New Research: How Companies Buy Marketing Technology
Sponsored by IBM, this study looks at the processes and people involved in the marketing technology purchase cycle, from assessing requirements to vetting technology, making a decision and managing vendors. It also asks what processes marketers found valuable, and how they followed up to determine if the purchase was a success.
Marketing executives today are being challenged to incorporate more technology than ever into their technology stacks, and that means developing processes and skills that the CMO just didn't need before. With this research, you'll be able to benchmark the practices your company uses against others in the industry, and see where you might be able to improve your own processes.
- Brands are buying more marketing technology than ever, and they’re doing it with what appears to be minimal input from other departments.
- 64% of purchases are made by individuals or single teams.
- Fewer than 50% of purchasers conduct formal requirements assessments.
- Marketers prefer to use self-driven, self-empowering paths to purchase than be shepherded through by a vendor.