Seven out of 10 marketers are ramping up investments towards marketing technology, as per a recent CMO Council survey worldwide.
The report found that marketers are planning to re-initiate marketing investments in the year ahead after the pandemic disrupted the marketing budgets in 2020. Of those polled, 65% of marketers plan to increase their marketing spends in 2021, while 24% expect to keep their investments steady.
Only 10% plan to lower budgets from 2020. Further, with marketing budgets from trade shows and events being saved up from the last year, marketers are reinvesting the funds in technology, automation and transformation tool.
Also, marketers reported plans for optimising consumer journeys, and over one in three said they want to improve acquisition and retention via data and digital innovation. Top priorities for marketers included cooperation between different departments, lowering costs and increasing efficiency.
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