According to a study by Mirum, 64 per cent of marketers believe a lack of internal skills is the major hurdle for MarTech growth in the country.
The report which unveiled trends in the marketing technology space in the country was released by Mark Read, CEO, WPP. It included inputs from over 500 Indian marketers.
Read said, “India is an exciting market for brands and marketers, especially with government initiatives like 'Digital India'. There is huge scope for marketers to reach and engage with the audience via integrated marketing tools. Effective MarTech innovation enables brands to assimilate numerous touchpoints and data-driven solutions, enabling intelligent decision making and process automation. With increasing consumer demands, MarTech is the key to sustained consumer relationships and ROI.”
Hareesh Tibrewala, joint CEO, Mirum added, “MarTech is significantly transforming India’s marketing landscape. It is generating curiosity and empowering marketers to create engaging campaigns for brand communication and consumer engagement. As part of this dynamic environment, we believe that MarTech, complimentary technological innovations and support from data and analytics have improved marketing strategies and results. The report has significantly mapped the present and projected the future. We hope that the insights will benefit the industry and decision makers to build robust strategies for optimal consumer engagement.”
Other findings of the report included:
• Customer engagement and personalisation of experiences are key drivers for MarTech spends.
• 87 per cent of marketers believe it takes at least three years to demonstrate ROI in MarTech.
• 59 per cent cited cross-organisation adoption as a hurdle to MarTech growth.
• Data and analytics skills will become a major hiring criterion for marketers.
• 70 per cent of marketers say confluence of creativity and technology will be the key to crafting successful digital campaigns across sectors.