It’s no secret that the marketing technology sector has continued to grow and evolve, with more than 1,900 companies occupying over 40 different product categories. Accompanying that growth is a shift in the martech buyer journey, with B2B researchers completing a dozen searches before settling on a specific brand.
On top of that, it’s estimated that martech spend will top $30 billion by 2018. Yet even amidst explosive growth, high search volume and a 12.4% increase in product consumption, more than half of marketers feel that their companies don’t invest enough in martech solutions.
The question is, why?
Watch this video to learn more about the study
In an oversaturated, highly competitive market, buyers and decision-makers face mounting obstacles in terms of investing in the latest martech technology. Walker Sands’ 2016 state of marketing report, “Understanding the New Martech Buyer Journey” surveyed over 300 U.S. marketers regarding how they make martech purchasing decisions. Key findings from the in-depth report revealed:
- Most organizations have multiple decision makers involved in a final decision about martech
- A majority of marketers are over halfway to a decision about a new martech purchase before even contacting a sales rep
- Most marketers only begin their search for technology after recognizing a company need
This evolution has presented B2B marketers with new challenges in mapping out the martech buyer journey.
Do you have the strategies in place to stay relevant? Download the study today to learn more.