Digital transformation is no longer an option for legacy brands—it’s a necessity. As the Chief Product & Technology Officer at Eureka Forbes, I’ve seen firsthand how critical it is to embrace the right technologies to stay relevant. The global Martech (Marketing Technology) landscape has exploded, with over 9500 Martech tools available worldwide, reflecting the rapid digital shift in marketing strategies. For Eureka Forbes, this transformation isn’t just about adopting new technology but about a comprehensive shift in how we operate, putting the customer at the center of our strategy. The 26.6% of marketing budgets now allocated to MarTech globally speaks to the scale of this change. As we continue on this journey, we are focusing on ensuring that both technology and organizational culture evolve in tandem.
Understanding the True Challenges of Digital Transformation
At Eureka Forbes, we’re navigating a complex digital transformation—one that goes beyond implementing new technologies. The biggest challenge I’ve faced isn’t the tech itself, but ensuring the organization adapts to these changes. Brands can often falter by focusing solely on technology without addressing the human element. With the number of MarTech solutions growing from 150 in 2011 to over 11,000 in 2023—a 7000%+ increase—adopting the right tools is essential. But it’s just as critical to ensure that the workforce is aligned and fully trained to maximize these tools’ potential.
This is why our digital transformation at Eureka Forbes includes a robust change management strategy. Companies that adopt a data-centered marketing approach often see a 15–20% higher return on investment. Our approach combines technology with a strong focus on people, ensuring that the cultural shift happens alongside technological advancements.
The Role of MarTech in Our Digital Evolution
MarTech has become the backbone of our strategy at Eureka Forbes. With the global MarTech industry now valued at over $344.5 billion USD, it’s clear that this technology is crucial for brands that want to lead, not just compete. At Eureka Forbes, we’re using MarTech to build deeper, more personalized relationships with our customers by harnessing data-driven insights. We’ve moved away from mass-market strategies to focus on hyper-personalization. Whether it’s through a marketing email or a call from our sales team, we use the insights gathered from MarTech platforms to ensure every interaction feels relevant and personal.
One of the most significant initiatives we’ve undertaken is leveraging MarTech tools to integrate customer data across all touchpoints. 68% of CMOs agree that MarTech is critical to meeting customer expectations, and we’ve seen firsthand how personalized customer experiences can drive both engagement and satisfaction.
Challenges and Opportunities in Upgrading Our MarTech Stack
One of the biggest challenges we face as a legacy brand is the balance between old systems and new technology. At Eureka Forbes, we’ve spent decades building a treasure trove of historical data, but managing the transition to modern technology is a complex process. Upgrading our CRM systems, for example, meant not just adopting new technology but training our teams to use these tools effectively. This echoes a broader industry trend: 80% of companies believe that MarTech gives them an edge over their competitors, but the success of any platform depends on how well it’s integrated and utilized.
The opportunities are just as significant. By analyzing customer data in real-time, we can respond faster to changing customer preferences, leading to more timely and relevant campaigns. It’s no wonder that companies leveraging a data-centered approach see up to a 20% higher ROI. Automation is also helping us scale our efforts efficiently, allowing our team to focus on strategic initiatives without sacrificing the personal touch our customers expect.
The Future of Customer Experience: A MarTech-Driven Strategy
Looking ahead, our focus remains firmly on the customer. Today’s consumers expect more personalized and seamless interactions across all channels, and MarTech enables us to meet these expectations. At Eureka Forbes, we’re working to build a single customer view, pulling together data from both online and offline interactions. This 360-degree view of our customers allows us to understand their preferences, behaviors, and pain points in a way that would have been impossible with traditional methods.
With MarTech solutions evolving at breakneck speed, brands like ours need to stay ahead of the curve. The global MarTech ecosystem is rapidly growing, and the share of marketing budgets allocated to MarTech now stands at 26.6% worldwide. We believe that continuing to invest in these technologies will not only enhance the customer experience but also strengthen our brand’s position as a leader in the health tech and home solutions space.
Why Legacy Brands Must Embrace MarTech for Long-Term Growth
The digital world is evolving rapidly, and legacy brands must adapt to stay relevant. Embracing MarTech is no longer optional—it’s a strategic necessity. With 68% of CMOs expecting their MarTech spending to increase in the near future, brands that fail to invest in these technologies risk being left behind. At Eureka Forbes, we’re committed to staying ahead of the curve by focusing on both technology and the cultural shifts required for successful digital transformation.
By embracing MarTech, we’ve been able to not only improve our customer experience but also position ourselves for future growth. The journey is challenging, but the rewards—improved customer engagement, data-driven insights, and a strong competitive edge—are well worth the effort.
To know more…
To dive deeper into how Eureka Forbes is leveraging MarTech to drive growth and customer engagement, listen to the full episode of “Transforming a Legacy Brand.” Gain insights into the strategies we’re using to stay ahead in a rapidly changing market. Click the link to access the podcast, available on YouTube and Spotify.
About the Author
Shubham Srivastava, the Chief Product & Technology Officer at Eureka Forbes, is a technology leader passionate about building high-growth businesses. With a background in consumer tech and media, Shubham brings extensive industry experience to his role. His current focus is on developing India’s next-generation health tech platform, leveraging technology to drive growth, enhance brand equity, and deliver exceptional customer experiences.
