20 stats every martech professional should know
In our latest Wildfire labs report, we examine the problems of martech marketing and provide five top tips for how vendors and brands can build a better comms plan for their martech products.But before you go and download that handy guide, here are 20 must-know stats about the martech landscape.
Despite a huge number of acquisitions last year, there are still over 8,000 vendors operating in the martech space
The average large enterprise has up to 120 tools in its martech stack
28% of marketers think that it's critical to reduce the number of martech vendors they currently buy from
36% of marketers think that it’s urgent to use fewer tools for their marketing activities
36% of marketers say that analytics is the most important tool at their disposal
Before coronavirus, one in five marketing organisations had plans to increase their spending on marketing technologies in 2020
Despite plans to increase budgets, martech spending as a percentage of budget is down 10% since 2018
88% of marketing leaders want to accelerate the execution of their campaigns
Only 24% of marketing leaders strongly feel their martech solutions are strategic enables for their business
36% of marketers say that analytics is the most important tool at their disposal
83% of B2B marketers have invested in data analytics in 2020
65% of marketers expect to use martech to improve ROI, making it their number one priority
57% of marketers expect to use martech to improve the efficiency of their marketing
Spending on AI-based martech solutions is projected to reach $52.2B by 2021
83% of marketers upgraded or replaced at least one martech application in the last 12 months
52% of marketers believe that disparate systems are the biggest barrier currently holding their marketing back
18% of CMOs believe they’ll have to deal with budget cuts in 2021
The average marketing technologist spends 10+ hours a week using a marketing automation platform
Marketers only use 61% of the functionality available in their martech portfolios
Market research and competitive insights were the number-one use for martech platforms in 2020
Want to learn more about how your martech brand can get noticed? Download Wildfire’s “Why martech brands suck at marketing” ebook for free.
