martech sees 16% of budgets

Marketing technology (aka martech) is now a massive industry – and London-based WARC has some numbers on the subject. The market intelligence firm surveyed more than 500 North American and UK brand marketers, finding that the martech marketplace currently sits at about $34.3 billion in annual expenditures for marketers. In other words, marketers are now spending an average of 16% of their marketing budgets on martech, according to WARC’s survey. The firm found that marketers are most likely to use martech tools for email marketing – indeed, about 85% of them are currently doing just that. A majority of respondents also said that they use martech tools for social media, and for managing CRM (customer relationship management) programs.

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