March 9, 2021
Nearly 60% of marketing technology leaders said they expected moderate to severe cuts to their martech budgets, according to Gartner. Gartner surveyed 387 marketing technology leaders to understand current, and future, martech spending trends and released Marketing Technology Survey 2020 report. Marketing organizations still utilize only 58% of their martech stack’s full breadth of capabilities – a level that has remained flat sinc...e 2019. It means, that marketers invest in tools and add-on capabilities that ultimately go unused. 66% of respondents facing a pandemic-related cut to their martech budget have delayed a purchase of at least one previously approved marketing technology solution. 81% of surveyed believing their current martech stack is effective at meeting their organization’s business objectives. 20% of respondents who say their stack is effective also agree that they struggle to utilize the full capabilities of their stack, which translates into capabilities that lie fallow and therefore cannot generate business value. Gartner research shows that when it comes to utilization, success hinges less on the actual technologies selected and more on the people and processes involved. The leading impediments to increased martech utilization include lack of cross-functional collaboration, solutions with unused features, disorganized and siloed customer data and the overall complexity of the current martech ecosystem.