B2B brands are planning to spend more on technology in the coming year. And that’s a good thing, given that many of them are dissatisfied with their current stacks, judging by The 2022 Outlook on Data and Technology: A Year of Herding Cats and Black Holes, a study from Anteriad, conducted by Ascend2.
Of the companies polled, 85% expect to increase their spend, in part to address these issues within their tech stacks:
In addition, 52% have a formal data strategy only in some places, while 34% have a comprehensive policy Another 12% have plans for a formal strategy, and 2% are not at any level.
And there are challenges. Enterprise companies, those with 1,000 or more employees, cite:
The numbers are different for brands with 500-1,000 employees:
What tools do B2B marketers have in their tech stacks? They list:
The list does not break out email platforms, but presumably they would be part of marketing databases.
Overall, 19% say their stacks are “more complex than a black hole.” But only 14% in the U.S. agree.
Moreover, 40% in the U.S. say their stacks are “Too complex, we need fewer solutions to deliver on marketing.” A minority feel that their tech stacks are not complex enough. But 23% in the U.S. say they are just right, exactly what they need to meet their marketing objectives, versus 18% overall.
Data integration is critical, with 72% who have their fully blended in saw more revenue growth last year, compared to 55% who were not fully integrated.
Moreover, 72% of those who are fully integrated feel extremely confident in in their data privacy compliance and security, compared to 43% overall.
In contrast to B2C firms that focus on first- and zero-party data, 46% of B2B companies are concentrating on between one and five data sources, 32% from one to five, and 15% from one to 10.
In general, B2B companies have set the following priorities for the year ahead:
But these goals vary among management levels. For 48% of the C-suite respondents, updating the technology stack is the top priority. But 56% of VPs prefer to focus on adopting a data strategy, and 47% of managers and directors prefer to centralize/unify data.
Ascend2 surveyed 370 marketing leaders at mid-market and enterprise companies in the U.S. and U.K.