The CMO Council’s Solution Sourcing Center offers marketing and sales automation vendors, as well as technology integration consultants, a valuable channel to connect and interact with a global audience of senior marketers and functional area chiefs, including procurement, finance, sales, channel and line of business.
Facts & Stats
In an April survey of 500 marketing executives in the UK and US by Wipro and Coleman Parkes Research, just 8 percent of respondents said they plan to decrease the amount of money they invest in marketing technology next year. By contrast, nearly two-thirds said they plan to spend more on marketing technology next year.
According to a new study, 75 percent of chief marketers acknowledge that their jobs could be on the line should customer experience strategies fail. Moreover, nearly half of marketing respondents believe it is possible that their jobs will be at risk should technology investments fail, even though there are other factors that have a direct impact on the role.
Marketers have a mixed view of the state of customer engagement as 41 percent say that systems that fail to connect or deliver a unified view of the customer experience across all touchpoints have done the most to threaten the execution of the CX strategy.
After three consecutive years of growth, average marketing budgets at enterprise companies (most of the companies Gartner surveyed have more than $1 billion in revenue) have slipped from 12.1 percent of company revenue in 2016 to 11.3 percent in 2017.
In the past five years, 42 percent of marketers have installed more than 10 individual solutions across marketing, data, analytics or customer engagement technologies, and 9 percent have brought on more than 20 individual tools or solutions.