What CMOs Need to Know About Marketing Technology

September 11, 2015 James Thomas

What CMOs Need to Know About Marketing TechnologyIt can be hard for chief marketing officers to keep up with marketing technology. It’s constantly changing and developing, and #martech companies are always looking for new solutions to address marketers’ needs. But keeping up with what’s new can ensure your organization stays ahead of the trends and takes advantage of marketing technology’s versatility and capabilities.

The articles below look at some of the ways companies are using marketing technology, what’s holding others back, and what’s in the future for CMOs.

7 Secrets Of Successful Analytics-Driven Marketers. Forbes: “Asking the right questions means being more exacting about how you approach marketing measurement, and braver about what you’ll do with your learnings. Generally you should start by asking what, exactly, you are solving for. [One] key quotes from [an] award winning marketer: ‘If you can’t measure the outcome, you need to ask yourself if you should be doing this at all.’”

4 Reasons Why Marketers Resist New MarTech Adoption. Business2Community: “Nobody likes change, and no busy person wants to add more work to their already busy schedule. Introducing new platforms requires changes in processes that have had hundreds, if not thousands, of man hours invested in them to make them as smooth as humanly possible. This often requires a team from the software provider comes in to help with onboarding and implementation. The process for some larger companies can take weeks to months. Not only are processes changing, but the affected team is also required to learn how to keep the new system running, with the added pressure of needing to make sure no mistakes occur.”

How Far Along Is B2B Marketing Tech Adoption? Emarketer: “In August 2015 research by Ascend2, less than one-third of B2B marketing professionals worldwide said marketing technology was significantly improving marketing performance. While still impressive, this emphasizes the huge room for growth among the 55% who said it was improving marginally and 13% who said it wasn’t changing.”

Four Key Data Trends Affecting the Digital Marketing Industry. Econsultancy: “This falls into two areas. Firstly the capability to utilize the data and manage it. From an organizational perspective who does that sit with — IT or maybe marketing — and also when you get into the marketing mix do you outsource this or in-house it? How much power do we really want to give over to our media agencies? It’s our data and it’s very valuable, so surely we should have this in-house. There’s a lot of different thinking going on around where data should live and how we should resource against it.”

CMOs Will Increase Spending on Social, Mobile And Analytics. Ad Age: “Another area that is seeing a big increase in spending is marketing analytics, which currently makes up 6.7% of the total marketing budget, but is expected to grow to 11.1% of the total marketing budget in three years. ‘One of the challenges CMOs face is using all this sophisticated information to drive decisions,’ said Christine Moorman, professor at Duke University’s Fuqua School of Business and director of the CMO Survey. ‘It’s not just about getting the right data, but managing the processes and capabilities, and bringing marketing analytics into decision-making.’”

The post What CMOs Need to Know About Marketing Technology appeared first on Allocadia.

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