My close friends at MarTech.org lately released their most up-to-date Martech Substitute Study 2022, exactly where entrepreneurs shared which apps they’ve replaced more than the past 18 months, what their most important drive was in undertaking so, and what ended up their most significant components in deciding upon the substitution resolution.
Advertising and marketing automation (24%), CRM (23%), Search engine optimization (23%), email promoting (22%), and operate/undertaking management (19%) apps have been the most regularly replaced.
As I highlighted in blue in the chart earlier mentioned, the #1 most typically cited element in picking out their replacement answer was integration abilities/open API — chosen by 56% respondents, up 13% factors from the identical survey in 2021.
It is a major 5 topic of this decade in martech: platforms, networks & marketplaces.
Of study course, this is not to say that the other elements — charge, assist, protection, etcetera. — weren’t vital as well. But the issue that most entrepreneurs agreed on was integration. If it won’t combine with the relaxation of the tech stack, almost everything else is moot. It is the tree that falls in the forest without the need of any person around to hear it.
The 2nd most typical issue was knowledge centralization/info abilities (picked out by 50% of respondents), which is intently tied to integration. Just after all, information is the foundational layer of integrations.
Tied in next also with 50% was “ability to measure ROI” — which is heading to be on the prime of everyone’s minds in our tighter financial state. But to evaluate ROI, you need the information. And to get the information, you require integrations. These three factors are sure with each other by atomic forces.
But what enthusiastic marketers to find out a replacement resolution in the first position?
When seeking to switch a industrial application (the study addresses substitute of homegrown applications independently), the #1 drive was much better features (53%). Of course, this would make feeling. Entrepreneurs search to martech to give them the capabilities important to conduct in frequently shifting and evolving marketplaces. What you can do issues.
Even so, I would have anticipated the #2 drive to be price — seeking an alternate resolution to decrease expenditures. That was the survey outcome in 2021.
But in 2022, much better/simpler integration was the 2nd most popular commitment (24%, up 5% details from 2021) to seek out a alternative app. Effectively, a motivation for far better integration activated 1 out of every 4 martech application replacement assignments.
That’s pretty outstanding.
I have claimed this quite a few instances before to martech item teams: the industry is speaking to you with a wonderful booming voice in the sky, “Treat integration as a first-class aspect!”
Ever more, the martech business — and the SaaS universe additional broadly — have taken this to heart. A new investigation report from Pandium on the State of Integrations and APIs at 400 SaaS Firms reveals that 86% of the Prime 100 SaaS businesses in the environment now have a general public integration market. (73% of them have an in-application market.)
That’s outstanding and a potent testomony to the importance of application ecosystems for significant SaaS firms.
But what is even far more telling is that 31% of seed-stage SaaS startups now feature a public integration marketplace far too. Approximately 1 out 3 SaaS startups — which are primarily strapped for time and resources, forced to make really tough options about what to prioritize — have picked out to prioritize establishing the two integrations and a marketplace to make it straightforward for buyers to learn and use them.
It is heartening to see martech purchasers and sellers agree: integration is critical.
We still have further to go on this journey of martech platforms and ecosystems. But as an market, at least’s we’re all marching in the very same path with a substantially extra seamlessly and powerfully built-in foreseeable future on the horizon ahead.