About 68% of CMOs are planning to expand investment in Martech: Report

By Ayushi Garg  | Date: August 30, 2022

About 68% of CMOs are planning to expand investment in Martech: Report

According to a report, about two-thirds (68%) of the CMOs (chief marketing officers) are planning to boost their tech spending on marketing in 2022.

Credible sources cite that, in 2021, Marketing Tech (Martech) made up 26.2% of the standard marketing budget, which apparently is not sufficient as CXOs want to extend their Martech stack further.

Leading marketing automation platform, Resulticks has recently shared estimates about the journey ahead.

The firm says that going digital to target clients is the new center stage. Traditional corporations are enduring the pressure, while digital natives are going forward, confident that the marketing paradigm based in the virtual world is what will work in the future.

Dinesh Menon, Business Officer & Global Chief Strategy, Resulticks, notified that the transition to digital is ongoing.

For the unversed, Resulticks is a leader in offering real-time customer engagement solutions and was recognized recently in a report which states that the dependence on multichannel marketing hubs has increased, given the business growth.

Apparently, Resulticks have been recognized for the sixth time in the report which is evidence that how the brands engage and converse with customers has transformed.

Giants like HDFC Bank, ABFRL, UTI MF, Tanger Outlets, and others use Resulticks. However, the return on investment of marketing expenses is frequently measured by Martech. This has allowed Resulticks to onboard new clients during the pandemic.

According to Mr. Menon, there has been a rising demand for a more integrated or cohesive system that can easily consolidate data, be available at times the customer wants, and deliver real-time insights for modified content and campaign dissemination.

He on-boarded Sonkim Retail through the COVID-19 outbreak, although Tata Digital was onboarded just before the pandemic.

The report cites that the most high-quality software may be regularly updated with additional channels and features.

The service’s components include hyper-personalization, context-based targeting, and combining real-time client data to increase revenue and maximize return on investment.

Source credit – https://www.business-standard.com/article/current-affairs/two-thirds-of-cmos-aim-to-boost-marketing-technology-spending-report-122082900383_1.html

About Author

Ayushi Garg     ibmag.com

Ayushi Garg

Currently working as an associate content writer, Ayushi pens down insightful articles for several websites. She began her profession by taking classes in digital marketing to broaden her skills. Given her passion for writing, she took up several freelancing projects ...

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