Marketo found that marketers expect they will need to invest significantly in technology in the next three to five years, but are concerned about whether they will have sufficient budget to do so.
The study, conducted by The Economist Intelligence Unit, interviewed 478 senior marketers and CMOs globally.
Marketers were asked to pick their two largest challenges in the next 12 months. Nearly 40% selected sufficient budgets, the highest percentage, and 29% selected measurement on marketing return on investment.
When asked where increased spending will go, users were asked to pick their three highest priorities. Social media garnered 37% response, mobile received 28% response and marketing analytics received 25%.
While budgets are expected to be an ongoing headache, the overall results painted a rosy picture of the marketers’ influence with the company. Much of this stemmed from the perspective that sales have viewed the customer relationship as transactional, whereas marketing asserted that they were best to ensure new and existing customers were constantly and consistently engaged. Just over 50% said that marketing will be responsible for the customer journey in five years.
Marketers also said they expected companies to begin viewing the marketing departments less as cost centers to revenue-generating, though no specifics as to how or why this would happen were cited in the report. But in addressing this potential change in optics, marketers confirmed their departments needed a significant organizational overhaul, including a redefinition of what skill sets they should prize in recruits. Digital engagement and marketing operations and technology were the top two responses.
