Affect of COVID-19 on B2B Martech Budgets
Most B2B marketers say the COVID-19 pandemic has impacted their company's marketing technology (martech) budget, according to recent research by Demand Spring.
The report is based on data from a survey of 50+ B2B marketers conducted in July 2020.
36% of respondents said their company cut their Martech budget due to COVID-19, 28% said their company increased their budget, 30% said the budget did not change, and 6 % are not sure.
In terms of how budget changes caused by COVID have affected their company's martech spending, 26% of marketers say they have invested in new technology since the pandemic began, and 24% say they delayed planned purchases.
44% of marketers expect their martech spending to return to normal levels in the next year, 16% don't expect spending to return to normal in 2021, and 40% are unsure.
About research: The report is based on data from a survey of more than 50 B2B marketers conducted in July 2020.
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