Always take these surveys with a grain (or block!) of salt, but encouraging sign for #martech vendors who have had a rough a couple of years. Here's to a Happy New Year for you! Via The CMO Survey and HT David Raab.
We’ve been conducting similar surveys with CFOs about martech spend, with comparable results so I think this is an accurate forecast. One thing that they have emphasized is the value of solutions with more horizontal appeal, that could be customized for a specific function v built for it. Adobe’s Workfront is commonly cited as an example.
I think that technology buckets are in a great shift right now. The lines are blurring more and more each day. Gone are the days where you have JUST marketing tech, sales, customer success... look at AI. How can it possible be bucketed.
When I see stats like this, I always get excited about all the new MOps folks that we're going to need to effectively manage all this additional tech. Keep the insights coming Scott!
hardly a major investment
There seems to be more M&A happening which results in the reassessment of tech stack and consolidation between the 2 to 3 companies who have merged onto a single platform. Together with an increase in digital transformation projects. I think this might be an accurate prediction.
It's great to see positive signs for martech vendors!
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6dHow much of this do you associate with appetite for AI tools? And how this play into a trend for consolidation?