Chief Marketing Officers Spending more on Tech than Manpower
Rohit Shetty
Digital Marketing Leader | Transforming Brands with Data-Driven Strategies | Expert in SEO, SEM, Content Marketing & Social Media | Proven Track Record in Growth & Innovation
Marketing Officers Spend more on Tech than Manpower.
Martech spend rises by 30% of the budgets as Marketing professionals looks to scale technology across.
As per the Latest Gartner CMO Survey Spent 2018-2019; Marketing Technology (Martech) products / solutions comprises of nearly 29% of the marketing budgets. This signifies that now-a-days marketers are now investing in tools to compete. Overall marketing budgets in 2018-19 are relatively flat compared to last year. In that type of scenario, where one investment area goes up, another must fall. Talent / Human Resource expenses fell from 28% in 2017-18 to 24% of marketing expense budgets in 2018-19.
Is Martech Replacing Talent?
While the above stats of Martech Budgets supports the question asked; the holistic view is more complex than that. As per the Gartner Report, this shift in marketing spends also indicates that the organization are dealing with capabilities, resources and talent in increasingly complex ways.
Marketers are now allocating more resources to martech supporting services with more than one third of this investment going towards agencies and companies. These services and human resource talent is spilt across various providers, consultants, in-house experts and many other players.
What next
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