CLARITY: Marketing Technology

A recent report from Gartner highlighted that the use of technology in marketing is decreasing. In a survey of marketing practitioners, they were asked to think about the total of the capabilities made available by marketing technology. Then, they were asked to estimate how much they used, and what percentage of those capabilities were being utilised:

In 2020 the utilisation rate was 58%

In 2023 the utilisation rate was 33%

Wasting money

Based on Gartner’s benchmarks, the waste of money can be highlighted in this example:

• An organisation with £250 million in revenue only utilises 33% of its total marketing technology portfolio.
• The organisation allocates 9% of its revenue on marketing and 25% of that marketing budget goes towards technology.
• The organisation could be wasting nearly £4 million of its marketing budget in underutilised technology.

Conclusions

With marketing budgets under serious pressure, it makes sense to do a thorough review of your marketing technology to identify where savings can be made to avoid wasting money on idle equipment.