Under-pressure marketers now spend 25% on martech, a new report from Mediahawk highlights

UK marketing teams are now spending significantly on technology — to achieve bigger results from smaller teams that have been impacted by budget cuts and talent shortages. However, few marketers are taking advantage of analytics to shape their campaigns, according to new industry research.

Despite a widespread squeeze on budgets, tech now accounts for around 25% of spending, reports a martech trends 2022 study from Mediahawk, which quizzed over 60 marketing leaders in healthcare, the automotive sector, IT, retail, education, manufacturing, trade, professional services, and marketing agencies.

In one surprising finding, the report notes that the vast majority of marketers (88%) use analytics in an "overly passive" way, predominantly to monitor campaign performance. Only 27% are using insights to shape their marketing plans and just 6% are identifying critical customer behaviour trends, says the martech trends 2022 study.

"Despite teams having fewer people and budgets being streamlined, martech stacks are getting bigger — as companies strive to increase conversion rates and pursue growth," says Michael Morrell, CEO at Mediahawk. "But relatively few marketers are unearthing the gold buried in their analytics, through tools such as call tracking. With a few deft moves, marketers could identify the entire customer journey in a meaningful way, spot the most critical touch-points, and flag up clear opportunities to optimise their next campaigns. Savvy marketers will be making this a priority in the next 12 months."

Research in "The state of marketing analytics technology 2022" covers the top objectives and challenges for UK marketers today. Intriguingly, the study also reveals the top six tools that marketing teams favour the most, showing the popularity of each.

Other topics featured in this free Mediahawk report include recruitment, the size of budgets, martech trends, and five top recommendations for marketers wanting to achieve more from their tech stack.

About Mediahawk
Mediahawk are pioneers in call tracking technology and marketing attribution of calls. They work across an ever growing range of sectors, including healthcare, automotive, finance, legal, care homes, technology, and marketing agencies. Mediahawk is trusted by businesses around the world to take the guesswork out of their marketing performance and drive more sales.

Press release distributed by Pressat on behalf of Mediahawk, on Tuesday 2 August, 2022. For more information subscribe and follow https://pressat.co.uk/

Martech Trends Call Tracking Marketing Martech Attribution Marketing Analytics Marketing Strategy Economy Budgets Technology Mediahawk Computing & Telecoms Media & Marketing
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Under-pressure marketers now spend 25% on martech, a new report from Mediahawk highlights