22% of marketing organizations are planning to increase their spending in 2020, according to a … [+]
22% of marketing organizations are planning to increase their spending in 2020, according to a survey by BDO, WARC, and the University of Bristol. Their results reflect the strong demand for marketing technology (martech) solutions globally. BDO found that marketing automation budgets increased 25% last year, and the martech industry in North America and the UK is $65.9B, with the global market estimated to be $121B.
Scott Brinker, leading authority on martech, VP Platform Ecosystem at HubSpot and Editor at chiefmartec.com, commented in the BDO survey that “the martech industry continues to paradoxically consolidate and diversify. While the total number of martech apps in the world continues to grow, leading marketing platforms — such as Adobe, HubSpot, Oracle, and Salesforce — are increasingly orienting around ecosystems of these apps. The platform provides coherence in marketing data and workflow, while the app ecosystem provides a long tail of specialized capabilities and vertical market solutions. Consolidated platforms with diversified ecosystems have the potential to give the market the best of both worlds and help marketers harness the tremendous energy of the SaaS app explosion.”
The following ten charts provide insights into marketing technologies’ rapid growth and many contributions to businesses using them today:
Source: Statista based on Forrester forecast.
Source: BDO, WARC, and the University of Bristol, Martech 2020 and beyond (PDF, 12 pp., opt-in required).
Martech collaboration between marketing and IT and the real impediments to martech success blog post, November 21, 2019.
Source: Statista.
Source: Statista based on Adobe’s Target AI Personalization Survey.
Source: Salesforce’s State of Marketing Study, 5th edition
Source: The CMO Survey, Highlights and Insights Report by Deloitte, Duke Fuqua School of Business, and the American Marketing Association, 2019. (PDF, 71 pp., no opt-in).
Source: Dream vs. Reality: The State of Consumer First and Omnichannel Marketing. EConsultancy (36 pp., PDF, free, no opt-in).
Source: 6 Technologies on the Gartner Hype Cycle for Digital Marketing and Advertising, 2019.
Source: The Dividends of Digital Marketing Maturity, Boston Consulting Group, February 18, 2019.
Additional resources:
15 examples of artificial intelligence in marketing, eConsultancy, February 28, 2019
4 Positive Effects of AI Use in Email Marketing, Statista, March 1, 2019
4 Ways Artificial Intelligence Can Improve Your Marketing (Plus 10 Provider Suggestions), Forbes, Kate Harrison, January 20, 2019
4 Ways to Use Machine Learning in Marketing Automation, Medium, March 30, 2017
84 percent of B2C marketing organizations are implementing or expanding AI in 2018. Infographic. Amplero.
AI, Machine Learning, and their Application for Growth, Adelyn Zhou. SlideShare/LinkedIn. Feb. 8, 2018.
AI: The Next Generation of Marketing Driving Competitive Advantage throughout the Customer Life Cycle (PDF, 10 pp., no opt-in), Forrester, February 2017.
AI: The Next Generation Of Marketing Driving Competitive Advantage Throughout The Customer Life Cycle, Forrester Consulting. February 2017 (10 pp., PDF, free, no opt-in).
An Executive’s Guide to Machine Learning, McKinsey Quarterly. June 2015.
Artificial Intelligence for Marketers 2018: Finding Value beyond the Hype, eMarketer. (PDF, 20 pp., no opt-in). October 2017
Artificial Intelligence for Marketing (complete book) (361 pp., PDF, free, no opt-in)
Artificial Intelligence Roundup, eMarketer, May 2018 (15 pp., PDF, free, no opt-in)
Artificial Intelligence: The Next Frontier? McKinsey Global Institute (PDF, 80 pp., no opt-in)
Artificial Intelligence: The Ultimate Technological Disruption Ascends, Woodside Capital Partners. (PDF, 111 pp., no opt-in). January 2017.
AWS Announces Amazon Machine Learning Solutions Lab, Marketing Technology Insights
B2B Predictive Marketing Analytics Platforms: A Marketer’s Guide, (PDF, 36 pp., no opt-in) Marketing Land Research Report.
David Simchi-Levi
Digital Intelligence Briefing, Adobe, 2018 (43 pp., PDF, free, no opt-in).
Forrester: Marketing automation spend will reach $25B by 2023, May 7, 2018
Four Use Cases of Machine Learning in Marketing, June 28, 2018, Martech Advisor,
Gartner, The Annual CMO Spend Survey 2019-2020 Research, October 1, 2019
How 28 Brands Are Using AI to Enhance Their Marketing [Infographic], Impact Blog
How AI Is Changing Sales, Harvard Business Review, July 30, 2018
How Artificial Intelligence and Machine Learning Will Reshape Small Businesses, SMB Group (PDF, 8 pp., no opt-in) May 2017.
How Machine Learning Helps Sales Success (PDF, 12 pp., no opt-in) Cognizant
How To Win Tomorrow’s Car Buyers – Artificial Intelligence in Marketing & Sales, McKinsey Center for Future Mobility, McKinsey & Company. February 2019. (44 pp., PDF, free, no opt-in)
How Top Marketers Use Artificial Intelligence On-Demand Webinar with Vala Afshar, Chief Digital Evangelist, Salesforce and Meghann York, Director, Product Marketing, Salesforce
IDC MarketScape: Worldwide Artificial Intelligence in Enterprise Marketing Clouds 2017 Vendor Assessment, (11 pp., PDF, free, no opt-in.)
In-depth: Artificial Intelligence 2019, Statistia Digital Market Outlook, February 2019 (client access reqd).
Inside Salesforce Einstein Artificial Intelligence A Look at Salesforce Einstein Capabilities, Use Cases and Challenges, Doug Henschen, Constellation Research, February 15, 2017
Leading reasons to use artificial intelligence (AI) for marketing personalization according to industry professionals worldwide in 2018, Statista.
Lessons of 21st-Century Brands Modern Brands & AI Report, Forbes Insights and Quantcast Study (17 pp., PDF, free, opt-in),
Machine Learning for Marketers (PDF, 91 pp., no opt-in) iPullRank
Machine Learning Marketing – Expert Consensus of 51 Executives and Startups, TechEmergence. May 15, 2017.
Marketing & Sales Big Data, Analytics, and the Future of Marketing & Sales, (PDF, 60 pp., no opt-in), McKinsey & Company.
Powerful pricing: The next frontier in apparel and fashion advanced analytics, McKinsey & Company, December 2018
Share of marketing and agency professionals who are comfortable with AI-enabled technology automated handling of their campaigns in the United States as of June 2018, Statista.
Sizing the prize – What’s the real value of AI for your business and how can you capitalize? (PDF, 32 pp., no opt-in) PwC, 2017.
The CMO Survey: Highlights and Insights Report, February 2019. Duke University, Deloitte and American Marketing Association. (71 pp., PDF, free, no opt-in).
The New Frontier of Price Optimization, MIT Technology Review. September 07, 2017.
The Outlook for Data 2019: A Snapshot into the Evolving Role of Audience Insight. Winterberry Group, February 2019 (PDF, 11 pp., no opt-in)
The Power Of Customer Context, Forrester (PDF, 20 pp., no opt-in) Carlton A. Doty, April 14, 2014. Provided courtesy of Pegasystems.
Turning AI into concrete value: the successful implementers’ toolkit, Capgemini Consulting. 2017. (PDF, 28 pp., no opt-in)
Using machine learning for insurance pricing optimization, Google Cloud Big Data and Machine Learning Blog, March 29, 2017
Visualizing the uses and potential impact of AI and other analytics, McKinsey Global Institute, April 2018. Interactive page based on Tableau data set can be found here.
What Marketers Can Expect from AI in 2018, Jacob Shama. Mintigo. January 16, 2018.
What really matters in B2B dynamic pricing, McKinsey & Company, October 2018
Winning tomorrow’s car buyers using artificial intelligence in marketing and sales, McKinsey & Company, February 2019
Worldwide Spending on Artificial Intelligence Systems Will Grow to Nearly $35.8 Billion in 2019, According to New IDC Spending Guide, IDC; March 11, 2019