Technology: Multichannel Marketing and Your Budget
The phrase "multichannel campaigns" is one of the most common in today's marketing vernacular. To a marketer, a multichannel campaign also means dealing with key challenges: Which channels should a campaign focus on? How will they be measured? Where should the bulk of marketing spend go?
As important as those questions are, the tools to achieve their answers are where marketing software plays a crucial role. A well-understood, integrated software tool can turn a disjointed mess of a multichannel campaign into a sophisticated, automated workflow delivering important insights.
To facilitate a better understanding of the adoption of marketing software among marketers, Target Marketing, in collaboration with InfoTrends' Digital Marketing and Media service, launched the "North American Marketing Software Investment Outlook," a survey of Target Marketing's readership. Thanks to reader input, we were able to gather 525 qualified respondents who serve on internal/corporate marketing teams, or as agency-based marketers. The results offer key insights into where marketers are investing and what major pain points exist in software integration.
Budgetary concerns are some of the clearest challenges facing marketers today. While the economy has bounced back, many are still learning to make due with less capital, and technology investment has suffered. According to respondents, 52 percent of marketers use their own departmental funds and subsequently smaller budgets to purchase technology, while 50 percent are unable to spend more than $25,000 on marketing technology investments.
Spend is also marketing-focus dependent. For example, B-to-C marketers tend to spend more than their B-to-B counterparts on software.
Many of the marketers surveyed would love to increase spend on marketing technology, but feel key organizational shifts must happen first. Organizations must realize that technology purchases are now the responsibility of not only the marketing department, but also the IT department. Without the assistance of IT, CMOs are left to make software decisions on their own and will often run into implementation problems down the line.