The report was based on data from a survey of 50+ B2B marketers conducted in July 2020.
Some 36% of respondents say their firm has cut its martech budget because of COVID-19, 28% say their firm has increased its budget, 30% say the budget has not changed, and 6% are not sure.
As for how COVID-driven budget changes have affected their firm's martech spending, 26% of marketers say they have invested in new technologies since the pandemic began, and 24% say they have delayed planned purchases.
Some 44% of marketers say they expect their martech spending to return to normal levels next year, 16% do not expect spend levels to return to normal in 2021, and 40% are unsure.
About the research: The report was based on data from a survey of 50+ B2B marketers conducted in July 2020.
Continue reading "COVID-19's Impact on B2B Martech Budgets" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may like these other MarketingProfs articles related to Marketing Technology:
- Are You Making the Right B2B Martech Investments to Optimize for Agile Methods?
- The Top Areas Where Martech Tools Could Be Improved
- The Pros and Cons of Automation for Small Businesses [Infographic]
- Marketing Automation: Seven Machine-Learning Use Cases
- How Companies Can Use Digital Brand Ambassadors for B2B Influencer Marketing