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Most B2B marketers say the COVID-19 pandemic has had an impact on their firm's marketing technology (martech) budget, according to recent research from Demand Spring.

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.

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ABOUT THE AUTHOR

image of Ayaz Nanji

Ayaz Nanji is a digital strategist and a co-founder of ICW Media, a marketing agency specializing in content and social media services for tech firms. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji