The 2024 Marketing Technology Landscape has revealed an astonishing growth of 14,106 martech products, resulting in 27.8% more options than the previous year. Marketers estimate that 26% of their budgets are wasted due to ineffective channels, with about half indicating they misspend at least 20%. The financial strain is compounded as marketing budgets decreased from 9.1% of revenue to 7.7% in 2024. Consolidation of marketing apps can streamline operations, maintain functionality, and significantly reduce waste across marketing teams, addressing issues such as data silos and integration complications.
The 2024 Marketing Technology Landscape revealed a staggering 14,106 martech products available, representing 27.8% growth year-over-year, leading to a significant waste of marketing budgets.
Businesses using 15+ marketing apps can consolidate to a unified platform without losing functionality while reducing costs and improving team efficiency.
Average marketing budgets dropped from 9.1% of company revenue in 2023 to 7.7% in 2024, increasing pressure on teams to do more with less.
According to research by Proxima, up to 60% of marketing budgets are wasted due to inefficiencies in execution and planning, leading to operational and strategic waste.
#marketing-technology #budget-optimization #consolidation-strategies #operational-efficiency #martech
Collection
[
|
...
]