Pitch CMO Summit: Mudit Shekhawat on the '7 Deadly Sins of MarTech'

Mudit Shekhawat, Chief Marketing Officer, Yatra.com delivered a contrarian view on Marketing Technology at the 11th edition of the Pitch CMO Summit held in Mumbai on March 7. 

e4m by exchange4media Staff
Updated: Mar 8, 2019 9:03 AM
Pitch CMO Mudit Shekhawat

Mudit Shekhawat, Chief Marketing Officer, Yatra.com delivered a contrarian view on Marketing Technology at the 11th edition of the Pitch CMO Summit held in Mumbai on March 7. 

Shekhawat addressed the concern of marketers who are overwhelmed by the deluge of data that a martech vendor offers and wonders if this data is at all making sense for the company. There is an increasing pressure on CMOs to attribute every penny that they spend and demonstrate ROI on marketing spends. “In fact, the conversation of ROI and attribution has reached the boardrooms of companies. So let’s try to understand how to address the expectations the boardroom has with us," he said.  

Listing out what martech can do and cannot do, he explained, “Martech is good to automate repetitive tasks that are prone to human errors. On the other hand, martech has not been able to show its true value for tasks like Social Media Monitoring, A/B Testing, etc.

Finally, there are tasks for which martech does a terrible job - complex personalisation, channel attribution, etc.”

Therefore, Shekhawat listed the “Seven Deadly Sins of Marketing Technology” to help CMOs navigate this maze of data and dashboards. 

1. Greed- Where a CMO wants every martech tool available. You need to be careful when choosing your tools as per your core business needs.
2. Gluttony - Dashboard Hell: There is no shortage of data. You need to be careful that you don’t get into a frenzy of measuring everything by creating dashboards for everything. 
3. Lust - I want to make love to that data model: There are great data models available, and it is easy to be enamored by a data scientist, but as marketers, we are responsible for the consumer. You should never take a data model as an incontrovertible fact, models should be challenged and it is our responsibility as marketers to challenge those models. 
4. Vanity- There are way too many holes in attribution models. 
5. Doubt- Be a little sceptical of all the data, data models etc. 
6. Sloth: Correlation is easy, but it often does not give us real insights. When we use big data, we need to understand these limitations. 
7. Pride- You need to make a very informed decision about why you use martech, and not because you will get invited to speaker sessions

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