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.
You may like these other MarketingProfs articles related to Marketing Technology:
- Eight Myths of Marketing Automation
- Meh on the Metaverse: How Americans Feel About Virtual Worlds
- Four Ways AI Can Win You More Customers
- AI-Powered Martech in 2022: Promising or Already Indispensable?
- B2B Tech Buyer Trends: Goodbye Vendor Reps, Hello Self-Service
- Taming Martech Stack Bloat Is Essential to Scaling Revenue