Study: Half of Marketers Think Their Companies Don’t Invest Enough in Martech
CHICAGO (PRWEB) October 14, 2015 -- More than half of marketers think their company doesn’t invest enough in marketing technology, according to a study released today by public relations and digital marketing firm Walker Sands Communications.
The Walker Sands State of Marketing Technology 2016 report, called “Understanding the New Martech Buyer Journey,” finds that 51 percent of marketers want their employers to spend more money on martech solutions. Additionally, 42 percent say their organization’s current technology is out of date and insufficient for helping them do their jobs, meaning the lack of investment may be harming results.
When it comes to selling B2B marketing technology solutions, the study shows that vendors may face eager marketers but reluctant organizations.
“Marketers are tech-savvy, but their companies aren’t,” said Dave Parro, partner and director of the marketing technology practice at Walker Sands. “There’s a wide gap between what marketers want and need, and what their companies are willing to invest. Marketers are clearly frustrated with the slow pace of change.”
The Walker Sands study, based on a survey of more than 300 practicing marketers at companies of all sizes, illustrates the disconnect between marketers’ ambitions and company priorities. While 44 percent of marketers consider themselves innovators or early adopters of personal technology, 51 percent say their companies are among the last to adopt marketing technology.
Marketers cite budget restraints (69 percent) as the primary obstacle to investing in new martech tools, followed by difficulty to implement or integrate with other technology (35 percent), and internal resistance to change (33 percent). Other hindrances include lack of executive buy-in, lack of interest or information, and the inability to find a solution that meets their needs.
Only 20 percent of marketers say their company doesn’t need new marketing technology.
“It’s important to keep these challenges in mind when trying to sell into marketing organizations,” Parro said. “Martech vendors certainly must sell to the CMO, but they also have to arm end users with information throughout the research and purchase process so they can make an internal case for an investment.”
The Walker Sands State of Marketing Technology 2016 study surveyed 313 U.S. marketers on how they make marketing technology purchase decisions. The survey was fielded online between July 1-20, 2015, and respondents were limited to professionals who currently work in a marketing department. The survey has a 5.5 percent margin of error at a 95 percent confidence level.
To download the Walker Sands State of Marketing Technology 2016 report, click here.
About Walker Sands Communications
Walker Sands is a public relations and digital marketing agency for technology and business-to-business companies. With offices in Chicago and San Francisco, Walker Sands was founded in 2001 to provide data-driven marketing support for a wide array of companies with the business mission of providing best-in-class communications counsel and services. Walker Sands is a two-time Inc. 5000 Honoree and has received several other industry-specific awards, such as PRSA Skylines, Hermes and PR Daily, among others. To learn more, visit http://www.walkersands.com.
Jennifer Mulligan, Walker Sands Communications, http://www.walkersands.com/, +1 312-648-6005, [email protected]
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