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Martech 2024
For the seventh year in a row, we invite you to explore the current challenges, barriers, and opportunities within the Martech field.
About the report
In the Martech Report 2024, we explore the state of Marketing Techonolgy in Sweden and Europe, focusing on skills, processes, technology, and data. The report reveals how companies are adapting to the complex Martech landscape to maximize their investments and highlights emerging trends and challenges.
This year, there is a clear shift towards prioritizing technology investments, while the focus on skills has decreased. "Company directives" are also becoming more influential.
AI is driving much of the rapid change in Martech, with many companies confident that it will significantly impact their work. Despite this progress, some are concerned that the pace of change is too fast.
While AI is accelerating development, many companies remain cautious. Last year’s uncertainty about AI’s value has lessened, but companies are still waiting for further advancements before fully integrating AI into their operations.
Thank you, generative AI for your help in creating this report. We also want to extend a big thank you to Cint for providing the panel and to Added Digital for designing the report!
Go to casesMain report insights
Access to new technology remains and increases its role as a key growth driver of Martech investments
This year, technology has become the main focus for Martech investments, with over 50% of respondents prioritizing it. Access to new technologies is now the top reason for investing, surpassing other factors. The growing emphasis on technology, driven by AI, is shifting attention away from other dimensions like people and processes.
Is the technology dimension stealing all the spotlight? What happened to the softer dimensions of Martech?
Technology is now the top priority in Martech investments, with over 50% of respondents focusing on it this year. The importance of the people dimension has declined, while data and processes remain unchanged. Despite some progress in Martech competence and processes, many companies still lack the necessary skills and struggle with integration and cooperation, suggesting that technology might be overshadowing other crucial aspects.
AI & tech as the main drivers for the significantly increasing development pace
Martech development has rapidly advanced, with companies rating their maturity as high rising from 29% to 46% this year. The adoption of AI has increased significantly, now involving 30% of companies. Despite this, 34% of respondents feel the pace is too fast, with a notable impact expected from AI on Martech practices.
Top Management vs. All the Others
Top executives view their company’s Martech maturity and engagement more positively than the rest of the organization, believing their integration and expertise are strong. In contrast, middle and first-level managers see more challenges and less effective implementation. This gap between executive optimism and operational reality may affect the overall effectiveness and alignment of Martech strategies.
Development areas since last year:
Austria, the UK, and Finland have made significant strides in Martech maturity, with Austria's and Finland's high maturity rates rising substantially. Germany's improvements were more modest, indicating a focus on refining existing systems. Most countries are enhancing Martech processes and adapting to digital demands, with Austria and Denmark making notable gains in Martech competence. Overall, there is a trend of increased technical preparedness and future investments in Martech.
The Martech Journey on the Swedish Market 2017-2024
Since 2017, Sweden's Martech landscape has shifted from adopting new technologies to enhancing processes and skills. By 2023, the focus has been on addressing competence gaps and improving data management, with AI driving significant advancements. Challenges remain around skills and budget, but overall Martech maturity is rapidly increasing.
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The Martech definition
Any professionals involved in marketing, CRM and sales today are working with some type of marketing technology. In order to put Martech in the right context, we have defined Martech as:
Business strategies combined with technology in order to be more customer-focused. This combination includes several dimensions, such as people, process, technology & data. This means that Martech as such includes much more than only the technology itself.
The most famous definition of Martech
A Martech stack is a number of different technologies from a number of different companies that are meant to attract and retain customers in the most efficient way possible. Scott Brinker, editor ChiefMartec.com
- People
- Process
- Technology
- Data
Interested in the industry cases?
Go to casesPartners behind the report
Odyssey helps businesses to continuously gain insights to increase the strength of their brands and their brand building communication. Through data-driven and predictive insights in Odysseys platform and products, customers can follow their brands development and understand the effects of strategic brand decisions and communication.
Wiraya helps companies activate and engage their customers at critical moments of the customer lifecycle. Moments that if done right, can make or break customer experience. Wiraya combines pre-recorded voice calls, sms and digital landing pages to inspire action from your customers.
Whenever you need your customers to do something, know something, update something, start something, stop something, change something or buy something, it’s guaranteed to improve the metrics that matter to your business.
Wiraya uses the power of voice to cut through the noise and most importantly, customers appreciate the communication as it simplifies their lives.
SWEDMA - Swedish Data & Marketing Association
SWEDMA represents the industry and the association of the companies and organizations that work with direct and data-driven marketing. We organize both buyers and sellers of data-driven products and services. In this way, we have a unique insight into which requirements and conditions apply to dm between companies as well as business to consumer.
The direct and data-driven marketing has time and time again the concrete results that communication and advertising buyers have the right to expect. Our members will show you the more than happy path to strategic, creative and results-oriented marketing.
Contribution/Credits
A special thanks to the web agency Added and to Cint, the panel partner for the survey!
Cint is a global provider of research technology. The Cint platform enables brands, researchers, academics, or anyone with a question, to connect with a global network of over 239 million high-quality and engaged respondents. Panel providers, mobile gaming apps, loyalty associations, or anyone with an online community, partner with Cint to monetise their user base through surveys that complement the user experience. Utilizing the global reach and survey-based approach of the platform, Cint’s media measurement solutions help advertisers, publishers and media agencies measure the impact of cross-platform ad campaigns.
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Added is your digital agency in Stockholm that wants to make sure your online presence is felt. Using our expertise in design, development and SEO we offer new perspectives to digital growth and deliver innovative websites, systems and digital handcraft built for optimizing business value and fostering positive user experiences.
