Technology: Multichannel Marketing and Your Budget
Marketing technology purchases today demand the collaboration of the CMO and CTO to ensure not only that spend increases, but also that the technologies are functional across the organization. InfoTrends believes that increased technology demands on marketing will force collaboration, and the creation of new positions within marketing for technology specialization—e.g., chief innovation officer or chief digital officer—will eventually result in marketing departments having more control over technology budgets.
Integrated Suite or Standalone?
The types of software being invested in vary according to the needs of the respondents. One thing is clear: Integrated marketing suites, such as Salesforce Marketing Cloud, Oracle Marketing Cloud and Adobe Marketing Cloud, are being actively adopted. Just over 32 percent of respondents have an integrated marketing suite, and nearly 20 percent are considering purchasing one. Integrated marketing suites can help streamline marketing workflow by allowing marketers to pay based on a subscription model—giving more purchasing power back to the marketing department and ensuring that software is always up-to-date (a critical factor, considering the rapid pace at which the market is evolving).
However, InfoTrends recommends that, when making an integrated marketing suite purchase, marketers confirm the suite can easily integrate into their existing CRM systems; many respondents noted this was a top concern for their integrated marketing software purchase.
Integration of systems remains one of the top challenges for implementing not only marketing suites, but also standalone solutions that marketers are choosing to adopt over full suites.
Standalone solutions allow marketers, especially smaller marketing practitioners, to choose a best-of-breed solution without purchasing a full marketing suite. For those respondents who had standalone solutions, email (59.1 percent), search engine marketing (56.8 percent), as well as social media listening and analyzing (53.8 percent) are the top three software solutions being purchased.