Research recently published by Conductor, a Web presence solutions provider, shows that approximately 65 percent of senior marketers expect to spend more on marketing technology this year than they did in 2014 in an effort to stay competitive in the digital space.
The data shows that some of these investments are expected to be significant increases, as about 28 percent of respondents said that they plan to boost spending by more than 25 percent in 2015. Conductor surveyed 182 professionals in the B2B and B2C marketing realm to determine how they value technology, measure their efforts and target their customers.
“These days, marketers need huge swaths of data to stay competitive and understand their growing digital businesses,” wrote the authors of the report. “Technology makes it possible to scale data collection, analysis, and reporting. This study made it clear there’s a growing focus on technology among marketing executives.”
Approximately 26 percent of respondents said they expect to spend the same amount of money on marketing technology in 2015, but how much of this goes toward the digital side?
The Financing of Digital Marketing
A Gartner report released in November showed that at least one-quarter of total marketing budgets went toward digital efforts in 2014. Gartner surveyed 315 marketing executives in the U.S. Canada, and the U.K. at companies with more than $500 million in revenue.
“The line between digital and traditional marketing continues to blur,” said Laura McLellan, research vice president at Gartner. “For marketers in 2014, it’s less about digital marketing than marketing in a digital world. Hence, marketers manage a much more balanced and integrated marketing mix than in previous years, which were characterized by online and offline silos.”
Nearly 68 percent of respondents said that they had a separate budget for digital marketing. About 23 percent of people said they had yet to incorporate digital marketing into each function of their marketing budget. Half of the executives surveyed said that they were planning to increase their marketing budgets in 2015.