CAMBRIDGE, Mass., July 6, 2022 /PRNewswire/ -- Marketing leaders say that investment in new marketing technologies (MarTech) will drive significantly increased revenues – but also admit that current levels of investment are insufficient to enable effective digital transformation, according to new research by Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity. The global study, conducted by research firm iResearch, surveyed marketing leaders from 11 countries in the Americas, Europe, and Asia-Pacific for their thoughts on the evolution of the marketing function over the next five years.
The study found that more than half (51%) of marketing leaders felt that investment in MarTech could increase revenues by 10% to 40% over the next five years. However, 59% also admit that they haven't been allocated enough budget to deliver truly effective digital transformation.
Marketing leaders believe the next five years will bring a period of major transformation for their function, with technology expected to play an important role for those making the proper investments. Some of the expected changes to occur include:
Quotes & Commentary:
"The marketing function has undergone radical changes over the last five years," said Tara DeZao, director of product marketing, MarTech & AdTech, Pega. "As technologies continue to evolve and customers continue to demand more personalized experiences, it's a trend we can expect to continue in the next five years and beyond. The successful businesses of tomorrow will be those that not only harness the power of these technologies to understand their customers but also leverage technology to build connections and create greater value throughout those relationships."
"Marketers are driving growth like never before," noted Liz Miller, vice president & principal analyst at Constellation Research. "To do this, marketing needs to rely and trust in the tools and technologies at their disposal. They need to connect with peers across the entire customer experience ecosystem to orchestrate a singularly contextual engagement strategy. This strategy cannot be based on how the brand wants to communicate to buyers, but instead needs to take that rich and relevant voice of the customer and translate it into business. Data, intelligence, and automation - the cornerstones of the marketing technology stack - are critical to empower marketers to lead this growth charge without compromising our capacity to tell the story of our brands with our customers."
Supporting Resources:
Notes to Editors
To understand how marketing is changing, we surveyed 750 marketing senior vice presidents, vice presidents, senior directors, directors, senior managers, and managers across key sectors, including Financial Services, Life Sciences, Healthcare, Retail Insurance, Manufacturing, Telecoms, and the Public Sector.
Respondents answered 17 multiple-choice questions, which delved into how marketing is expected to change in the next three to five years. The report also included qualitative interviews with marketing executives from the worlds of manufacturing, life sciences, and financial services.
About PegaPegadelivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world's leading brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pegatechnology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information on Pegasystems(NASDAQ:PEGA), visit www.pega.com.
Press Contact:Jon BrigdenPegasystems jon.brigden@pega.com Twitter: @pega
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SOURCE Pegasystems Inc.