CMOs Spend More on Martech Than Talent

Marketing Officers Spend more on Tech than Manpower.

Martech spend rises by 30% of the budgets as Marketing professionals looks to scale technology across.

As per the Latest Gartner CMO Survey Spent 2018-2019; Marketing Technology (Martech) products / solutions comprises of nearly 29% of the marketing budgets.  This signifies that now-a-days marketers are now investing in tools to compete.  Overall marketing budgets in 2018-19 are relatively flat compared to last year. In that type of scenario, where one investment area goes up, another must fall. Talent / Human Resource expenses fell from 28% in 2017-18 to 24% of marketing expense budgets in 2018-19.

martech

Is Martech Replacing Talent?

While the above stats of Martech Budgets supports the question asked; the holistic view is more complex than that.  As per the Gartner Report, this shift in marketing spends also indicates that the organization are dealing with capabilities, resources and talent in increasingly complex ways.

Marketers are now allocating more resources to martech supporting services with more than one third of this investment going towards agencies and companies.  These services and human resource talent is spilt across various providers, consultants, in-house experts and many other players.

What next

Currently martech services powers and excels marketing operations it also fuels competitive advantage; but its underutilized and redundant.  It is a common practice of marketers to use two or more solutions in average for Digital Marketing Analytics multitouch attribution, according to the Gartner 2016 Marketing Technology Survey.

To start off, aduit your Martech stack to have a list of tools your organization is currently using. This will be of dual effect, as you will just not be able to identify its effectiveness but also have a comparison against your competitor’s stack. As a result underutilized tools can be identified and new opportiunities can be consolidated to reduce redundancy.

Rohit N Shetty

Rohit Shetty born and brought up in Mumbai is a Digital Marketer by profession and a writer and philanthropist by passion.
Rohit started his career with First Step Publishing in Mumbai in 2011 as a Digital Marketer and excelled in the field of Publishing. With First Step Publishing, Rohit eliminated the cumbersome process of waiting for a writer to get published. With First Step Publishing, Rohit Shetty has been known for marching forward with some great titles and allowing first-time authors to find a platform and publish their content in a market space that focuses on branding a certain ‘author’ rather than scouring talent.

In an interview with DNA, First Step Publishing has been reported to be one of the fast-growing publishing firms based in Mumbai. The firm has the tagline ‘Paying Ways For New Writers’ which is meant to reflect the motive with which it was founded.

Rohit Shetty holds two National Records Records being Book With the Shortest Title ” i ” with Limca Book of Records Special Literature Edition and with India Book of Records as well. He holds the title of the Most Published poet of India in 2012 and 2013 with India Book Of Records and Unique World Records.

Apart from writing, Rohit is also an active Philanthropist and works towards Education and Health sectors.

Awards and Recognitions
Nominated four times for India’s Fourth Highest Civilian Award Padma Shri in 2017, 2018, 2019 and 2020
2012: Rohit has been recognized for his work and felicitated at the Grand Finale of Mulund Fest in 2012 by MLC Mr Charan Singh Sapra and MPCC President Mr Manikrao Thackrey
2012 and 2013: Most Published Poet by India Book of Records
2015: Book with the Shortest Title from Limca Book of Records, India Book of Records
2018: Member of NITI Ayog Atal Movement of change and Mentor of Change
2019: Nominated by Social Samosa as 40 Under 40 Digital Marketers in India
2019: Rohit Digital Marketing Blog www.rohitnshetty.com ranked 13th Spot as India’s Best Digital Marketing Blog by Expertido
2019: Rohit Digital Marketing Blog www.rohitnshetty.com was also Ranked in Top 50 India’s Best Digital Marketing Blog by Feedspot
2019: Received prestigious Dr APJ Abdul Kalam Memorial Award for work towards building the nation
2020: Global Brand Icon Awad by Brand Opus
2021: Rashtriya Prerna Award