Martech 2020 and beyond
18 October 2019
For the third year running, this report demonstrates the health of the marketing technology industry, with growth in martech budgets over the past year and with further investment planned.
The continuing consumer appetite for digital technologies is driving this global growth and the market is positive for both big and small vendors of marketing tools. However, the results also point towards a need for some brands to slow down their acquisition of new tools in favour of fully integrating and utilising existing tools and the need to retain creativity in marketing strategies in the face of the volume of tech and data available.
Whilst our report finds a healthy growth of 22% across martech spend – the elephant in the room remains data and its collection and usage by both agencies and brands. Against this, there are concerns over constraints caused by marketing budgets and challenges to onboard team members that are skilled in manipulating and interrogating data for client acquisition and brand building. In other words, brands are recognising the need to invest (and most likely in-house) data functions but there’s a frustration over finding talent and releasing funds. They should be worried – given the Information Commissioner's Office (ICO) has begun handing out massive fines to businesses that are failing to comply with data regulations, and failing to police the collection and usage of data.