Marketing Technology Stack Investment Skyrockets
Any CMO who isn’t making a marketing technology stack investment now is already behind competitors. Most marketing spend on tools is increasing this year by double digits over an already impressive 2017. It shows the tech stack is constantly on the minds of CMOs these days, as they work to build it out as soon as possible, according to research Target Marketing released on Wednesday.
Digital marketing strategy topped the list of the most urgent marketing spend this year, finds “2018 Marketing Technology Stack Investment Trends.” Among the surveyed marketers, 68% plan to buy the most popular martech in their annual marketing budget — social media tools.
But the biggest takeaway from the research is just how much the investment is growing, as well as how quickly marketers are buying in 2018. It’s as if marketers are much like Harry Burns from "When Harry Met Sally." They've done their marketing tech stack research, they’ve made up their minds and now they’re running to buy the tools — because now that they know what they want their futures to be in marketing technology, they want their futures to start today.
Marketing Technology Stack Investment Is Digital and Its Future Is Now
The Target Marketing research shows more than half of marketers plan to purchase the top four tools listed here within three months of completing the survey, and all four of them are aimed at digital marketing strategy:
“The nuts and bolts of marketing in 2018 revolve around social media; web analytics/web design/web optimization; email; content marketing; SEM/SEO; video; database marketing/personalization; direct mail; and CRM marketing tech for more than half of marketers. It’s how they interact with customers, how they get their businesses found and how they find customers again.”
What that may mean is last year, the marketers buying these tools were prescient in their digital marketing strategy. This year, the marketing technology landscape shows these tools are table stakes.
For instance, the study quotes one marketer whose firm is buying all of the digital marketing tools listed above and within three months of commenting, with the exception of CRM. Chances are, his company already had CRM in its tech stack. Direct mail tech is also in his near future because:
“It is no longer a need, rather a must, to invest in these areas in order to stay on top of — and be successful in — this rapidly changing industry,” wrote a travel and hospitality marketer whose firm will buy 10 types of marketing tech this year. His company will acquire eight of those 10 within three months of taking the survey.
Getting ahead of the competition now means CMOs have to look into bleeding-edge tech that harnesses data — and the richer marketers are doing so.
In other words, for the marketers who’ve been waiting to fill out their tech stacks, the future is now. And Harry Burns is already lapping you.
What do you think, marketers?
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Related story: 2018 Marketing Technology Stack Investment Trends