Some 60% of companies are increasing their spending on martech this 12 months, based on a study by Clevertouch Marketing and the University of Southampton. However, more B2B businesses are reporting trouble within the stacks.
This 12 months 23% of B2B firms said their stack was several, unconnected disparate platforms. That’s an enormous increase from 2022 when only 10% of firms said this. No surprise then that only 27.4% of those businesses say their martech stack is fully integrated and might pass data seamlessly between solutions. That’s a 12 percentage point drop from last 12 months. Despite this, 31.7% say their customer experience is seamless.
Dig deeper: B2B martech spending growth slows, may hit $8.5 billion by 2024
On the B2C side, 40.6% say their stack is fully integrated, which is basically flat from last 12 months’s 39.7%. Also, 7.7% have unconnected platforms that are usually not connected, down from 9.9% last 12 months.
Overall, marketers are glad with how their platforms are performing, with 84% saying they’re satisfied with them, up 4 percentage points from last 12 months.
The survey of 659 senior marketers across the U.S., U.K. and E.U., also showed the most important marketing investments this 12 months are:
- Campaigns: 19.7%
- Services: 19.3%
- Integration: 15.9%
- People: 9.6%
Why we care. While the B2B numbers are perplexing, it’s good to see that investments in martech remain strong amid the choppy economic waters. Also, those satisfaction numbers are strong and getting stronger. All this implies that there are answers even for firms having stack problems.
Read the complete article here
