27% of Marketers to Boost Martech Investment by At Least 21% Over the Next Year

Marketers continue to use martech to achieve their primary objectives, and new research shows that they will increase their investment in this area in the coming months.

TOPO recently released its “Marketing Technology Report,” and data showed that the majority of marketers (27%) intend to increase their investment in martech by at least 21% within the next 12 months. About 26% of marketers said that they will increase their investment by between 11% and 20%, and 16% stated that they will boost their martech investment by between 1% and 10%.

The most common forms of martech that marketers cited as being in use are CRM (100%), marketing automation (98%) and webinar (88%). Contact data (82%), account data (78%) and search and social advertising (75%) are also popular among martech users.

The Hesitancy Toward AI for Marketing Purposes

Despite the growing investment in martech, marketers still remain hesitant when it comes to artificial intelligence (AI), according to previous research.

Advertiser Perceptions previously published the results of a survey that showed 50% of marketers and advertisers have no plans to use AI in their marketing strategies. This statistic was 14% more than the 36% of marketers and advertisers who said the same back in April 2019.

“With AI, most have yet to see practical demonstrations of effectiveness,” said Frank Papsadore, EVP at Advertiser Perceptions. “Add to that uncertainty around privacy laws and the lack of guidelines or standard practices, and you have a recipe for hesitation.”