Introducing overlap tool to compare marketing software side-by-side
B2B SaaS apps and platform usage has exploded in the last decade. And it's not slowing down. Industry research from the Blissfully Annual SaaS Trend Report where data from 1 000 companies (small, mid-size, enterprise) is analyzed every year. The most important findings were:
- Overall spend per company on SaaS products is up +50%, and the number of unique apps per company is up aprx. +30% year over year.
- Companies are churning through more than 30% of their apps every year.
- SaaS waste is doubling year-over-year.
We can look at the results of this data in several ways.
1. Buying software on a rolling basis (monthly or annual) is a fast growing trend and choice among (marketing) software buyers.
2. However, companies seems to be unhappy or not satisfied with the apps they bought since almost 1/3 of the apps are churned and removed every year. This is in line with what we have seen at Stackbeam with quarterly, or even monthly, revisions of the technology stack. Another take on it is that companies pivot their tactics and strategy continuously and these new directions need new technology apps to support or enable this.
3. Yet another way of looking at this is that, B2B SaaS buyers are finding it hard to buy the right tool for them so waste and churn is increasing because they bought the wrong tool. How can this be when the number of online review sites have grown as well and many prospective buyers go to these sites to see users giving reviews and feedback on pieces of software they are using. Could it bee that these online review sites aren't that insightful in the end?
Introducing our newest feature - the Overlap Tool.
Are you in charge of selecting the next marketing tool? Worrying you are paying for marketing tools that are doing the same this as other tools you pay for? Or are you prospecting for new marketing software and want to understand if the differences between tools? Researching new tools for your marketing tech stack is a cumbersome task that takes time. A lot of time.
Then we have something new for you.
Similar to when you're buying a new TV set the terminology and acronyms change every year but in the back of your head it kind of feels that this "new" tool could potentially be doing the same thing as the old one. In marketing it's pretty much the same thing with buzzwords flying around and different vendors naming things slightly different than their competitors to get an edge.
- Retargeting or Remarketing? Same thing.
- Realtime or Near Realtime? Not the same thing.
- CDP or DMP? Not the same thing.
So we set out to build a tool to help you understand differences, be able to evaluate martech clearly and not invest more money than needed on marketing technology.
Stackbeam's Overlap Tool creates value for you by answering the following needs when you are considering new marketing tools:
- Fast search for the market leading marketing software - our database is only adding the mature market leading technologies with a documented footprint and customer base.
- Easy way to visualize how much different marketing tools actually overlap - you get a score from 0-100% based on how many of the features and use cases the platforms have in common.
- What are the differentiators between different marketing tools? The overlap tool will show you each and every one.
The overlap tool helps you in spotting overlaps between marketing tools so you don't spend more money on the same features. Or shows you which tools to exclude from your search right away.
Compare similar products and see if it's worth investing in a new tool. Or compare completely different tools to see if they fit inside your overall marketing strategy.
How the marketing software scoring works
After selecting a maximum of 4 items in the list, click on "Run overlap analysis" to get a percentage score on how much overlap each tool has with the baseline tool you are comparing with (In the image below we compare all the other tools with Magento, the ecommerce platform).
Getting a 0% overlap means that there are no common features or use cases which happens mostly when the tools compared are used for different purposes or channels.
From 1-100% the correlation between the compared tools get stronger and if there is a 100% overlap then the tools are more or less identical. Meaning you need to question why you are comparing them - are you deliberately trying to replace the current marketing tool? Then a score of 100% is the way to go. But maybe you want to find a new set of features because you need to grow your marketing tool set or expand into new channels. Then if another tool is scoring 100% it's not the right one to go with because you will basically pay for duplications and features you already have today.
Expanding on the results will show you specifically which differentiated features the compared tools have. This enables you to drill down further to understand the bigger picture if that specific marketing tool is the right one or now.
What are you waiting on? Go to app.stackbeam.com and try it out today!