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Ensuring technology pays for itself

A recent survey suggested that businesses spend around 20% of their marketing budget on technology, and although budgets may be increasing slightly, the share spent on technology is eating up all of this and more. Yet apparently between a third and a half of all this technology goes unused. And it’s not like the traditional advertising gag (“half of our advertising budget is a waste, we just don’t know which half”) – we should know what technology we’re spending money on that isn’t paying its way.

More challenging still is the undoubted appeal of upcoming AI/machine learning technology, which will cost even more money. Is this going to eat even further into our marketing budget?

We need to be monitoring the effectiveness of our marketing technology subscriptions as diligently as we monitor the effectiveness of marketing campaigns.