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Scott says
"Martech utilization sucks. At least that’s the conclusion one draws from Gartner’s latest 2023 Marketing Technology Survey".
As Gartner say
"Martech Utilization Declines from 42% in 2022 to 33% in 2023
A Gartner survey of 405 marketing leaders conducted in May and June 2023 revealed the utilization of their organization's overall martech stack’s capability dropped to just 33% on average in 2023, marking a second consecutive year of decline (42% in 2022 and 58% in 2020)."
As Scott says
"For hundreds of marketing technology leaders in Gartner’s survey to report that they’re only utilizing 1/3 of their martech stack’s capabilities — even if that’s just their gut feel — is a pretty disturbing signal. If it were a Likert scale of 1-10, like NPS, it would be a very unhappy “3”. Major detractor."
I wrote this article about Martech and here is a quote, article
"Thank you Covid-19, we just broke the record for poor performance. According to Hubspot, the response rate to emails fell to a record low of 2.1% in April. Said differently, 98% of our efforts to reach new prospects failed.
With conversion down, what did we do? You guessed it, we increased the number of emails sent during the same period by 50%, according to Hubspot’s survey of 70,000 customers. We are playing a zero-sum game, and it’s literally a race to the bottom."
And when a company like Hubspot, who sell email marketing software that things are bad.
What we know about email marketing
We know that a person's inbox is a pretty busy place, when i was in corporate I got on average 120 emails a day. When suppliers tried to push their emails into that, it was annoying and they just got deleted. Which is why there is a $multi-billion industry created on trying to create email titles that i will react to. Or at least open the email. Then that is classed as an "open". The fact you had to use manipulation to get me to open the email and that annoyed me and I deleted your email, will never get reported.
An email marketing company that cannot sell with email marketing
Can you believe that we have sold social selling to an email marketing company. Why? Because they admit they cannot generate leads through email marketing.
Pretty damning!
Related: Social Media Has Overtaken Word of Mouth for Introducing People to New Products and Services