Marketers will invest 70% more this year on marketing automation software, according to the latest State of Marketing Technology Report by Squiz, an Australian-based technology consultancy firm.
Despite the increase, 52% of marketers admit they still struggle to understand marketing automation. The report shows marketers are often quick to jump at the latest technologies, but rarely invest enough time and planning into how the technology will be used, maintained, and measured post-purchase.
The report also shows 80% of marketers believe that 50% of their marketing technology platforms are partly integrated, with just 3% identifying their systems as "totally integrated".
Squiz group CEO John-Paul Syriatowicz says: “Every business has the opportunity to be truly disruptive or transformative by fundamentally changing a process, resource, or way of communicating to be digital."
While integrating all platforms and channels is still thought to be a struggle for marketers, it is listed as the most important digital goal for 28% of respondents. This was followed by improving the 360-degree customer experience (26%). Meanwhile, more traditional marketing priorities like demonstrating ROI was down to just 8%.
Other findings from the report include: 46% of marketers described their relationship with IT as either ‘awesome’ or ‘collaborative’; investments in CRM technology increased by 26% in comparison to 2015; almost two-thirds (64%) of all respondents indicated that purchases for marketing software should be equally drawn from both marketing and IT’s budget; 15% of respondents would describe their organisation’s digital strategy as ‘visionary’, down from 20% in 2015.
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