Marketing technology grabs 29 percent of 2018 CMO budgets, survey says

Marketing technology increasingly accounts for a significant share of marketing budgets, and 2018 was no different. According to Gartner’s CMO survey, Martech ate up nearly a third of marketing budgets, making marketing technology the largest area of investment for marketing resources and programs. And, according to the survey, it’s expected to grow with continued investments in 2019. According to the survey, CMOs spent an average of 25 percent of their martech budget on three channels: search (11.2 percent), email (5.9 percent), and website (7.6 percent). Marketing and customer analytics platforms accounted for 8.9 percent, indicating the need for measurement tools – and processes – to continue supporting these programs. Why you should care: As martech investments increase, marketers should expect increased visibility into digital marketing performance. Direct channel attribution should be a top priority for digital marketers and organizations looking to innovate and advance their marketing programs.