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Ad Buyers are Still Figuring Out Their 2021 Budgets - AdWeek

Ad Buyers are Still Figuring Out Their 2021 Budgets - AdWeek | The Marteq Alert | Scoop.it

An IAB survey reveals all the questions marketers have heading into next year.

 

Overall, 54% of budgets next year will be executed programmatically, according to those surveyed.

 

Foundational pieces to the mechanics of targeted advertising, third-party cookies and Apple’s IDFA, have a short shelf-life.

 

Plus, CCPA is now enforceable (though California recently passed a new privacy bill that’s more similar to Europe’s GDPR). With a new president set to enter office, a national privacy law may follow, too. Heading into next year, ad buyers are still trying to understand what these data privacy changes mean for their business.

CYDigital/marteq.ios insight:

3rd party cookies are fini, ergo, so is targeted advertising as we knew it.

 

marteq.io is preparing a FREE pilot program for its Marteq application. Contact joe@marteq.io for more information and to see if you qualify. #martech #marketing

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Delivering digital ROI - how to measure your success - ClickZ

Delivering digital ROI - how to measure your success - ClickZ | The Marteq Alert | Scoop.it
  • Budgets are under even more pressure than usual so it’s important to target tech investment where it will quickly achieve bottom-line impact and ROI.
  • 98% of consumers leave websites without converting – addressing this dire statistic is key to digital success.
  • Personalization and experimentation will help and models such as Forrester Consulting’s Total Economic Impact (TEI) will identify the costs, benefits, and risk factors to ensure the outlay is worth it. This uses a rigorous framework to identify the costs, benefits, and risk factors around a technology investment. It places equal weight on total costs and total returns it allows you to carry out a full examination of the effect of the technology on the entire organization.
CYDigital/marteq.ios insight:

I recommended this during the first wave of COVID-19 earlier this year, and I'm continuing to recommend it during this second wave: re-examine your technology, pare down where necessary, and re-configure so as to deepen your engagement with your current consumers/customers.

 

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State of Martech Report - Clevertouch

  • 73.5% of organisations plan to maintain or increase marketing spend in 2021.
  • 68.5% of marketers expect to have fewer resources available to them in 2021, and will need to produce the same or better results.
  • 47.5% of marketers are aware of data compliance but don’t factor it into their marketing strategy or planning.
  • Nearly 50% of marketers believe their biggest challenge with data management is poor quality data or data stored in siloes.
CYDigital/marteq.ios insight:

It's a mix between US, UK and EMEA marketer respondents, which I suppose accounts for the disparity between this report (click through to the reg form) and Gartner forecasts regarding 2021 budgeting. 

 

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Brands Will Waste 99.9% Of Banner Advertising Spend This Year - IT News Online

  • Brands will spend $329 billion of their $700 billion global advertising spend on digital advertising this year, a number which is set to increase to $390 billion by 2022 when the global advertising spend is expected to rise at $749.8 billion
  • Up to 74% of this budget will be shared across just seven companies, with Facebook and Google claiming the lion share, despite advertisers becoming increasingly disillusioned with these advertising giants due to concerns regarding ad fraud, issues around data privacy, brand safety and hate speech
  • Despite brands spending half their digital media budgets on Facebook, only 11% and 10% of consumers want brand communication via Facebook or Facebook Messenger respectively
CYDigital/marteq.ios insight:

The headline prompts ingesting a huge boulder of salt, but the aforementioned data is revealing.

 

See how extended zero-party data is your greatest marketing resource...tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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Gartner Says Nearly 60% of Marketing Leaders Expect Moderate to Severe Cuts to Martech Budgets - WebWire

Gartner Says Nearly 60% of Marketing Leaders Expect Moderate to Severe Cuts to Martech Budgets - WebWire | The Marteq Alert | Scoop.it
Despite surviving the first round of COVID-19 related budget cuts, nearly 60% of marketing technology leaders now say they expect moderate to severe cuts to their martech budgets, according to Gartner, Inc. These highly protected martech investments are now under the microscope, with 35% of marketing technology leaders initiating a process to overhaul their martech stack.

In the Gartner Marketing Technology Survey 2020, Gartner surveyed 387 marketing technology leaders from July through September 2020 to understand current, and future, martech spending trends.

These looming budget cuts come at a time when martech stack utilization remains a struggle for many marketing organizations. The Gartner survey revealed that marketing organizations still utilize only 58% of their martech stack’s full breadth of capabilities – a level that has remained flat since 2019. As marketers invest in tools and add-on capabilities that ultimately go unused, marketing leaders put their credibility on the line. Interestingly, 66% of respondents facing a pandemic-related cut to their martech budget have delayed a purchase of at least one previously approved marketing technology solution.
CYDigital/marteq.ios insight:

We said this during the first COVID-19 surge, that the real budget cuts would not come until the second surge (if there was a second surge). Well, there is, and here come the cuts.

 

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The Marketing Technology Intelligence Report: August Review - ClickZ

The Marketing Technology Intelligence Report: August Review - ClickZ | The Marteq Alert | Scoop.it

The data in this Marketing Technology Intelligence report will be most useful to marketers and senior leaders within Marketing Technology companies as well as brand-side marketers looking to see how other marketers are budgeting and purchasing marketing technology.

This report will help to:

  • Understand the current marketing budget trends from June-August.
  • Outline companies’ total budget spending on Marketing Technology.
  • Shed light on the top technologies marketers are evaluating and willing to invest in.
  • Identify the top five reads on ClickZ.com.
  • Track $400 million of Marketing Technology funding within the August period.
CYDigital/marteq.ios insight:

The report is available behind a brief reg form.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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Procter & Gamble hikes marketing spending by at least $100 million as sales soar | Ad Age

Procter & Gamble hikes marketing spending by at least $100 million as sales soar | Ad Age | The Marteq Alert | Scoop.it
Procter & Gamble Co. blew through analyst expectations for the just-ended fiscal first quarter, with organic sales up 9% to $19.3 billion, net earnings up 19% and no signs that the dwindling effects of this spring’s U.S. stimulus is making people trade down to cheaper products.

P&G increased marketing spending at least $100 million last quarter, Co-Chairman and Chief Financial Officer Jon Moeller said on an earnings briefing call with media. That came as P&G continues to wring savings out of overhead, media, agency and production costs – at a pace of more than $200 million last quarter -- but spent those savings back on marketing.
CYDigital/marteq.ios insight:

Funneling savings back into marketing: no wonder they're a world leader.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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10 B2B Marketing Automation Trends For Your 2021 B2B Marketing Strategy | KoMarketing

10 B2B Marketing Automation Trends For Your 2021 B2B Marketing Strategy | KoMarketing | The Marteq Alert | Scoop.it
  • More Investment.
  • Efficiency and Effectiveness.
  • Sales and Marketing Alignment.
  • Personalization.
  • Advertising.
  • Multichannel Marketing (Sometimes Called “Single Customer View (SCV)”).
  • AI-Driven Workflows and Buyers’ Journeys.
  • Conversational Marketing.
  • Automated Attribution.
  • Marketing Automation is No Longer Distinct From Any Other Marketing Strategy.
CYDigital/marteq.ios insight:

Completely agree with Personalization, but data management is MIA, especially in light of legislation. Click through to review the associated charts and tables.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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'Cautiously Optimistic' — Agency Leaders Weigh Industry's Recovery Prospects - Provoke Media

'Cautiously Optimistic' — Agency Leaders Weigh Industry's Recovery Prospects - Provoke Media | The Marteq Alert | Scoop.it
Last week, PRovoke's latest global industry study revealed an improved business outlook for PR agencies and in-house communications departments. The research, carried out by PRovoke, ICCO, APACD and Stickybeak, attracted 437 respondents from across the globe — finding an overall upturn in business and budget sentiment compared to the first two waves of the survey. 

In general, the comments indicate a considerably more positive outlook than our last interrogation of agency views in April, which found an industry grappling with profound uncertainty amid the economic fallout and mental anxiety of a global pandemic. 

In particular, as reflected in the survey results, client budgets are in recovery mode — and have proven particularly resilient in such areas as crisis, corporate reputation, purpose and employee engagement.
CYDigital/marteq.ios insight:

If we get into a second wave of Covid-19, you can bank on a significant budget reduction effort driven by the CFO. It's a lock. And by the way, the data for new cases is not looking good these past 14 days.

 

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Less Is More: Dealing With 2020's Marketing Budget Challenges - CMSwire

Less Is More: Dealing With 2020's Marketing Budget Challenges - CMSwire | The Marteq Alert | Scoop.it
If your budget has already been cut, it’s important that you do all you can to protect against further cuts by justifying the value of marketing investments to the enterprise, and squeezing the most value from the remaining budget you have. In fact, even if your budget has not been cut, these are essential steps to take, minimizing the threat of potential future cuts and maximizing value. 

This is the essence of marketing cost optimization. While the natural response to budget cuts may be to slice away at budget line items, Gartner recommends a programmatic approach, which looks at optimizing all elements across marketing’s operational mix: labor, agencies, technology and channels. To do this, CMOs need to answer three fundamental questions:

How do I prove the value of the marketing investments I need to protect?
How do I identify the costs I can afford to cut?
How do I optimize marketing costs to drive greater ROI? 
CYDigital/marteq.ios insight:

From the author of the August Gartner report.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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Demand Spring Releases Results of Marketing Technology Survey - MarTech Series

Demand Spring Releases Results of Marketing Technology Survey - MarTech Series | The Marteq Alert | Scoop.it
Based on responses from marketing professionals, the survey uncovered a number of key findings, including:

67% of marketers have been negatively impacted by the pandemic

36% of marketers have experienced cuts to their martech budget

24% of organizations cancelled martech subscriptions deeming them ‘non-essential’

One of the most interesting findings relates to additional martech investment, with 43% of organizations indicating that they have added new tools to their martech stack. Reasons for these additional investments include supporting business growth, supporting a shift to digital marketing, transitioning to an online business model, and managing new demands for services.
CYDigital/marteq.ios insight:

Very much in alignment with the recent Gartner survey results.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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IAB: US digital ad spend will grow 6% this year amid broader slowdown

IAB: US digital ad spend will grow 6% this year amid broader slowdown | The Marteq Alert | Scoop.it
  • Advertising executives expect spending on digital advertising in the U.S. will grow 6% this year, contrasting with an 8% decline for the broader ad market. Spending on traditional media that includes linear TV, out-of-home, standard radio, print and direct mail will plunge 30%, the Interactive Advertising Bureau (IAB) found in survey results this week.
  • Among the digital ad categories, paid search is the fastest-growing with a 26% estimated gain, followed by social media (25%), connected TV (19%), digital video (18%) and digital display (15%). Spending on several digital outlets will dip this year, including a 43% drop for digital OOH, 8% decline for podcasts and 5% slide for digital audio.
  • Media buyers who have a "very clear" or "somewhat clear" idea of their 2021 budgets said their ad spending will increase 5.3% next year. Only 30% of advertising executives have a clear idea of their budgets, leaving 70% with vague or nonexistent estimates for 2021, the survey found. The IAB surveyed 242 professionals with insights on media spending.
CYDigital/marteq.ios insight:

FWIW: webinar spending up, podcasting spending down.

 

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How attitudes to purchasing martech may be changing - MarTech Today

Are brands retrenching on martech under COVID, relying on tried and tested stack components? Or are they willing to experiment and try new solutions to seize unexpected opportunities which might come their way?

“It’s hard to generalize,” said HubSpot VP of Platform Ecosystem Scott Brinker in a recent appearance on MarTech Live. Among other things, it depends on a brand’s digital maturity, he said. Would a brand get value out of a new martech tool? “For a relatively mature, technologically speaking, marketing team it’s entirely possible; for someone further down the curve, there might just be other priorities.”
CYDigital/marteq.ios insight:

Spending has not quite slowed down under Covid-19, as the data shows. No retrenching....as of now.

 

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Marketers expect slight cut to martech budgets, but new platforms still the focus - MarTech Today

Marketers expect slight cut to martech budgets, but new platforms still the focus - MarTech Today | The Marteq Alert | Scoop.it
Based on our Forecast 2021 survey of nearly 100 marketing professionals, martech is not expected to take nearly as big a hit as other areas. According to our survey, 55% of respondents expect their advertising and campaign budgets to take the biggest hit for 2021, compared to martech spend (18%) and personnel (16%).  The findings align with Gartner’s recently released 2020 CMO Spend survey, in which 24% of respondents said martech spending would still be a priority in 2021 despite the upheaval.

Our survey found 60% of respondents said the majority of their martech budget will be spent on new platforms and solutions, and 26% said that investment would be on new virtual events solutions. 

That 60% said the focus will be on new platforms and solutions suggests the trend we outlined last year with our Martech Replacement Survey has not abated despite the upheaval. In that report, we found half of marketers were replacing home-grown solutions with new technology.
CYDigital/marteq.ios insight:

The key phrase: replacing home grown solutions with new tech.

 

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CIO Pandemic Business Impact Survey, 2020 - IDG

CIO Pandemic Business Impact Survey, 2020 - IDG | The Marteq Alert | Scoop.it

Key Findings:

-Technology is realized as a key element in navigating the pandemic – 41% of ITDMs anticipate their tech budgets will increase in the next 12 months (bouncing back from 25% in April), and another 35% expect budgets to be stable.
-CEOs’ top priority for IT continues to be to lead digital business/digital transformation initiatives, and 59% of respondents agree that the effects of the pandemic are accelerating their digital transformation efforts.
-As a result of COVID-19, 64% of ITDMS say that increasing operational efficiency has increased importance as a digital business objective, followed by creating better customer experiences (58%) and improving security (58%).
-In order to become a digital business, ITDMs expect to invest more into big data/analytics, business process management and mobile devices over the next 12 months compared to three months ago.
-COVID-19 continues to change how we work, with the majority of organizations (52%) saying they won’t see employees back in the office in 2020, and organizations are facing the reality that on average only 23% of their workforce needs to be in the office for their business to be fully operational.

CYDigital/marteq.ios insight:

CT for the slide deck.

 

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