Digivizer earns Judges’ Pick for “particularly promising, impressive innovation” in TMW 100 Awards
Digivizer has been shortlisted for the global TMW 100 Awards for martech innovation.
Digivizer has also earned one of a select number of Judges’ Picks for “a high calibre of excellence and unique innovation” and “particularly promising and impressive innovation”.
The Awards are a combination of Judges’ Pick and people’s choice. To vote for Digivizer for the TMW Awards before the closing date of 29 September 2023, go to the TMW 100 Awards judging site.
This is huge validation for the Digivizer team and technology, used by marketers and business owners as their single source of truth of digital marketing insights. The result is time saved, better decisions made faster, and better marketing ROI.
Martech: too complex, too expensive
Digivizer has long championed that most martech solutions are too complex (and too expensive) for the majority of organizations to consider.
Gartner recently suggested that if an organization with $250 million in revenue only uses 33% of its total martech stack, allocates 9% of its revenue on marketing, and 25% of that marketing budget on technology, the organization could waste nearly $4 million in underused technology spend.
That’s a very large waste of marketing budget, opex and profit. The implication from Gartner was that this was a conservative estimate, and common.
Mi-3 recently reported that multinational construction and real-estate company Lendlease has reduced its martech costs by 78% through consolidation and rationalization.
And martech advocate Scott Brinker, VP Platform Ecosystem at HubSpot and editor at chiefmartec.com, publishes an annual martech map that, in 2023, has over 11,000 companies listed. This partly reflects the buoyant and dynamic nature of the segment, with new companies replacing old ones, but he also questions the complexity faced by users.
Size does not matter: complexity is just complexity
These observations tend to focus on large organizations and corporations. In truth, large companies have budgets and internal expertise that at least allows them the option to consider, buy and implement large-scale martech stacks.
But the examples above suggest an increasing internal push-back from CFOs and CEOs, something Digivizer sees with a number of organizations it works with.
The challenge gets worse for smaller organizations.
Their marketing needs are no less important, but their marketing dollars are often considerably more precious. Their budgets are smaller than their enterprise peers and competitors.
They need a simpler, more accountable and more accessible martech stack to allow them to grow.
If these solutions exist, as Digivizer has shown, they can then also be the answer to larger enterprises.
And martech should be no different to other company operations: skills need to match the needs of the company, and so should the technology solutions.
If accountable, accessible martech solutions can be made easy and fast to deploy, anyone can use them, and their affordability means they deliver value immediately.
At both ends of this continuum the opportunity remains the same: dial down the martech complexity, and dial up the insights.
That means a focus on real-time insights normalized across multiple channels in a solution priced to make it accessible to everyone – across different organizations but also within organizations.
As things stand, businesses need to convince boards to spend multiple thousands of dollars over a contracted minimum number of years. At best, this delays getting the insights visible to all those who need them. At worst, it’s a poor investment that will deliver poor returns.
And as Digivizer CEO Emma Lo Russo recently pointed out, many stakeholders remain frustrated at the lack of information made available to them by the marketing teams. Part of the reason can be attached to the complexity and sheer effort needed simply to get the data required to understand the business insights needed to make better decisions.
Data-led organizations are those in which data works best because it’s available to all, with clear rules of engagement, clear lines of responsibility, a clear understanding of accountability, and a cultural backdrop that says, “we lead with data, and are led by data”.
That’s a definition of the benefits of insights over complexity.
That’s where martech needs to focus.