Dive Brief:
- Even though martech (marketing technology) is an important part of the B2B marketer's world, recent research found those marketers weren’t making the most of that technology.
- Less than a third of respondents to Ascend2’s research said martech was improving their performance.
- More than two-thirds reported not having all the martech tools they needed.
Dive Insight:
Recent research from Ascend2 on marketing technology found that although martech was important for B2B marketers, they struggled to make the most of the technology available. Two key findings include less than one-third of respondents said martech was improving performance, and more than two-thirds reported not having all the martech tools they needed. At the same time less than 20% said their budgets were significantly increasing.
The martech space in general is rapidly growing with the number of vendors doubling between 2013 and now with no signs of slowing down, and the sector is expected to exceed $20 billion by 2018 according to IDC. Integrate CMO Scott Vaughan told Marketing Dive, “There is a big appetite by marketers and investors alike to bet on martech.”
The martech space has seen a large amount of large acquisitions and general convergence over the last several years but Vaughan said the sector is growing so fast that “the number of new players entering the market is outrunning convergence today."
