Marketing tech budgets are on track to exceed the amount of money CIOs spend on technology in the coming year, according to new research from analyst firm Gartner.
Marketers highly depend on technology to achieve their marketing goals and therefore there is a growing need for CMOs to spend more on technology.
Business has drifted, and the more traditional ways of marketing no longer drives business growth like digital marketing does. Marketing is becoming more and more technology based. Marketing tech is now directly responsible for growth in the enterprise, according to Gartner. The study also shows the marketing decision maker (CMO) is totally responsible for choosing and managing marketing service providers at 83% of companies and choosing technology providers at 71% of companies.
Marketing has a huge influence on technology spending. The adoption of marketing technology has grown in many areas, including CRM, digital marketing, database marketing, customer analytics, mobile marketing and ecommerce. Digital marketing has experienced major growth, according to the study. Many businesses are now viewing marketing and digital marketing as one cohesive strategy.
