Marketers at enterprise companies (at least 500 employees) are investing in marketing technology primarily to better understand customers and prospects (62%), a task seen as both a key priority and challenge for marketers. That’s according to the results of a Squiz survey of 608 marketing professionals in the US, Australia and the UK, a majority (57%) of whom also seek to automate processes and reduce time on admin.
Likewise, most (55%) are investing in marketing technology in order to be able to take a data-driven approach to marketing.
Virtually all respondents (97%) agreed that marketing technology has enabled their marketing department to be more strategic. In so doing, they believe that KPIs have become more data-driven and focused on ROI (43%), and that KPIs are higher because they can achieve more with automated processes.
Given how most marketers perceive that investing in MarTech produces strategic advantages, it makes sense that nearly two-thirds of marketers have made heavy investments in marketing technology, with roughly half of those adding to an existing stack and the other half investing for the first time.
Recent research suggests that companies are becoming more confident that they’re investing the right amount in marketing technology and that their tools are up to date and sufficient for their work.
Clearly, MarTech is perceived as playing an important role in modern marketing. These marketers aren’t just making big financial investments — they are also investing a lot of their time utilizing marketing technology. Respondents from Australia are the heaviest users, reporting spending 56% of their day directly using MarTech. Even participants in the UK and US averaged about 40% of their day working with marketing technology.
The amount of time the survey participants are devoting to MarTech may be a result of the optimism they feel about their ability to realize the full potential of these solutions: 81% of respondents said they were very confident that their business is competent in using marketing technology, while 16% felt fairly competent.
About the Data: The results are based on a survey of 608 senior marketing professionals from organizations with 500+ employees, one-third each from the US, UK, and Australia.