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Marketing automation spend set to reach $25bn

23 May 2018
by Force24

We recently read a really interesting article on MarTech Today, which highlighted the key predictions of the first Forrester forecast for marketing automation.

This global technology report for 2017-2023 hails marketing automation platforms as workhorses that won’t just attract increased spend from international brands over the coming years – they will also pull budget from other areas of marketing such as traditional TV and print advertising.

Of course the news is unsurprising to us, as enquiries from clients large and small continue to flood in at Force24’s Leeds HQ.

But it was encouraging to see a report of this status dominate the martech headlines.

Interestingly, the particular article that caught our eye eluded to the fact that innovation is continuing apace within the martech space, with newer and ever-more novel technologies increasingly being launched. But multichannel marketing automation platforms look set to achieve double-digit growth over the next few years, which shows just how important it is when compared to other offerings within the martech stack.

We spoke to our MD Adam Oldfield, to discover why he thinks this phenomenal global growth is indeed very likely: “Whilst we have been living and breathing marketing automation since 2010 – and we continue to invest heavily in our platform to provide marketers with even more powerful lead nurturing capabilities – we must remember that, in the wider industry, the potential of the tech remains quite untapped.

“Many brands have been slow to acknowledge the role that automation plays in their sales and marketing strategy, thinking that some simple email comms is all that’s required to create the dialogue they’re looking for with customers and prospects. This couldn’t be further from the truth. Thankfully, marketing professionals at all levels of seniority, are starting to realise this.

“I therefore think that we will continue to see phenomenal growth within the global marketing automation space, because the product is still in the early adoption stage of its lifecycle. It’s a very exciting world to be a part of.”

Force24

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