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The obvious shift in the digital landscape reveals that marketing technology is more than a trend, and clarifies the need for a leader who can unify departments.
- Big data integration
- Customer engagement software
- Digital marketing and e-commerce
- Efficient management of technology
Key Technology Spending In Marketing:
- Marketing and analytics software (SaaS): 24.4 per cent
- Infrastructure (hosted/cloud servers, network storage): 28 per cent
- IT Cross-charges: 21.3 per cent
- External services for development, implementation, and integration of marketing applications: 25.2 per cent
- Other: 1 per cent
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It is not difficult to enlist some of the main reasons why this new executive has emerged:
- Software became the chief means of engaging prospects and customers
- Digital marketing and e-commerce skills: once those two methodologies increasingly augment or replace traditional touchpoints, the importance of mastering those capabilities grows.
- The rise in digital budgets: it is not merely a migration of spending from traditional to digital media. A growing portion of marketing’s budget is now allocated to technology itself.
- Efficiently manage all this technology: there are now well over 1,000 marketing software providers worldwide, with offerings ranging from major platforms for CRM, content management, and marketing automation to specialized solutions for social media management, content marketing, and customer-facing apps.
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If marketing uses on average between two and seven technologies, that’s a full-time job for any technologist to deal with. And let’s remember something; many of these technologies don’t require a developer or IT person to set up or work with. Many are cloud-based. So the marketing technologist doesn’t really have to be tech-savvy – they have to be configuration savvy. There’s a big difference between the two.
The CMO might be involved in leading digital business transformation, along with the CIO and possibly the CMTO (if there is one), but the marketing technologist who spends his or her time working on getting that martech stack to work? She’s not going to play a key role.
The role of the marketing technologist will live on, but it will evolve and I think will split into two levels. Most will slide into the bottom level where they will focus on managing the martech stack because they won’t have the time, experience or ability to master the triad of skills required for a senior position that knows how to drive forward a transformation strategy.
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With the Gartner 2015-2016 CMO Spend Survey noting that 33% of marketing budgets are spent on technology, the case for the chief marketing technology officer (CMTO) is on the rise--again.
The new role highlights the increasingly tight links between marketing and technology needed to drive marketing campaigns, and the need to wade through an immense number of technology products available in the market.
The survey noted that CMOs are gaining bigger budgets in the 2016-2017 period for the third year in a row.
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MarTech is the New Black. Get fashionable.
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"Some of the key findings of the report include: - 35% of UK marketers feel the CMT role has become so vital, that it will replace the traditional Chief Marketing Officer (CMO) role within the next 5 years
- 31% of marketers surveyed say they would like to take this role on themselves.
- 53% say most organisations should employ both a CMO and CMT, or at least a tech-focussed senior marketer.
- 56% of UK marketers already manage technology in-house – primarily because they felt it was more cost-effective (according to 41%)"
Suffering from MarTech FOMO? We’ve got the cure.
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► About Us: iNeoMarketing provides Marketing Technology services, applications and support to B2B companies who may not have the required resources, knowledge or expertise. Visit us at ineomarketing.com.
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From the MarTech Conference in Boston, Massachusetts, August 19-20, 2014. SESSION: Marketing Technologist as Marketing Transformation Sherpa
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Digest...
By thinking through and then implementing some of these following six steps, you can save time, reduce waste and improve operational marketing management.
>> Get everyone pulling in the same direction. Defining business and marketing objectives first is crucial, your most powerful leadership tool is clear and specific objectives. Define your battleground, understand where your efforts are likely to have the greatest impact to the goals you have set.
>> Identify the decision-making and operational structure. Defining individual roles within a framework will help prevent unnecessary overlapping and waste of resources. Once people have a clear suite of accountabilities and see how they fit within the team to help achieve the goals you will have an empowered and focused team. For marketing operations involving more than one team, decide if units will operate under a centralised decision-making structure, or whether local teams will have more tactical decision-making autonomy.
>> Design efficient, tailored processes. To run as smoothly as possible, each aspect of the marketing plan should be guided by a process which takes into account the decision-making structure, available resources, technology and internal and external policies. Designing efficient processes can require some trial and error, so be prepared to adapt them as necessary.
>> Use data to measure marketing performance. Data-driven marketing allows you to continually measure performance and adjust strategy so you’re always on course to reach goals it also removes the HIPPO effect and reduces time debating opinions. Work together with stakeholders to define performance indicators and ensure they are closely aligned with sales and business objectives. Make data-driven marketing efficient by automating report generation.
>> Utilise Technology. While I wouldn’t recommend chasing the next shiny new object, technology can be a great enabler. Tools such as the Adobe Creative Cloud, Basecamp, Google Docs and Dropbox have made traditional labour intensive and time-consuming tasks easy and accessible. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
Properly scope the role. Make sure you’ve defined the role as a strategic advisor to marketing, as one who can help you monitor, assess then implement emerging technologies that are on your critical path to compete; that are on your critical path for growth. Align the role with business strategy. If your number one business initiative is to compete more effectively in the digital economy, to avoid losing share to more digitally-savvy competitors, you’ve got a situation any good CMT wants to tackle. Focus the role on growth. Survey after survey reveals growth as a leading initiative in organizations across all sectors. There are many ways to grow a company, and the digital economy presents unique opportunities to increase wallet share, upsell, cross sell, and offer new products to new customer types. Your CMT can help you put definition around of these strategies, then help you set priorities. Think customer experience. The digital economy is all about delivering a seamless, compelling customer experience across a greater set of digital channels, touchpoints and communications. But integration is key here. Your CMT, as part creative, part marketer and part technologist is the one most tasked with initiatives that aim to compete on customer experience. This is not an area where traditional IT excels. Today’s CMT however, has expertise, background and knowledge of how experience can be a competitive differentiator. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
Managing a large content marketing team at scale, implementing more sophisticated content-driven experiences, and inventing novel ways to break through the noise are all aspects of content marketing that can be aided by technology. The chief technologist role is an example of a new kind of hybrid professional known as a marketing technologist. Marketing technologists can be either tech-savvy marketers or marketing-savvy IT people. They can be either self-taught power users and hackers or formally trained computer scientists and IT managers. But they share an intuitive appreciation for how software works and are passionate about applying that knowledge in the service of brilliant marketing and remarkable customer experiences. • As marketing departments turn into full-blown publishing units, they require new processes and systems to scale efficiently. • Marketing technologists can help with orchestrating the delivery and tracking of content marketing programs through marketing automation platforms and more personalized customer experience management website platforms. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
How much does a chief marketing technologist earn? It depends on the size of the company, the industry, and the region, but according to the Mondo Resourcing & Staffing Agency the range is $140,000 to $241,000. However, the most fascinating statistic by far from Mondo’s report is that chief marketing technologists have become the most in-demand marketing executive for placements — even ahead of chief digital officers. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Intermediate/ Digest...
Nearly two thirds of the respondents (63%) say they have too many marketing technology vendors to manage. More than half of the study’s respondents (53%) use five or more discrete marketing technology solutions, including marketing automation software, CRM, email marketing and social media tools. Additional key findings include: - The top three marketing priorities for mid-sized companies in 2014 are to acquire new customers (87%), increase customer retention (86%), and increase brand awareness (80%);
- 79% of marketing executives say it’s a challenge to get (and hold) the attention of target customers, and 72% say it’s difficult to find their target audiences online;
- 70% agree that marketing has become more challenging, despite (or, perhaps, because of) the wide range of technology solutions available to them;
- 53% of mid-sized companies use five or more marketing technology solutions. 15% use 10 or more; and
- 79% of respondents somewhat or strongly agree that online communities are a “critical channel” for their marketing efforts. By the end of the year, 77% of respondents say their companies plan to have online communities in place, 90% of them including customers, 77% including employees.
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The stakes are high for bridging this gap. Achieving a tighter bond between these two critical enterprise roles will greatly increase the odds that organizations end up with a digital marketing platform that not only leverages existing IT investments and minimizes integration headaches, but also delivers the services CMOs need to meet customer expectations for truly contextual multi-channel engagement.
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Advanced/ Excerpt...
Companies in the study that have a chief marketing technologist seem to place more value on marketing efforts—at least if you look at the marketing budgets. Organizations with this position doled nearly 12% of revenue on marketing. Those without the role spent just 7%. What's more, the report indicates that those with a chief marketing technologist are more likely to increase their marketing expense budgets in 2014, with much of that expansion allocated to digital marketing. As the role continues to evolve, so could the title, duties, and expectations. Analysts at Gartner predict that by 2017 the chief marketing officer will spend more on technology than the chief information officer. This finding implies the chief marketing technologist will grow in influence and visibility. More companies need someone to lead the day to day management of marketing technologies. And as companies incorporate and innovate more technology for marketers, this position will be one that a growing number of companies will need to succeed. ___________________________________ ► FREE: AgileContent™ delivers more quality content to your market! Get your FREE 14 Day Trial NOW!: http://goo.gl/rzeg79. No credit card required! ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Marketing + IT = Chief Marketing Technology Officer [Infographic] - Digital Commerce, Information Technology, Marketing ___________________________________ ► FREE: AgileContent™ delivers more quality content to your market! Get your FREE 14 Day Trial NOW!: http://goo.gl/rzeg79. No credit card required! ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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![[FREE REPORT] Next-generation marketing and the CMO-CIO divide | #TheMarketingTechAlert | The MarTech Digest | Scoop.it](https://img.scoop.it/0gw-MB9TlYgEh97mwbEusnCypPtktPfVAn033ftACFA=)
![Marketing + IT = Chief Marketing Technology Officer [Infographic] - GetElastic | #TheMarketingTechAlert | The MarTech Digest | Scoop.it](https://img.scoop.it/0_T1-y0XoWYnF8zJMUxQ_PL6dadsvGA8m9WNoVsbzkY=)
A bit of an update from Scott Brinker's article from a few years ago.
RYZZ is coming. It’s a new approach to MarTech for B2B Marketers.
#MarTech #DigitalMarketing