Martech’s share of total marketing budgets fell from 29% to 26% in Gartner’s latest CMO Spend Survey. Gartner doubts this signals a long-term decline but does note that CMO’s struggle to manage martech. They recommend hiring “martech generalists” to help meet changing demands and creating a plan to address skills gaps.
Salesforce quietly raised $666 million in equity last week, according to SEC papers noticed by Owler. No word from the company on what they’ll do with it.
Finally, Kubient has launched a real time bidding solution for digital out of home advertising. Because you never know when you’ll feel that sudden urge to buy a billboard.
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.