"Marketing technology, or "martech," promises smarter customer engagement-but without clear ROI, it risks becoming a digital money pit. Chief marketing officers and chief financial officers play a major role in preventing that. Email marketing tools, customer data and automation platforms, and social media and campaign management systems are all examples of martech. Their use and configuration vary by industry, Robert Tas, a partner at McKinsey & Company, told me. "For instance, in financial services, you'll find risk compliance tools integrated into marketing," he noted."
"In 2023, the global martech market was valued at $131 billion and is projected to grow at a 13.3% compound annual growth rate to surpass $215 billion by 2027-nearly doubling in five years, according to McKinsey's new report Rewiring Martech: From Cost Center to Growth Engine. Despite rapid growth, many marketers remain in the early stages of maturity-focused on automating legacy processes and struggling to measure ROI. The findings are based on a survey of more than 200 senior marketing and technology leaders at companies"
Martech encompasses email marketing tools, customer data and automation platforms, and social media and campaign management systems. The global martech market was valued at $131 billion in 2023 and is projected to exceed $215 billion by 2027 at a 13.3% CAGR. Many marketers remain in early maturity stages, focusing on automating legacy processes and struggling to measure ROI. Duplication across technology stacks leads to redundant spend and lack of alignment on tool retention. Most large companies use personalization, journey optimization, and customer decisioning, yet stack complexity and poor data integration hinder unified identity strategies and value realization.
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