Financial firms that invest in marketing technology, or martech, enjoy deeper customer engagement, more leads and conversions, and higher revenue, according to a survey of marketing executives at financial services firms and high-tech enterprises commissioned by consulting firm Capgemini.
The online survey of 305 U.S. and U.K. executives found that the size of a company dictated its marketing priorities. Financial firms with fewer than 5,000 employees prioritized improving their martech capabilities over wining new customers. Larger firms were the opposite, placing a greater premium on winning new customers rather than improving their martech. At the same time, firms of all sizes made improving the customer experience a high-level priority.
Executives at organizations with high martech maturity reported better marketing benefits than those with low maturity, according to Capgemini. High-maturity organizations were more likely to cite deeper customer insights, more robust customer targeting and improved forecasting. They also generated more leads, with 89% of high-maturity organizations reporting a 4% or greater lead increase as a result of their martech, compared to 64% at low-maturity firms. Thirty-nine percent of high-maturity organizations reported a 4% or greater increase in sales revenue, compared to 31% of medium- and 26% of low-maturity organizations.