Why A Mere 2% Of B2B Marketers Are Cutting Back On Their Martech In 2022

Mind reading isn’t just reserved for vampires, wizards and Professor X. B2B marketers can conquer this superpower too… to an extent. They can identify the thoughts of their audience, sense their interest, learn what they want and how to deliver it.

We’re on the precipice of total mind-reading prowess, and it’s all thanks to the ever-increasing span of marketing technology readily available at the click of a button (for self-serve MarTech products at least).

It’s no wonder that 63% of B2B technology and SaaS marketers are looking to increase their use of MarTech this year!

New research from 93x and FINITE, the private global community for B2B technology and SaaS marketers, revealed that only 2% will be culling at least some of their MarTech stack, with the majority looking to buy, buy, buy.

While this spending can be reasoned by the offerings of MarTech, the unending possibilities it provides and the temptation of new and exciting tools and platforms, there are also a few quantifiable reasons why most B2B tech marketers are purchasing more MarTech this year.

Let’s list a few:

More than half of B2B tech marketers cannot measure the impact of their marketing on revenue.

FINITE’s report found that only 8% of B2B tech marketers say they can measure the impact of their marketing on revenue. When CMO’s and other marketing leaders have the shortest tenure across organisations, it is vital to track success and prove marketing’s value. So why can so few attribute marketing to tangible business growth?

That’s where MarTech comes in. Fully integrated marketing platforms that track your buyers across their lifecycle mean you can see when an ad contributes to a sale. While this is more of a challenge in B2B tech and SaaS, where sales cycles are lengthy and often involve multiple stakeholders, it’s not impossible.

What about when your MarTech stack isn’t so mature? You’re lacking a marketing operations manager or a consolidated platform. Well, most MarTech tools on their own have in-depth analytics to track users, engagement, and other important metrics.

MarTech won’t necessarily give you certainty when it comes to marketing attribution – but it will help you to make a much more educated guess, driven by data.

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Over half of B2B tech marketers are definitely doing ABM in 2022, and a quarter are considering it

Account-based marketing is a B2B marketing trend that won’t slow down! ABM promises results, as it connects the dots between B2B companies and large buying groups. With the rise of ABM comes the rise of ABM tools and platforms built to make multi-channel ABM easier across marketing teams.

As ABM matures within B2B organisations – including roles dedicated to ABM, support from senior leadership and defined strategies that also begin to encompass ABX – new MarTech will be required to support this function.

40% of B2B tech marketers think SEO was a channel that grew the most in importance in 2021

Just like ABM, SEO is on the rise, as search is the first port of call for any query in the digital world. Having optimised content will draw users to your website, build awareness for your brand and nurture their journey through the sales funnel.

The thing about SEO is, it’s hard to do well without the right tools and tech. Beyond Google Analytics and Google Search Console, there are a multitude of tools that can tell you what people are searching for, what questions they’re asking, what challenges they’re facing and how you can help.

Just as with ABM, with the rise of SEO marketing comes the rise of SEO tools that B2B marketers can add to their tech stack.

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64% of B2B marketing budgets have increased in 2022, up from 35% in 2021

It’s pretty obvious that with more budget comes more MarTech! This increase in marketing budgets reinforces the idea that marketing really does work to grow businesses and generate revenue. While team recruitment and ad spend are contenders for budget allocation, new MarTech remains top.

How to build and consolidate a MarTech stack for scale

While the expanding world of MarTech offers an abundance of opportunity and ‘mind-reading’ capabilities for B2B marketers, it also offers several challenges.

• “I’m overwhelmed! With so many options available, which MarTech is the best?”
• “Sure, that MarTech might be right for big enterprises, but what about my early stage B2B company?”
• “Oh no! I’ve got so much MarTech I don’t know what to do with it all!”
• “Eek! All of my tools are on separate platforms, and we’re not using half of them anymore!”

If you’re facing any of these woes, or if you’re curious to learn more about building and consolidating a MarTech stack for scale, tune into FINITE Fest: The free, one-day, virtual conference for B2B tech and SaaS marketers coming up on May 17th.