The world of marketing technology has exploded in the last decade. As customers have embraced social, cloud and mobile technologies, marketers too have invested heavily in digital tools.
The stats below paint a picture of the impressive expansion of martech and help show what companies need to do in order to get more from their marketing stack.
- A 2015 study conducted by Computerworld found that 23 percent of IT professionals plan to increase spending on marketing technology in 2016. (TWEET THIS STAT)
- By 2017, CMOs will be spending more on technology than CIOs, predicts the research firm Gartner. (TWEET THIS STAT)
- By 2018, spending on martech will reach $32.3 billion, estimates the American advisory firm IDC. (TWEET THIS STAT)
- The 2015 edition of the Marketing Technology Landscape, an annual infographic released by Scott Brinker, program chair of the MarTech conference series, includes 1,876 vendors represented in the space across 43 categories. (TWEET THIS STAT)
- As of May 2015, 29 martech “unicorns” are valued at $1 billion each. (TWEET THIS STAT)
- In 2015 alone, over 300 martech companies received $17 billion in funding. (TWEET THIS STAT)
- A 2015 report released by the market research firm Econsultancy found that 51 percent of organizations use 21 or more digital marketing solutions—a 42 percent increase from three years ago. (TWEET THIS STAT)
- Only nine percent of companies have a complete, fully utilized martech stack, according to a 2015 report published by the research firm Ascend2. (TWEET THIS STAT)
- According to the same Ascend2 report, 87 percent of marketers believe martech is improving marketing performance at their companies. (TWEET THIS STAT)
- Ascend2 also found that 67 percent of marketers think that they don’t have all the tools they need yet. (TWEET THIS STAT)
- Marketers are seeing ROI from most martech tools. For instance, conversion rate optimization (CRO) solutions show an average ROI of 223.7 percent. (TWEET THIS STAT)
- According to Symantec, 51 percent of marketing executives believe that their marketing technologies and data are only loosely integrated. (TWEET THIS STAT)
- The rise of marketing technology is giving way to the rise of a new C-suite role: the chief marketing technologist (CMT). According to Gartner, 81 percent of large companies (defined as those with more than $500 million revenue) now have a CMT role as of January 2014—and eight percent of large enterprises expect to add the role in the next 24 months. (TWEET THIS STAT)
These stats show that, for the most part, marketers are seeing ROI from martech. But there is still work to be done. To get more from their martech stack, companies need to invest in integrating the vast amount of data they have and get a deeper, more unified understanding of their customers.
More importantly, companies need to realize that their marketing technology stack isn’t fully complete without customer intelligence. All the technology in the world can’t replace the value of engaging directly with customers—of building an emotional relationship with customers and continuously learning from their insight. Technology alone doesn’t build trust—authentic, two-way conversations do.