GetApp, a recommendation engine that helps entrepreneurs make informed software purchasing decisions, released findings from its latest survey of startups. The marketing technology study reveals that 68 percent of startups use marketing technology tools, but only 59 percent of them have a plan for how to use them. This poses a significant business challenge as entrepreneurs without a marketing technology plan are four times more likely to say their marketing technology does not meet their business needs.
“Martech tools improve engagement, targeting, and campaigns—but can be overwhelming,” said Zach Capers, Senior Specialist Analyst at GetApp and the survey’s lead analyst. “Problems with overall complexity could result from a lack of training or expertise, and companies without sufficient planning are generally less satisfied with their technology—possibly because they end up with tools that are too complex or have too many features.”
Key findings of the Startup Martech Adoption Report include:
- Despite economic shock waves from a global pandemic, 63 percent of startups increased spending on marketing technology during the past 12 months.
- Sixty-five percent of startups that devote more than a quarter of their marketing budget to marketing technology say their stack meets business objectives, while only 46 percent of those spending a quarter or less said the same.
- Respondents say that investing in marketing technology allows them to improve customer engagement, target audiences precisely, and create effective campaigns. The top two challenges were too many unused features (35 percent) and too many overlapping features (30 percent).
Martech adoption is on the rise as startups and business leaders understand the importance of increasing operational efficiencies across their organizations—and recognize the value of Martech software in meeting crucial business goals. Based on the survey, startups with a plan for technology use will see the biggest impact for their investment.
GetApp’s 2021 Marketing Technology Survey was conducted February 18-25, 2021 among 238 respondents to learn more about the use of marketing technology tools by startups. Respondents were screened for leadership positions at startups in healthcare, IT services, marketing/CRM, retail/eCommerce, software/web development, or AI/ML.
GetApp is the recommendation engine small and midsize businesses (SMBs) need to make the right software choice. GetApp enables SMBs to achieve their mission by delivering the tailored, data-driven recommendations and insights needed to make informed software purchasing decisions. GetApp is a Gartner company. For more information, visit www.getapp.com.
Courtney Palms, GetApp, a Gartner Company