With the speed at which technology is advancing nowadays, the world is left to play a constant game of catch up. This is especially true in the marketing world, where players in the industry have to react quickly to the ever-evolving technological landscape or be left using outdated, less efficient technology. This development is taking the industry by force with no signs of slowing down.
According to a study co-conducted by Walker Sands and chiefmartec.com, over 300 marketing professionals were surveyed about marketing technology. Not surprisingly, the study revealed that companies are having trouble keeping up with the rapid speeds in which the Martech industry is expanding. While three-quarters of marketers say that the industry is developing at an unprecedented pace, only one-third believe their companies are keeping up with expansion. What this ultimately points to is the belief that the technology sector is evolving at faster rates than companies can keep up with.
However, this doesn’t mean marketers plan on just sitting around and watching this industry unfold. Nearly 70% of them expect an increase in their marketing technology budgets.
Despite the discrepancy between the innovation of the Martech industry and companies’ adoption of the newer technology, more than double the number of marketers now consider their companies pioneers or early adopters in marketing technology compared to a year ago. This demonstrates that even though the Martech industry can be overwhelming and hard to keep up with, marketers are fully aware that upgrading their toolkits and becoming knowledgeable on what the industry has to offer should be one of their top priorities.
As vast and as daunting as the marketing technology industry appears to be, there seems to be nothing but an exciting future ahead of us. And these consistent media innovations are what we live for.