Technology remains a priority for over two thirds of chief marketing officers (CMOs) while 33% say that tech stack enabling personalisation will take the lead in 2023.
That is according to a newly released 2023 State of Martech – Middle East report by Martechvibe which surveyed more than 450 CMOs in the region so it could track the response of the marketing community to technology trends and changing market dynamics.
Among others the report sheds light on how enterprises leverage customer data effectively, how personalisation has emerged as a highway to customer retention, and how marketers effectively use real-time data to feed informed actions. It has eight sub-sections, each providing insights into the Martech concerns and opportunities.
Its findings on marketing technology maturity in the region reveal that more than half (53%) of CMOs are happy with their current Martech stack while one-third (23%) expressed they still need to implement critical solutions. Over 11% admitted they their Martech stack is still a work-in-progress.
In preparing for a cookieless future 58% of marketers have started collecting first-party data, 32% have a data governance policy, and only 19% still rely on third-party data.
“Marketing leaders are re-evaluating how they spend ad budgets, and are looking for ways to offer loyal customers more value. The challenge isn’t simply offering personalised experiences, it is about doing it at scale, consistently,” said Sanjay Swamy, Director, Martechvibe.
“This report analyses how marketers are aligning business priorities with technology investments. We may see a new world order – and enterprise leaders who embrace disruption are most likely to come out on top.”
