Emerging Marketing Technology: Helping or Hurting? (And how a CMO can get a handle on it all.)
Two marketing articles showed up at the top of my marketing news alerts this morning that seem to be in concerning contrast to each other.
- The 1st: Pressured CMOs look for quick fixes with technology
- The 2nd: 9 out of 10 brands struggle with emerging technology
You're likely also talking more and more about streamlining and reducing the overall organization-wide technology stack for both security and efficiency.
Some recent statistics from Gartner to consider:
- Nearly 1/3 of CMO budgets are allocated to marketing technology
- 1 in 6 marketing dollars are spent on innovation
- 57% of CEOs expect to increase their investment in marketing
We need to make sure we are not just implementing the latest and greatest martech, without a clear vision and plan for success. As CMOs we need to make our use of technology and automation a differentiator and cost saver, not a resource waster. Now's a great time to partner with our IT teams to review our marketing technology stack to ensure it's creating the impact we need.
If you're a CMO trying to understand what technology is hurting and what technology is helping, I highly recommend this article by David Lewis of DemandGen on how to evaluate your Martech stack. By asking your teams to have good data and a clear plan for both the technology you currently own as well as what you are adding you're bound to be one of the ten brands that are getting technology right!
Happy Marketing!
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2 年Maria, good post, thanks for sharing!
Head of Products | AI/ML, Enterprise, Deep Tech | Startup Advisor
5 年Great piece. Thank you for echoing my thoughts. As a technologist and accidental marketer, I look at marketing stack with a system engineer's mindset. We never design a product or system without thinking through first how we want the system to operate. I believe CMO's need more technologists on their team, to guide them towards designing systems that perform uniquely for their company, customer and partners. The more technology you buy, the more the cost will add up on system integration side. So design upfront for the outcomes, and don't outsource the tech strategy.?
Private Equity & Venture Capital - Account Executive at Gartner
5 年Really enjoyed this piece. Look forward to hearing more about this topic at MarTech Conference?this week! Hope to see you there
Your Texas IT Guy – Modernizing IT for Businesses | Secure, Scalable Solutions That Drive Growth & Maximize Efficiency
6 年Great insight.? thanks for the share!
I lead a forward-thinking, innovative leadership community dedicated to revolutionising the finance function in the digital era. Its members are catalysts for change within the profession, whom we connect & celebrate!
6 年So good! And relevant for every function. #CFOpeople When people ask me what technology they should learn, I will roll out this image and ask them to first tell me where the business needs help! #generationcfo