:Is yourmarketing strategy driven more by creativity ortechnology?*The sum does not add up to 100 because 3%respondents chose othersTechnolo10%Strategy and challenges?INDIA MARTECHREPORT 202327Strategy and challengesQ:What are yourbiggest challenges orhindrances when it comes to adopting/using MarTe
51、ch tools?Unsure about the ROI ofusing MarTech toolsusing MarTech toolsImplementing orsetting upMarTech is too complexDon t have the requiredskillsets to useMarTechOuraudience is notdigital-firstOurpartners don t have therequired skillsets to use MarTechUnable to convincedecision makersThe process of
52、 choosingMarTech tools is too complexBiggest challenges in adopting/using MarTech toolsAs seen in the earliersection,the ability todeliverand track ROI is the biggest driverforMarTech adoption.On the flip side,the oneswho refrain from using MarTech tools,citethat the biggest hindrance is beingunable
53、 to measure ROI.We believe both these observationsare two sides of the same coin?INDIA MARTECHREPORT 202328Strategy and challengesChallenges faced by MarTech STAGNANTS andMarTech LAGGARDS in adopting MarTech toolsBeing a growth partner,not just a vendor,is an opportunity toconvert the MarTech STAGNA
54、NTS and MarTech LAGGARDS intoMarTech EXPLORERSQ:What are yourbiggest challenges orhindrances when it comes to adopting/using MarTech tools?90%of theMarTech STAGNANTS believe thatcomplex implementation process isthe primary challenge,whereas closeto half of the MarTech LAGGARDSbelieve that the proces
55、s of choosingthe platform is too complexOuraudience is not digital firstUnsure about ROIProcess of implementingis too complexProcess of choosing theplatform is too complex90%50%80%47%33%40%MarTechSTAGNANTSMarTechLAGGARDS33%47%33%40%MarTechLAGGARDS33%?INDIA MARTECHREPORT 2023IN CONVERSATIONChoosing a
56、nd investing in MarTechplatformsChoosing the right MarTech platform dependson client requirements and situations,such astheir location,investment budget,and goals.AtWunderman Thompson,we engage withclients to conduct a diagnostic process toidentify their requirements and score differentMarTech platf
57、orms according to theirpreference.We later apply a subjectiveapproach and make recommendations basedon political or market considerations.We thenrecommend a particular platform or two,andclients go about choosing the platform.Longanswer short,the best way to choose or investin a MarTech platform is
58、to conduct athorough evaluation and scoring,bothquantitative and qualitative,with the help ofexperienced MarTech professionals who canhelp identify which platforms would fit clientsneeds the best.Scan thisTo watch the fulllength videoHasan HasnieCTO APACEnsuring agencies help brands performbetter us
59、ing MarTech toolsClients often look for MarTech tools that offerautomation,efficiency,repeatability,predictability-tools with rich features that allowthem to target and analyze customer data easilyand effectively.The choice of tool should bebased on specific requirements and the clientsexisting tech
60、nology landscape.I feel like plug-and-play tools work better when there is acohesive stack at play.Some of the preferredpartners include Salesforce,SAP,Adobe,andemerging architecture tools.Ultimately,thechoice of tool depends on the one that fulfilsmost of the requirements in each situation.?INDIA M
61、ARTECHREPORT 202330Investment in MarTechplatforms is bestaccomplished through athorough evaluation andscoring both quantitativelyand qualitatively.Data-oriented customer-centric approachto marketingUnfortunately,its taken a long time for issues likedata privacy and data sovereignty to come to thefor
62、e.Some of us in the MarTech and the IT industry,in general,have been talking about it fora while.But it has taken government action andregulations to get the attention of large enterprisesto finally address this.Earlier,the focus usually usedto be on growth and creating amazing experiences.Privacy w
63、as something that unfortunately has beenan afterthought,but Im glad that its becomingfront and center.At Wunderman Thompson,we conduct securityreviews for all technology solutions and collaboratewith clients to address privacy concerns.Identifyingcustomers is not necessary to gain insights fromdatas
64、ets.Clients want to gain the right insights thatthey need to glean from the datasets without havingto identify customers.We just have to make surethat our solutions continue to address this situation.“Todays marketingis hyper-specific.In addition to the segments that we already have today,micro-segm
65、ents are emerging.”32When it comes to the most effectivemarketing technology in achievingorganizational goals,customer-centrictechnologiesare the clearwinner,with CRM andpersonalization being preferred byover60%of respondentsTechnology selection?INDIA MARTECHREPORT 202333Technology selectionMarTech
66、HEROES,apart fromdriving effectiveness frompersonalization and CRM,arecautiously experimenting withnew-age technologies whichMarTech STAGNANTS seem tobe missingMarTech HEROES are able to drive effectiveness from a significantlywiderrange of technologies compared to othercohorts perhapsthat is why th
67、ey are MarTech HEROESQ:Which of the following technologies do you feel are very effective in helping you achieve yourmarketing goals?Cohort-wise preferencefor effective technologiesMarTechHEROESMarTechSTAGNANTSPersonalizationCRMDashboardsChatbotsAI/MLCXM platformsCustomerdataplatformsDigital commerc
68、eplatformsLow code/no codeAR/VRDAMplatformsMetaverseVoiceBlockchainInternet ofThings(IOT)Web366%68%40%60%31%30%30%31%29%20%30%28%25%0%23%0%20%11%11%0%9%0%10%5%5%0%5%3%3%0%0%Digital experienceplatforms90%90%20%?INDIA MARTECHREPORT 202334Technology selectionApproach forselecting marketing technologyQ:
69、As a marketer,what will be yourpreferred approach forselecting any marketing technology?Technology is a partof an integrated suiteOthersTechnology is pointsolution69%26%5%The preferred approach forselecting marketing technologiesremains similarto the trend observed in 2021Marketing technologies that
70、are part of an integratedsuite continue to remainpopular,withrespondents preferringthem over a point solution7 out of 10?INDIA MARTECHREPORT 202335Technology selectionQ:As a marketer,what will be yourpreferred approach forselecting any marketing technology?81%64%65%69%72%CEO/MD/FounderCDOCMO/Marketi
71、ng headEVP/AVP/SVPManagerTechnology is a partof an integrated suiteTechnology ispoint solutionCEOs widerpurview of various business functions across theirorganizations reflect in theirpreferred approach to selectingmarketing technologiesAs compared toother roles,CEOshave higherpreference fortechnolo
72、gy as apart of anintegrated suiteRole-wise approach for selectingmarketing technology?INDIA MARTECHREPORT 2023IN CONVERSATIONUsing digital to provide a better-personalizedexperience to customersThe journey towards digital has been going on for quitesome time and as we progressed,it has taken differe
73、ntforms and avatars.We were amongst the early adoptersof cloud,amongst the early adopters of converting paperinto images and using some sort of technology to convertimages into data to take the journey forward.Theinteresting inflection point came for us when we startedcreating journeys that are more
74、 digital than digitized andgetting direct-to-customer.In my view,the digital journey must be designed with thecustomer in mind,where the journey is seamless andfrictionless.We look at end-to-end digital journeys,but wealso need to think about what matters to the customer,what engages them,and what m
75、otivates them to finishthe journey.To drive engagement for a customer,youneed to look at your customer holistically.We introducedpayments and rewards pretty much for that objective.Aswe built our digital journeys,an example could be ourconsumer app platform,where the customer was enabledto complete
76、this journey online on a digital platform.Scan thisTo watch the fulllength videoKurush IraniPresidentAdapting to the changing landscapearound data-including the death ofthe cookie,stronger regulationFor us data is the backbone,it enables us toseamlessly reach our customers.Havingsaid that,I think of
77、 late we have also seen alot of people abusing how they collect dataand how its being manipulated in a waythat is not to the benefit of the customer.So,we are highly supportive of the changeswhich are being recommended.I knowtheyre still in the draft stage but as the databill comes,we highly encoura
78、ge some of theearly directions and thoughts it states,because its not taking away the benefitfrom the customer,but it is giving morechoices to the customer in termsof what consent they aregiving and so on.?INDIA MARTECHREPORT 202338If you want to makethings personalized andnot have a commonapproach,
79、data is the waywe can do it.Ensuring teams are constantly abreast withthe changesOnce a year we do an exercise which is of our longerstrategy plan.As a part of this exercise,we consciouslybenchmark whats happening in the space around us,extensively for a good 20 to 30 days.This is an industry-agnost
80、ic exercise where we look at variousdevelopments in the digital space.We then understandwhich of these have relevance for us,which of these wemust take on,and how we take it forward.Similarly,we do something called customer experienceactivity where again we look at ourcustomer experience in our busi
81、ness properties.Weanalyze the experience being created for those journeys,across the industry.Since we also work with an ecosystem of partners,wekeep engaging with them continually about what is itthat they have to offer,what is changing in this space,and doing joint workshops on what we can collabo
82、rateon,what we can pilot,and what we can take forward.I think some of the changes are going to help thecustomer and only the players who abide bythem can benefit,and it will work in our favor.“Technology is not an end,but a means to an end.”40Low data maturityand siloed dataacross organizations will
83、 give asignificant rise to the need forCustomerData Platforms(CDPs)in the nearfutureData and MarTech?INDIA MARTECHREPORT 202341Data and MarTechWe aredata-savvy-we use data to makecritical decisionsWe aredata-aware-manually compile datafrom various sourcesWe aredata-proficient-standardised processesa
84、s related to dataWe aredata-unawareWe aredata-driven-data is embedded intoall business processes37%23%22%15%2%Data maturity of organizationData-driven organizations,which constitute 15%of the totalrespondents,have a data-driven marketing edge that most otherorganizations might missQ:How would you ra
85、te the data maturity of yourorganization?*The sum does not add up to 100 because 1%respondents did not respond to this questionof respondentsmanuallycompile datafrom varioussources37%?INDIA MARTECHREPORT 202342Data and MarTechQ:How would you rate the data maturity of yourorganization?We are data-dri
86、ven-data is embeddedinto all business processesWe are data-aware-manuallycompile data from various sourcesWe are data-proficient-standardisedprocesses as related to dataWe are data-unawareWe are data-savvy-we use datato make critical decisionsCEOs are more critical of data maturity in theirorganizat
87、ions ascompared to otherrolesData maturity oforganization-CEO vs CMO viewpointCEO/MD/FounderCMO/Marketing head0%25%50%75%100%?INDIA MARTECHREPORT 202343Data and MarTechCustomer data unificationCustomer data unificationCompletecustomer dataunification is done59%20%13%Customer data isunified across so
88、mesystems whilesome systems stillcontinue to be siloedCustomer data iscompletely siloedwith different systemsnot talking to each otherNo data auditdone hence we arenot so awareThe critical approach taken by CEOs on customerdata unificationwill ensure a significant top-down push forCDP adoption in th
89、eimmediate futureQ:How would you rate the data unification of yourorganization?*The sum does not add up to 100 because 4%respondents did not respond to this questionOnly13%of respondentscite thatcompletecustomer dataunificationis done in theirorganization?INDIA MARTECHREPORT 2023IN CONVERSATIONMarke
90、ting budget spent onMarTech and outlookIf I look at the MarTech spending fromfive years ago,it started from maybe 20-30%of the marketing budget.Today,ithas increased to 50-70%.Interestingly,Ibelieve that when I get my nextincremental marketing budget,almost90%will be allocated to MarTech.And ifyou a
91、sk me if marketers are investingenough in marketing technologies,Ithink they definitely are.Is thatinvestment quantum going to increaseboth in terms of absolute value andpercentage?The answer is acategoric yes for both.Expectations from theMarTech platformOne of the biggest expectations is theabilit
92、y of the platform to be nimblebecause the growth of technology isnot linear.Since newer pieces oftechnology necessitate adaptation.Iwould expect MarTech platforms to bea lot more flexible on that front.Another significant expectation w.r.t.adaptation is the ability of MarTech toadapt to the business
93、s existingtechnology systems.Until and unlessthere is a seamless integrationbetween these two entities,the toolspower will always be suboptimal,andyou will not be able to capitalizeon its potential.Scan thisTo watch the fulllength videoJuzer TambawallaDirector-Head of Sales Enablement?INDIA MARTECHR
94、EPORT 202346If one has to examinethe core of any market,the key is to make sureyou communicateeffectively.One thing that will help ourreaders be better marketersIn recent years,marketers have had toaccelerate their learning curve.Today,the learning momentum has to besignificantly higher.If I had to
95、learnsomething from scratch seven or tenyears ago,I could do it at my ownpace,and that was quite a luxury.Today,by the time you master a newmarketing tool or piece of technology,its already matured.In my opinion,marketers who realize this morequickly tend to benefit more.I thinkits also better for t
96、he entire marketingfraternity since when people startdoing innovative things,others willalso learn faster,adapt,etc.“If the integration isnt seamless,the power of the tool will alwaysbe suboptimal.”48Diverse skill sets are required to effectivelyutilize MarTech tools.This results inof respondents us
97、ing an external partnerin at least some capacity fortheircampaign executions70%MarTech team?INDIA MARTECHREPORT 202349MarTech teamData and analyticsOmni-channelmarketing automationUnderstandingof CXCreativitySE0Content creationSocial mediaCoding/SoftwaredevelopmentBrand strategyPreferred team skill
98、setsIn the current VUCA world,adiversity of skill setsis expected in an organizationsMarTech team,with data and analyticsskills sought to be most criticalQ:Select the top 3 skills you d look forin a new hire that joins yourorganizations MarTech team?INDIA MARTECHREPORT 202350MarTech teamCEOs tend to
99、 expect theirMarTech team to have a broaderset ofskills,whereas CMOs tend to prefersome skills farmore than othersPreferred MarTech team skill sets-CEO vs CMO view pointQ:Select the top 3 skills you d look forin a new hire that joins yourorganizations MarTech team70%0%10%20%30%40%50%60%SocialmediaBr
100、andstrategyOmni-channelmarketingautomationContentcreationCreativityData andanalyticsSearch engineoptimization&managementUnderstandingof CXCoding/Software developmentCEO/MD/FounderCMO/Marketing headCEOs follow amore holisticapproach topreferred skill setsin the MarTechteam,whereas71%of CMOs cite data
101、and analytics astheir mostpreferred skill ina team?INDIA MARTECHREPORT 202351MarTech teamQ:Which of the following best describes how yourmarketing campaigns are executed?Marketing campaigns executionMarketing campaigns executionWeoutsourceourcampaignexecution withsome orallsupportfrom a partnerWe do
102、 allourcampaignexecutionin-house30%30%67%67%Other3%3%Preference fora wide range of skills that marketing decisionmakers want in theirMarTech team is reflected in theirapproachforexecuting marketing campaignsrespondents prefersome orall oftheircampaign execution withsupport from an external partner,p
103、erhaps because external partnerscan fill in the skills gap,if any7 out of 10?INDIA MARTECHREPORT 202352MarTech teamQ:Which of the following best describes how yourmarketing campaigns are executed?MarTech HEROES over-index more on working with external partners78%MarTechHEROES22%60%40%MarTechSTAGNANT
104、SMarTechLAGGARDS+Preferred approach in campaignexecution MarTech HEROES vs MarTechSTAGNANTS and MarTech LAGGARDS view pointWe outsource all ormost ourcampaignexecution to an external partnerortakesome support from a external partnerWe do all ourcampaign executionin-house?INDIA MARTECHREPORT 2023IN C
105、ONVERSATIONMarketing budget spent on MarTechand outlookWe operate in real estate,which is both anaspirational product,and a basic need.We thustry to reach as many people as possible so thatthe sales velocity is increased.My reach ordistribution is linked to my sales velocity-if Ihave to get the reac
106、h and distribution wedepend on the digital platform.Having said that,digital penetration isincreasing within the segments and for amarketer like us,we spend 60%-70%of ourmarketing budget in the MarTech medium.With the tools available,I can do micro-targeting and map these efforts with costefficiency
107、.Year-on-year the MarTech spendinghas increased by 15%-20%,and going forwardthis is going to be the major medium for us.Scan thisTo watch the fulllength videoRajeeb DashHead of Sales&MarketingExpectations from using MarTech toolsIn todays world,customers are seekingexperiences.There is no doubt that
108、 technologytoday allows marketers to reach and positiontheir communication in the right places andmarkets.Customers,however,are looking for more thanjust product benefits.Today,the product issecondary to experience and thats where I wouldlike the MarTech tools to help us deliver more.Ifwe talk about
109、 a brand,whether it is Adani orsomeone else,then the experience associated isthe most important thing.In addition to gettingthe desired product from a great brand,your customers expect a goodexperience,so whether thatexperience is delivered,beit physically or digitally,is essential.?INDIA MARTECHREP
110、ORT 202354Today,social media has evolvedbeyond commentary tweets.Asa marketer,creating animpactful group of influencers isessential.So with a focusedapproach and good productattributes,even small influencerscan create an impact.One piece of advice for ourreaders about how to be a bettermarketer(with
111、 technology)todayFocus on one-to-one over one-to-many.If you want to make things personalizedand not have a generic approach,data isthe way we can do it.Todays marketingis all about making sure that one iscommunicating with the targetsegment,the customer,and theprospect at an individual level.It can
112、 bedone in a mass way but needs to havecustomization at an individual level.Earlier,television was the only sourcefor advertising but today everything boilsdown to our on-the-go and highlypersonal devices.You cannot havegeneric communication going to everyone.You need to make sure that youare custom
113、izing your offering with thehelp of tools like AI and ML.“The importance ofexperience overproduct hasincreased in recentyears.”56With the advent of Web3,and themovement towards a cookie-less world,rethinking marketingstrategyis on the cards formost organizations.However,not everybody seems to beprep
114、ared forthis changeFuture outlook?INDIA MARTECHREPORT 202357Future outlookLiving in a cookie-less worldMy organization isnot awareof the age of the cookiecoming to an end12%19%20%48%My organizationhas a planabout how to handlethis changeMy organization hasalready experimentedwith some of the toolsth
115、at will help us be effective in thecookie-less worldMy organization isawareof this impendingchange,but we havenot given any thoughtto how we will handlethis changeOrganizations that have already experimented with some of thetools orhave a plan to handle the transition to a cookie-less worldare more
116、likely to effectively maximize the opportunityQ:As the age of the cookie comes to an end,how well prepared is yourorganization to live in a cookie-less world?*The sum does not add up to 100 because 1%respondents did not respond to this questionrespondents organizationsare eithernot aware of theage o
117、f the cookie coming toan end ordo not have a planto handle this change7 out of 10?INDIA MARTECHREPORT 202358Future outlookAwareness about Web3,Metaverse,Blockchain and CryptoClosing the awareness gap would be the first step to adoptingnew technologiesQ:How aware is yourorganization of recent develop
118、ments in areas such as Web3,Metaverse,Blockchain and Crypto?*The sum does not add up to 100 because 3%respondents did not respond to this questionWe arekeenly awareand are running programs withinthe organization that leverage thesetechnologies for our business10%10%19%58%There iswidespread awareness
119、There issome awareness,but its sparse andonly in pocketsWe areunawareof the recentdevelopmentsin these areasrespondents have limitedawareness about Web3,Metaverse,Blockchainand Crypto8 out of 10?INDIA MARTECHREPORT 202359Future outlookrespondents agree that theadvent of Web3 will requiretheirorganiz
120、ation to completelyrethink theirmarketing andMarTech strategy6 out of 10Web3 will require organizations to completelyrethink marketing and MarTech strategyQ:Do you agree with the following statement:The advent of Web3 will require ourorganization to completely rethink its marketing and MarTech strat
121、egy?*The sum does not add up to 100 because 1%respondents did not respond to this questionStrongly disagreeSomewhat disagreeSomewhat agreeI am not sureStronStrongly agree?INDIA MARTECHREPORT 2023About Mirum IndiaHaving worked with B2B and B2C clients like KFC,Manyavar,McDonalds Philippines,Mahindra,
122、Byjus,etc.fromacross the globe and a wide range of industries,we boast of successfully delivering 100+MarTech projects.Wework with the best solution providers in the industry,including Salesforce,Sitecore,Braze,WebEngage,Sprinklr,etc.,to help brands achieve their marketing goals and drive business g
123、rowth.Mirum also offers a bouquet of digital services across Digital Strategy,Media Planning,Creative Services,Healthcare Marketing,Technology Solutions,and Social Listening&ORM.Mirum,part of the Wunderman Thompson South Asia Group,is a Digital Agency with expertise in MarTech.Webring over a decade
124、of experience in the entire competency pyramid-starting from marketing technologyconsulting to implementation&delivery,and maintenance&lifecycle management thereafter.ABOUT MIRUM INDIAResearch administered byFormore information about this report,media enquiry orany otherquery,please reach out to us ?INDIA MARTECHREPORT 2023Powereereered dPoweree e erebyPowered byTo stay updatedFollowon social