Consumer durables and automobile emerge as top categories to use martech tools: Report

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October 29, 2021 4:37 PM

MarTech Heroes, the extensive users of martech, are set to increase their spending significantly in the next three years

Overall, 88% of the respondents say that their organisations are getting ROI on martech investment

The shift in consumer behaviour due to the global pandemic has accelerated the growth of martech in India. Keeping pace with changes in consumer expectations and behaviours, marketers are also deploying new tools, chalking out new strategies. While majority of the industries are using martech, consumer durables and automobile are the top two industries to use such tools, according to ‘The Mirum India MarTech Report 2021’. The other top verticals using martech tools are BFSI, retail, media and technology.

More than 250 CEOs, and CMOs within industry verticals like BFSI, retail, FMCG, auto, media and technology were surveyed by Kantar to derive the final insights for the report. 64% of the organisations are extensively using martech tools and 30% use the tools sometimes.

“In this digital-first world, as customers cling to their pandemic-prompted digital habits, the nature of customer engagement continues to evolve, making well-rounded marketers technologists. Leveraging technology, marketers have effectively been able to hyper-personalise engagement, improve data quality, automate process building trusted relationships,” Arundhati Bhattacharya, chairperson and CEO, Salesforce India said.

The report has identified two cohorts of organisations – ‘MarTech Heroes’ and ‘MarTech Stagnants’. As per the report, MarTech Heroes, the extensive users of martech, are set to increase their spending significantly in the next three years. On the other hand, the other cohort will increase the spends to some extent. 53% Of the organisations have emerged as Martech Heroes in the survey and 17% as MarTech Stagnants.

For 50% MarTech Heroes, creativity is the driving force of their marketing strategy. However, only 22% MarTech Stagnants agree to this viewpoint. 76% MarTech Heroes prefer to choose marketing technology which is part of an ‘Integrated Suite’ rather than a ‘Point Solution’. They also focus on real-time personalisation for several objectives including increased visitor engagement, customer experience, conversion rates, customer acquisition, among others.

“Our clients are increasingly looking at us to help shape their MarTech strategies. Our end-to-end capabilities spanning strategy, media, technology, creative and data put us in a unique position of being able to deliver on this ask. We have brought together the best of WPP led by Mirum along with Kantar and collaborated with Salesforce to create this rich source of insights,” CVL Srinivas, country manager, WPP, said.

Overall, 88% of the respondents say that their organisations are getting ROI on martech investments. 73% MarTech Heroes and 41% MarTech Stagnants agree that investment in martech is leading to expected ROIs.

According to Hareesh Tibrewala, joint CEO, Mirum India, marketers are being bullish on using marketing technology for their brands considering the changing marketing dynamics in a data-driven era. With the adoption and acceleration of digitisation, marketing, and technology, MarTech has become quite a preferred tool across mediums, Tibrewala said.

“We are foreseeing that MarTech investments will see a rise in marketing analytics, performance and attribution, CDP, and e-commerce sectors. Around 82% and 68% of the respondents from the FMCG industry believe that Sales and CRM respectively count as the top business objectives they wish to achieve using MarTech in the coming three years. With MarTech being a business-led priority for marketers, we are certain that it will be the next big thing,” Tibrewala added further.

Read Also: Havas Media Group India wins integrated media mandate for Just Dial

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