More than half of the marketing technology utilized by small and medium-sized businesses (SMBs) is redundant, in accordance with a recent survey.
This redundancy is dear and inefficient. SMBs spend roughly $43,500 annually on martech it seldom uses, in accordance with the report by Capterra, a web-based marketplace for business technology. Some 39% of marketers in these firms say they spend more time on tasks because of martech, which performs equivalent or overlapping functions.
Why we care. Having loads of unused martech means nobody truly minds the stack. In addition to wasting time and money, interactions between programs can degrade performance. Furthermore, this may indicate an absence of focus and discipline in marketing overall. Are too many individuals using too many tools to pursue too many goals?
The problems this causes:
- 46% of marketers say they’re spending an excessive amount of time learning recent technology
- 41% say time spent switching between applications adds to inefficiency
- 40% say that having so many unused features is causing workflow confusion
- 35% say they’ve problems accessing programs because of credentials or users levels
Dig deeper: My stack is larger than your stack, so what?
ROI risk without returns. Nearly two-thirds (63%) of marketers surveyed say this redundant tech either has no impact and even has decreased their company’s technology ROI.
What’s causing it? The most typical reason (51%) for all this redundancy is to support worker preferences. Other reasons: staying progressive (47%), being flexible in how they work (44%) and maintaining with competitors (39%).
Easy so as to add. Only 34% of SMB marketers say their company actively limits non-IT employees’ ability to adopt recent software without approval. Also, 45% say any worker at their company can request their IT department so as to add recent apps.
Hard to subtract. First, the excellent news: 84% say their firms conduct regular software audits. However, this doesn’t make getting rid of unwanted software any easier. Exactly half say they have to seek the advice of with other business units to get rid of software that isn’t any longer useful. Thirty-nine percent must even have internal stakeholders agree on whether an app ought to be retired.
Even when everyone agrees, 66% say it takes 4 months to a yr to completely remove an application. Worse, only 26% say their company formally cancels service and/or payments with the software provider.
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