New Delhi, Aug 29 : Around 68 percent (two-third) of the chief marketing officers (CMOs) are looking to increase their marketing technology budgets this year, a new study revealed on Monday.In 2021 Gartner estimates that Martech (marketing technology) comprised 26.2 percent of the marketing budget.
This isn’t enough since CXOs are looking to increase their Martech stack even further.
Resulticks is a global leading company in Martech, that was named in the 2022 Gartner Magic Quadrant for Multichannel Marketing Hubs (MMH), has made predictions about the future.
Digital as a method to reach out to consumers, is taking at the center of the stage.
While traditional businesses are feeling the pain and digital natives are moving forward in the belief that the current marketing model that is based to the virtual world is what is going to work.
The pattern for 2022 appears to be similar to Gartner’s 2021 forecast that 68 percent (about two-thirds) of CMOs want to increase their investment in technology for marketing.
“The transition to digital technology is not going away,” says Dinesh Menon, Global Chief Strategy & Business Officer, Resulticks.
Resulticks is a world market leader in the field of real-time solutions for customer engagement.
It was recently recognized in the Gartner Magic Quadrant for Multichannel Marketing Hubs (MMH).
The report for 2022 According to Gartner “highlights the digital marketing leaders’ increasing dependence on multichannel marketing hubs to drive expansion of businesses”.
This is the sixth straight year in which Resultsicks has been recognized in this study.This is an acknowledgement of how brands interact and interact with customers has changed.
Resulticks is utilized by HDFC Bank, UTI MF, ABFRL, Tanger Outlets among other companies.Martechs are known to “measure the returns on investment of marketing costs”.
Because of this, Resulticks has on-boarded new customers during the pandemic.
According to Menon Menon, a customer of Resulticks, “There is an increasing need for a more cohesive or integrated system that can consolidate data, be accessible at the most convenient touch points for customers and provide real-time data for personalized campaign and content dissemination.We enrolled Sonkim Retail during the pandemic and Tata Digital was onboarded just before the outbreak.”
The secret formula for Martech appears to be to build and sustain an ecosystem that provides the benefits for marketers.The top companies, aside from Resultsicks are Adobe, Salesforce, HCL Unica and many more.
The majority of good software can be regularly upgraded with different channels as well as capabilities.
The key elements of the software include hyper-personalisation contextual targeting, the integration of real-time customer data to boost growth and maximize ROI, according to the report.
vc/dpb
