Combined strategy and marketing software tools, commonly known as MarTech, are penetrating the architectural, engineering, and construction industries.
ChiefMarTech reports that there are nearly 7,000 MarTech tools on the market, up from only 1,000 five years ago. They are impacting many companies that are experiencing a difficult time selecting the right technologies, keeping up with changes, and using the tools effectively. Design firms and construction companies of all sizes are investing in MarTech to improve their marketing strategies and drive more sales, but recent research from The Society for Marketing Professional Services (SMPS) Foundation shows design firms and construction companies aren’t yet applying these solutions to their fullest potential.
The SMPS report, "Powering Up Technology: A Spotlight on Martech" looks at how MarTech tools help design firms and construction companies by allowing deeper understanding and engagement and supports communication with clients and their target audiences. The data also shows that design firms and construction companies aren’t yet applying MarTech solutions—such as social platforms, client relationship management applications, and content management systems — to their fullest potential. The findings and analysis are based on a survey of 500 SMPS members conducted by the SMPS Foundation in conjunction with the Southern Illinois University Edwardsville.
80% Of respondents believe the current MarTech strategy at their firm is average or unsuccessful, expressing the belief that there is significant room for growth in this area.
"[Design firms and construction] companies are beginning to harness these powerful systems and advanced platforms to execute and analyze modern marketing campaigns,” said Michael Geary, CAE, chief executive officer of SMPS and the SMPS Foundation. “While marketers recognize the importance of this technology, their organizations struggle with how to implement these technologies and associated MarTech initiatives.”
SMPS plans to use the findings of this report to craft learning opportunities for design firms and construction companies, and the SMPS Foundation will conduct a follow-up survey in 2020 to measure progress.
The report addresses a variety of topics, including:
- Awareness of MarTech tools
- Barriers to MarTech usage
- Drivers behind MarTech adoption
- Delivery of MarTech metrics and reporting
- Integration of MarTech-specific marketing roles and consultants
The report first appeared in the August 2019 issue of Marketer, the journal published by SMPS.
Amy Collins is a fellow at SMPS and the facilities business line marketing manager at Gannett Fleming.