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Martech Spending: 51% Of Marketers Say Their Companies Don’t Invest Enough
Budget concerns, difficulty of implementation are main things holding back U.S. marketers from employing the latest marketing technologies.
In a new survey, more than half of US marketers say their employers aren’t investing enough and are among the last to adopt new marketing technologies.
The data are from Walker Sands State of Marketing Technology 2015, a survey conducted this past June that involved 313 US marketers ranging from CMOs to entry-level employees.
Marketers are split over their employers’ spending on marketing technologies. A slight majority (51 percent) chose “disagree” or “strongly disagree” about the statement, “My company invests the right amount in marketing technology.”
The same number, 51 percent, labeled their employers as “late” or “laggard” when asked how quickly their companies adopt marketing technology. But on a brighter note, 58 percent of respondents agreed with the statement that the marketing technology already in place at their workplaces “is up-to-date and sufficient for helping me do my job more effectively.”
As you’d expect, there are a number of obstacles to martech adoption, with budget topping the list. Sixty-nine percent said money is holding their company back from implementing new marketing technology. Thirty-five percent said the difficulty of implementing new martech solutions is a problem, and 33 percent cited their company’s internal resistance to change as another issue preventing martech adoption.
The survey also attests to the value of word-of-mouth in the martech space. The top source for learning about marketing technology, cited by 30 percent of respondents, is peers and colleagues. And 95 percent said peer recommendations are influential when researching martech solutions.
The full survey results are available from Walker Sands. You’ll need to provide contact information to get the PDF download.