After the pandemic broke out earlier this year, marketing leaders cut back sharply on many expenses —except for their spending on technology. Investments in marketing technology still account for a sizable portion of marketing budgets. Yet brands utilize only 58% of their martech stack’s capabilities, according to Gartner research.
The disconnect between technology adoption and return on investment is a persistent challenge for digital marketing leaders. Taking cues from high-performing brands (Genius brands) can help drive greater martech utilization. Genius brands rank highest on the Gartner Digital IQ Index (DIQ), which scores more than 2,000 brands on four digital competency dimensions: Site, digital marketing channels, social media and path to purchase. Based on its score, each brand is classified as Genius, Gifted, Average, Challenged or Feeble.
As digital marketing strategies grow and mature, leading brands rely on a mix of products. “Leverage product combinations the way Genius brands often do,” says Benjamin Bloom, Senior Director Analyst, Gartner. “Establish which combinations are most relevant to your business and align complementary technologies to maximize capabilities and minimize waste.”