Social media marketing tech is a must-have for brands in 2018. Target Marketing found 68% of marketers planned to buy it this year and among them, 62% plan to do so within three months of taking the survey. It shows that social media tools are the anchor technology for CMOs who are building out their tech stacks in earnest.
“2018 Marketing Technology Stack Investment Trends,” released last week, shows that overall, 42% of respondents planned to purchase social media marketing technology within three months of completing the survey. That total of 68% is up 1% from 2017, when marketers were also bulking up their tech stacks.
But now, CMOs are building out their tech stacks as fast as they can, with most tech buying up by double digits from last year. The respondents, the plurality of whom are CEOs, regard social media strategy as the priority.
If they’re not buying what they’ve said is the No. 1 tech within three months, 13% of them are aiming to do so in a three- to six-month timeframe, 6% are budgeting the buy for six to 12 months, and 7% will wait a year.
The plurality of the marketing tech stack buyers completing the survey are in the creative services and agencies (14% of survey-takers); nonprofit [charities, education and associations] (10%) and manufacturing fields (9%).
Regardless of their vertical, marketers are tending to blend their social media marketing skills into their omnichannel strategies — allowing them to reach consumers where they prefer to be contacted. In social media, marketers have the advantage of being able to see consumer sentiment in real-time and message accordingly. So the tech needs to be able to handle that.
In addition, CMOs are employing social media marketing tech in ways that marketers have done in email for a long time — adding personas, segmenting audiences, and using predictive analytics to target consumers with paid and organic messaging about relevant goods and services.
In this way, the boom in social media martech buying makes sense — marketers are using the tools to optimize their content marketing and ad spend.
The Target Marketing research shows marketers are buying all of these tools now, with web analytics/web design/web optimization; email; content marketing; SEM/SEO; video; database marketing/personalization; direct mail; and CRM marketing tech joining social media as the most popular choices.
As Yuval Ben-Itzhak, CEO of Socialbakers, said in an interview with eMarketer in December 2017:
“Marketers are managing multiple brands, there are many social networks to manage and there is a lot of content to generate each day. The work marketers have to do on social media is hard to scale if people are left to understand the data that drives decisions.
“The technology is becoming more algorithmic and diagnostic, especially with artificial intelligence, and [now it’s more] about using the data that really matters to play around with audiences, optimize content, see how people engage and of course, optimize spending.”
What do you think, marketers?
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