CRM technology is the most common tool in the marketing tech stacks of high-growth companies, according to a recently-released report [download page] from TOPO. However, it’s not always the more commonly used tools that provide the highest satisfaction and impact, with some emerging technologies proving more successful in these areas.
The survey of almost 300 respondents working at 273 high-growth companies primarily in the high-tech industry found that all (100%) use CRM. A majority of companies surveyed also use marketing automation (98%), webinar tools (88%), contact data technology (82%) and account data (78%), reflecting an established presence of data-driven marketing in these successful companies.
Fewer high-growth companies are using technologies such as content syndication (49%), lead-to-account matching and routing (48%) and intent data (48%), though this latter solution is pointed out in the report as the fastest-growing category.
Not all of the more commonly used technology categories are providing competitive levels of satisfaction and impact compared to other tools in a company’s martech stack. While companies are most satisfied with account-based platform technology (81%) and find it highly impactful (69%), it is only used by 4 in 10 (42%) respondents.
Similarly, although marketing automation is used by 98% of high-growth companies, it has a lower satisfaction rate (64%) than other more emerging technologies, like lead-to-account matching and routing (78%).
Half of the companies surveyed are using direct mail, amidst a dip in the volume of direct mail. Direct mail technology is also one of the lowest-performing in terms of satisfaction (53%) and impact (56%).
Most high-growth companies expect to hike their spending on marketing technology spending over the next 12 months, though to varying degrees. The majority expect an increase of more than 20% (27%) or 11-20% (26%), while fewer envision a modest increase of 1-10% (16%). Roughly one-quarter (26%) project a flat amount of spending over the next year, with just 4% predicting a decrease in spend.
Nonetheless, TOPO predicts that some organizations could streamline their tech stack in the next year and remove some vendors, focusing on those with the biggest proven impact on marketing results. Despite this, many organizations continue to invest in and expand their martech stack, usually monthly or quarterly.
An Executive Summary of the report can be downloaded here.
About the Data: Findings are based on an online survey of 297 marketing, sales and sales development leaders from 273 high-growth companies composed of a mix of TOP clients and other high-performing companies.