When Gartner’s annual CMO Spend Survey for 2017-2018 came out last year, many people seized on the fact that the money CMOs allocated for marketing technology had dropped to 22% of their budget, on average, down from 27% the year before.
Some took it as an unmistakable sign of an impending martech apocalypse (“martech-alypse?”).
I actually thought that 22% was a pretty good level of investment in martech. The fact that some budget was redistributed to services and paid media didn’t strike me as a retreat from martech, but rather a sign of marketing departments leaning more towards applying their marketing stacks to (hopefully) good use.
The fact is: martech is deeply and permanently embedded in the strategy and operations of marketing for the rest of, well, forever. Budgets and vendor landscapes will fluctuate — maybe even dramatically in some years — but martech is here to stay, as sure as electricity and swag.
But if you were concerned — or hopeful, for those naysayers out there — that martech was waning, Gartner’s new CMO Spend Survey for 2018-2019 delivers evidence to the contrary. The average percentage of a CMO’s budget allocated for martech jumped from 22% to 29%. That’s nearly 1/3 higher.
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