Marketers moving away from home-grown tools, hiring fresh teams for new martech

About 83% of marketers have upgraded or replaced at least one martech application in the past year, we found out in our Martech Replacement Survey.

The post Marketers moving away from home-grown tools, hiring fresh teams for new martech appeared first on Marketing Land.

As the marketing technology landscape and capabilities continue to evolve, organizations are on an ongoing quest to update and improve their technology stacks. In fact, the vast majority (83%) upgraded at least one martech application in the past year, according to our MarTech Replacement Survey 2020 published Monday.

To better understand the frequency and motivations behind organizational martech updates, we surveyed 398 digital marketers in October. Several interesting trends emerged.

Organizations are moving away from in-house solutions. In a striking find, many companies are migrating away from marketing technologies developed in-house. Respondents were nearly as likely to have upgraded or replaced a homegrown technology (49%) as a commercially available solution (51%), with many of those replacing homegrown tech moving to commercial applications.

The number one reason marketers said they shifted from in-house technology was that available SaaS software had better features, with 49% of those who switched to a commercial solution citing that as a reason.

This image has an empty alt attribute; its file name is MarTech-Survey-Upgrade-2-800x422.png

Nearly one in four said their homegrown system was being replaced because management decided their enterprise was “not a software company,” and nearly one in five because their homegrown system was too expensive to maintain.

New martech adds new people. Fear of job losses caused by machine learning and AI-based technologies may be unfounded — at least when it comes to the need for human oversight and management of marketing technologies.

With new martech features designed to increase efficiencies, a surprising 43% of respondents indicated that they hired a new team to support their new tools. One in four said they combined retraining existing staff with news hires, while another 25% said they retrained exclusively.

Martech replacement trends in 2020. The findings of this report hint at several trends we expect to see in the coming year. Organizations will continue to focus on maximizing the return on their marketing technology investments — whether through ongoing upgrades and new hires or retraining. Rather than a threat, new technologies present opportunities for marketers who keep their skills relevant and transferrable as technologies evolve and change.

As SaaS products improve — and natively support integrations with other solutions — it’s becoming harder to justify developing or maintaining homegrown applications. We can expect to see more acquisitions by martech vendors as well as integrations as providers aim to give marketing teams more comprehensive, one-stop-shop solutions.

To read more findings, insights and key takeaways for marketers, click here to download The MarTech 2020 Replacement Survey.

The post Marketers moving away from home-grown tools, hiring fresh teams for new martech appeared first on Marketing Land.

Does Your A/B Test Pass the Sample Ratio Mismatch Check?

Most, if not all successful online businesses nowadays rely on one or more systems for conducting A/B tests in order to inform business decisions ranging from simple website or advertising campaign interventions to complex product and business model ch…

Most, if not all successful online businesses nowadays rely on one or more systems for conducting A/B tests in order to inform business decisions ranging from simple website or advertising campaign interventions to complex product and business model changes. While testing might have become a prerequisite for releasing the tiniest of changes, one type of […] Read More...

Statistical Methods in Online A/B Testing – the book

The long wait is finally over! “Statistical Methods in Online A/B Testing” can now be found as a paperback and an e-book on your preferred Amazon store. Note that the Kindle edition is available for $2.99 or equivalent if you’ve alrea…

The long wait is finally over! “Statistical Methods in Online A/B Testing” can now be found as a paperback and an e-book on your preferred Amazon store. Note that the Kindle edition is available for $2.99 or equivalent if you’ve already purchased the paperback (through Kindle Matchbook). The book is a comprehensive guide to statistics […] Read More...

A/B Testing with a Small Sample Size

The question “How to test if my website has a small number of users” comes up frequently when I chat to people about statistics in A/B testing, online and offline alike. There are different opinions on the topic ranging from altering the si…

The question “How to test if my website has a small number of users” comes up frequently when I chat to people about statistics in A/B testing, online and offline alike. There are different opinions on the topic ranging from altering the significance threshold, statistical power or the minimum effect of interest all the way […] Read More...

Online glossary of A/B testing terms and abbreviations

We are happy to present a brand new addition to our website: a comprehensive A/B testing glossary containing terms and abbreviations used testing as part of conversion rate optimization (CRO).  Definitions start from very basic things such as “A/…

We are happy to present a brand new addition to our website: a comprehensive A/B testing glossary containing terms and abbreviations used testing as part of conversion rate optimization (CRO).  Definitions start from very basic things such as “A/B test“, “mean“, “conversion rate” and “revenue per user“, go through “hypothesis“, “null hypothesis“, “standard deviation“, “p-value” […] Read More...

The A/B Testing Guide to Surviving on a Deserted Island

The secluded and isolated deserted island setting has been used as the stage for many hypothetical explanations in economics and philosophy with the scarcity of things that can be developed as resources being a central feature. Scarcity and the need to…

The secluded and isolated deserted island setting has been used as the stage for many hypothetical explanations in economics and philosophy with the scarcity of things that can be developed as resources being a central feature. Scarcity and the need to keep risk low while aiming to improve one’s situation is what make it a […] Read More...

Designing successful A/B tests in Email Marketing

The process of A/B testing (a.k.a. online controlled experiments) is well-established in conversion rate optimization for all kinds of online properties and is widely used by e-commerce websites. On this blog I have already written in depth about the s…

The process of A/B testing (a.k.a. online controlled experiments) is well-established in conversion rate optimization for all kinds of online properties and is widely used by e-commerce websites. On this blog I have already written in depth about the statistics involved as well as the ROI calculations in terms of balancing risk and reward for […] Read More...

Confidence Intervals & P-values for Percent Change / Relative Difference

In many controlled experiments, including online controlled experiments (a.k.a. A/B tests) the result of interest and hence the inference made is about the relative difference between the control and treatment group. In A/B testing as part of conversio…

In many controlled experiments, including online controlled experiments (a.k.a. A/B tests) the result of interest and hence the inference made is about the relative difference between the control and treatment group. In A/B testing as part of conversion rate optimization and in marketing experiments in general we use the term “percent lift” (“percentage lift”) while in […] Read More...

The Google Optimize Statistical Engine and Approach

Google Optimize is the latest attempt from Google to deliver an A/B testing product. Previously we had “Google Website Optimizer”, then we had “Content Experiments” within Google Analytics, and now we have the latest iteration: …

Google Optimize is the latest attempt from Google to deliver an A/B testing product. Previously we had “Google Website Optimizer”, then we had “Content Experiments” within Google Analytics, and now we have the latest iteration: Google Optimize. While working on the integration of our A/B Testing Calculator with Google Optimize I was curious to see […] Read More...

20-80% Faster A/B Tests? Is it real?

I got a question today about our AGILE A/B testing calculator and the statistics behind it and realized that I’m yet to write a dedicated post explaining the efficiency gains from using the method in more detail. This despite the fact that these …

I got a question today about our AGILE A/B testing calculator and the statistics behind it and realized that I’m yet to write a dedicated post explaining the efficiency gains from using the method in more detail. This despite the fact that these speed gains are clearly communicated and verified through simulation results presented in our AGILE […] Read More...