Just over half (53%) of marketers say their organization manages five or more technology vendor relationships, and 15% say their company manages 10 or more.
The number of technology vendor relationships varies significantly by the size of the organization: 75% of companies with 1,000-5,000 employees are working with five or more vendors, compared with 33% of companies with 50-99 employees.
Below, additional key findings from the report, which was based on data from a survey of 300 US-based marketing executives who work for midsize companies (50-5,000 employees).
- 70% of respondents say marketing has become more challenging despite all the technology solutions available.
- 59% say they need an expert ("mini-CIO") on their team to help manage marketing technology.
2014 Marketing Priorities
Respondents' top priorities in 2014 are as follows:
- Acquiring new customers (87% rate as a high or very high priority)
- Increasing customer retention (86%)
- Increasing brand awareness (80%)
- 79% of respondents say it’s a major or moderate challenge to get customers' attention.
- 72% are having trouble finding their target audiences online.
- 72% say the volume of online content makes it difficult for them to stand out from the crowd.
About the research: The report was based on data from a February 2014 survey of 300 US-based marketing executives who work for midsize companies (50-5,000 employees).