Brands expect to spend more on technology this year, according to marketing trends 2022, a study from Oracle, conducted by Ascend2.
Of those polled, 82% plan to remove or replace parts of their current martech stack to improve performance, with 36% strongly agreeing with this statement.
Moreover, 64% are increasing their overall marketing budgets, while 11% are keeping them intact and 25% are penciling in a decrease.
What are they investing in? Email platforms are among the top three martech solutions:
Email is also one of the top two marketing solutions they say they cannot live without:
This occurs as 37% of marketers are confident in their chances of meeting their objectives this year, while 31% are hopeful and 24% are excited. Only 4% are nervous, while 3% are indifferent and 1% say they are panicked.
But they face challenges, including:
Still, 88% believe they have access to the right data to make critical marketing decisions, with 42% saying they strongly agree.
They see the following first-party data sources as valuable as third-party cookies disappear:
Many firm are deploying artificial intelligence, particularly for email marketing. They would trust or already use AI to do the following:
These capabilities will grow in importance as 43% add personalized content or offers to their strategy in 2022.
Meanwhile, 33% of B2B and 43% of B2C brands are very bullish about customer loyalty programs
Measurement remains an issue for some companies. Extremely successful marketing organizations cite these as their most difficult metrics to parse:
Other marketing firms face difficulties with these metrics:
Ascend2 surveyed 853 marketers from the U.S., the U.K., India and Canada in firms with annual revenue equivalent of $250 million or more from January 10-22, 2022. Of these, 40% were from the U.S., while 27% were from India, 24% were from the UK and 9% were from Canada.
In addition, 41% were involved in B2B, with 24% in B2C and 35% in both B2B and B2C.