Results outlined in ‘The State of MarTech During a Pandemic’ indicate COVID-19 has had a variety of impacts on the MarTech stack
OTTAWA, ON – September 15, 2020 – Revenue Marketing consultancy Demand Spring has released the results of their recent “MarTech Stack in a Pandemic” survey. The report, “The State of MarTech During a Pandemic”, looks at how COVID-19 has affected technology spending in the marketing field.
Based on responses from marketing professionals, the survey uncovered a number of key findings, including:
- 67% of marketers have been negatively impacted by the pandemic
- 36% of marketers have experienced cuts to their martech budget
- 24% of organizations cancelled martech subscriptions deeming them ‘non-essential’
One of the most interesting findings relates to additional martech investment, with 43% of organizations indicating that they have added new tools to their martech stack. Reasons for these additional investments include supporting business growth, supporting a shift to digital marketing, transitioning to an online business model, and managing new demands for services.
Mark Emond, President of Demand Spring, said:
“We had heard various tidbits from marketers over the past few months indicating that the pandemic has brought changes to their marketing organizations, particularly when it came to the tech stack. This survey enabled us to further dive into this and find out what is really happening. Marketers have added new technologies during the pandemic, which indicates that their shift in focus resulted in bringing in new technologies to meet their evolving requirements. And, even though many organizations have seen budget cuts, the good news is that 44% of marketers expect martech spending levels to return to normal in 2021.”
For more information, and to see a full copy of the report, click here.