According to recent research from Demand Spring, most B2B marketers say the COVID-19 pandemic has had an impact on their firm's marketing technology (martech) budget. 36% of respondents say their firm has cut its budget, 28% say they have increased it, and 30% say the budget has not changed.
26% of marketers say they have invested in new technologies since the pandemic began, while 24% say they have delayed planned purchases. 44% of marketers expect their martech spending to return to normal levels next year, while 16% do not expect it to. The report was based on data from a survey of 50+ B2B marketers conducted in July 2020.
COVID-19 has had a major impact on B2B marketers' martech budget, with 36% of firms cutting it and 28% increasing it. 26% have invested in new technologies, and 44% expect the budget to return to normal levels next year. The findings are based on a survey of 50+ B2B marketers conducted in July 2020.
COVID-19's Impact on B2B Martech Budgets
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