The momentum of the marketing technology industry shows no sign of slowing even as the space grows more and more complex. Walker Sands published the first State of Marketing Technology a year ago, and, since then, the number of martech vendors has grown exponentially, as seen by $1 billion+ in venture capital investment that has infiltrated the space, and marketing budgets surpassing advertising budgets. It’s not surprising, then, that the number of solutions has kept up with marketers’ and their companies’ interest.
The second annual State of Marketing Technology Report from Walker Sands indicates that marketers are tackling martech complexity head on. As budgets and attitudes toward companies’ adoption of martech increase, the vast majority of marketers are embracing customized martech suites comprised of best-of-breed solutions rather than single-vendor suites, revealing an eagerness to choose technologies to fulfill their needs and creating enormous opportunities for martech vendors.