MarTech budgets are skyrocketing as marketers try to reach the growing number of consumers moving into the digital space. But all the money in the world won’t matter if marketers don’t understand the market they are targeting. Which is why many are upping their investment in marketing tech, according to Tealium’s new data. Their researchers found the bulk (89%) of execs plan to spend more on MarTech in 2021 than they did in 2020, and 59% saying AI will be a key component.
“Now more than ever, organizations find success by connecting with their customers,” said Heidi Bullock, CMO at Tealium. “At Tealium, we’re constantly working to position the best capabilities at the forefront to help our customers better understand their customers and achieve their marketing goals. To do this effectively, we prioritize the opinions of marketers who leverage different resources in their various industries each day. Our 2021 State of the CDP Report shares a comprehensive view of the customer data platform market, diving deeper into how the technology is a key driver for customer success in today’s environment.”
Other interesting findings from Tealium’s State of Consumer Data Privacy report include:
• 32% of execs say they’ll spend ‘significantly more’ on MarTech in 2021
• 53% report their stacks are walled gardens that may not be cross compatible
• 59% say AI is central to their success strategy
• 62% report integration issues between MarTech stacks