Marketing spending has fallen over-all and martech spending has dropped even more sharply, according to Gartner’s latest CMO Spend Survey. Marketing fell from 12.1% to 11.3% of annual revenue and martech fell from 27% to 22% of marketing spend. Bad news if true, but remember it’s just a survey.
Among my many pet peeves are vendor claims to have the first or only product in a market. Today’s news items are important even though they’re not as unique as promised. We’ll start with Panoply, which has just released its “smart cloud data warehouse” from beta. It uses artificial intelligence to automatically enrich, transform, and optimize complex data. That’s really important, since those tasks are major obstacles to customer data unification. So important, in fact, that we also wrote last week about Qubole’s similar-sounding product.
Finally, here’s a report from Demandbase and Wakefield Research on agency adoption of ABM.
Martech keeps taking larger bites out of marketing budgets: 17.3% last year, 19.9% this year, 23.5% next year, and 30.9% five years from now, according to the latest CMO Survey. This despite barely more than half (56.4%) of current tools being used and nearly half (48.8%) of the survey respondents reporting worse-than-expected results. Oddly enough, marketers rate selecting marketing technologies as the thing they do best.