2. Talent acquisition and retention
When it comes to MarTech, human capital is the single biggest obstacle faced by brands. The right people with the knowledge, experience, and expertise to help build an end-to-end MarTech stack are few and far between – yet the need for this segment of technology-savvy marketer has never been greater. Companies are far more reliant on technology today to drive marketing outcomes, but without the right people to implement those technologies, the full potential of their investments may never be realised.
Due to reasons such as past success, lack of vision, or risk aversion, marketers may suffer from complacency that leads to stagnation. A US-based survey revealed that only 25% of marketers used AI and predictive marketing in their campaigns. In Asia Pacific, many industry leaders too see complacency as one of the biggest hurdles faced by marketers.
According to one survey, over half of marketers think redundancy is among the top barriers to building their MarTech stack. With more than 7,000 MarTech solutions already in the market, and new products and features being launched every day, redundancy within the MarTech stack is inevitable.
5. MarTech integration
Drawing a fit-for-purpose MarTech roadmap is arguably the toughest challenge marketers face. According to a study by Airtable, over 60% of marketers use more than 20 MarTech tools on a regular basis. Yet research by Mulesoft suggests only 28% of those tools are integrated with other tools. That means more tools to manage and an influx of data, resulting in a disjointed customer experience and an inability to attribute marketing spend to results.