Martech spending continues strong despite rocky economy

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60% of businesses say they are increasing spending on marketing technology, services and personnel this year.


on March 13, 2023

Some 60% of businesses are increasing their spending on martech this year, according to a study by Clevertouch Marketing and the University of Southampton. However, more B2B businesses are reporting trouble in the stacks. 


This year 23% of B2B firms said their stack was several, unconnected disparate platforms. That’s a huge increase from 2022 when only 10% of companies said this. No surprise then that only 27.4% of these businesses say their martech stack is fully integrated and can pass data seamlessly between solutions. That’s a 12 percentage point drop from last year. Despite this, 31.7% say their customer experience is seamless. 


 


On the B2C side, 40.6% say their stack is fully integrated, which is essentially flat from last year’s 39.7%. Also, 7.7% have unconnected platforms that are not connected, down from 9.9% last year. 


Overall, marketers are happy with how their platforms are performing, with 84% saying they are satisfied with them, up 4 percentage points from last year.


The survey of 659 senior marketers across the U.S., U.K. and E.U., also showed the biggest marketing investments this year are:



  1. Campaigns: 19.7%
  2. Services: 19.3% 
  3. Integration: 15.9% 
  4. People: 9.6%

Why we care. While the B2B numbers are perplexing, it’s good to see that investments in martech remain strong amid the choppy economic waters. Also, those satisfaction numbers are strong and getting stronger. All this suggests that there are solutions even for companies having stack problems.





 


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About the author











Constantine von Hoffman is managing editor of MarTech. A veteran journalist, Con has covered business, finance, marketing and tech for CBSNews.com, Brandweek, CMO, and Inc. He has been city editor of the Boston Herald, news producer at NPR, and has written for Harvard Business Review, Boston Magazine, Sierra, and many other publications. He has also been a professional stand-up comedian, given talks at anime and gaming conventions on everything from My Neighbor Totoro to the history of dice and boardgames, and is author of the magical realist novel John Henry the Revelator. He lives in Boston with his wife, Jennifer, and either too many or too few dogs.

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