How CMOs Can Leverage MarTech for Success: 54 Expert Tips on Getting More from MarTech
Marketing technology, affectionately known by many as “MarTech,” is the umbrella term encompassing the plethora of tools and platforms that exist to support or automate marketing functions. Being that we’re in the midst of the digital age in which there are dozens of different marketing channels, it’s no surprise that the martech industry is in a period of rapid growth.
While the proliferation of martech is a good thing on the surface, CMOs face challenges in evaluating and comparing dozens of different tools that support a specific function, building a marketing technology stack with seamless integration across channels, and handling the plethora of data generated by these tools. What’s more, CMOs are under pressure to prove ROI for every function and investment, so devising processes for evaluating individual technologies and measuring the impact each tool has on marketing results is yet another demand placed on the modern CMO.
So how can CMOs streamline implementation and maximize the impact of new technology, without introducing undesirable consequences such as data overload or too much demand on IT resources? We’ve searched the far corners of the web to glean insights and tips from leading marketing professionals and thought leaders to create this comprehensive guide for the modern CMO, aiming to address that very question: How can modern CMOs best leverage martech for success?
Categories (click a link below to jump to a section):
- How to Maximize Your MarTech Investment
- Leveraging Data for Marketing Success
- Building a Killer MarTech Stack
- Influences: MarTech and the Role of the CMO
How to Maximize Your MarTech Investment
1. CMOs must play nice with CTOs. “The CMO and CTO must plan how technology will be implemented, used, and maintained. For instance, a CMO might not have the development talent to launch and run an enterprise marketing cloud. The CTO can find the developers within the IT department who are best able to do that job. In essence, the CMO knows how martech should function; the CTO knows how to make it function.
“Ultimately, yes, CMOs will become tech-savvy enough to play CTO within their own department. In the meantime, CMOs are hiring chief marketing technology officers to manage the martech stack, hire technical talent for marketing, and serve as interlocutor between marketing and IT. These martech specialists are the next generation of CMOs.” – Matt Goddard, Batman V Superman: Why The CMO-CTO Relationship Must Change, CMO.com; Twitter: @cmo_com
2. Set realistic benchmarks and objectives while measuring ROI of any martech investment. “While trial-and-error is part of any marketer’s job, data-inspired marketers are incorporating metrics from years prior to help determine which programs are increasing revenue — and which programs are resulting in wasted dollars. CRM expert Bonnie Crater suggests combining both company metrics and industry data to set realistic benchmarks. Data also allows marketers to focus on segments with the highest conversion rate, so marketing dollars are prioritized by groups that are most likely to convert. In an AdAge article titled ‘How Data Convinced West Virginia To Triple Its Tourism Budget,’ the tourism department in West Virginia was able to show an ROI of $7 for every $1 spent on tourism by using both survey data and mobile data to prove that their ad dollars were having a direct impact on driving new tourists. By crafting family activity oriented messages to Ohioans, but outdoorsy messages to those in metro areas like DC, they were able to see 62% conversion rates on specific email campaigns. Due to the success of their data backed ‘Real. Wild, Wonderful West Virginia’ campaign, their tourism budget tripled.” – Lisa Pearson, Why Everyone Wins When CMOs Use Data to Prove ROI, Umbel; Twitter: @Umbel
3. Collaborate with IT to determine what’s possible. “According to Gartner, ‘B2B sellers that incorporate personalization into digital commerce will realize revenue increases up to 15%.’ Gartner elaborates:
“‘Companies that incorporate personalization into B2B digital commerce strategies will make their business customers more efficient, provide a better customer experience and increase the likelihood of greater purchase value as well as upselling and cross-selling — all leading to greater revenue.’
“But these improved business outcomes won’t happen in a vacuum. Marketers need to work with IT to define ‘what’s possible’ so that organizations can figure out what (and how) to implement personalization programs. Within the company, the IT team has the most central view of all technology and data management processes. This perspective is essential to a long-term, high performing marketing strategy.
“IT will ensure that a martech strategy is well-integrated into the entire organization. The end result will be more effective campaigns, better targeting, and a high-performing personalization program.” – Ritika Puri, What IT Leaders Should Know About Personalization, Evergage; Twitter: @Evergage
4. Invest in technology that helps you understand your buyers, improve brand perception, and increase loyalty across the buyer’s journey. “As the Leapfrog survey revealed, marketing executives are strongly concerned with understanding their buyers, and this is not the first time data has cited these CMO initiatives.
“The ‘Path to 2020’ report from Marketo and The Economist Intelligence Unit recently discovered that 86 percent of CMOs believe they will own the end-to-end customer experience by 2020. In this report, improving brand perception and increasing customer loyalty were the top two goals of CMOs focusing on the customer experience.” – Krystle Vermes, CMOs Seek to Better Understand Marketing’s Link to the Customer Journey, KoMarketing; Twitter: @KoMarketing
5. Seek to replace complex technology stacks with a single source of truth, or at least minimize the number of tools utilized to achieve the same results. “Scott Brinker is the Program Chair of the MarTech Conference and as the Keynote Speaker he started off the conference by showing us just how noisy the marketing technology landscape has become. There are now over 3,500 companies in the MarTech space, with many organizations using upwards of 40 to 50 technologies in their marketing stack.
“That may seem like a lot, and for some companies it is. But keep in mind that a SaaS based platform, like Bynder, is in a constant state of development. Your company may be working with four or five disparate systems that can be replaced with one central truth. That’s not to say that you can reduce your marketing stack from 40 to 50 platforms down to five or six, but often times with a little research there is a more efficient, flexible and cost effective technology available.” – Whitney Harmel, Top 3 Themes from the 2016 MarTech Conference, Brandobility; Twitter: @brandobility
6. Partner and collaborate with other executives and leaders across the company to foster innovation. “Jeffrey Fleischman, senior vice president, and chief marketing and digital officer with The Penn Mutual Life Insurance Company, says it’s more important than ever for marketers to be good corporate partners. “All roads cross through marketing and digital, so it’s important to work collaboratively across the company,” he says. “We work with product, distribution, and technology to bring it all together in order to create and execute a strategy to grow our business.”
“Synchrony Financial established what it calls three ‘innovation stations,’ or cross-functional teams that work together to achieve ‘rapid, customer-centered solutions,’ according to Toni White, the company’s CMO. ‘We have teams focusing on areas like mobile, data, and emerging technology. The biggest benefit has been to create an environment that fosters innovation and collaboration and ensures we have teams focused on delivering for our customers and exploring emerging technology to position us for the future.'” – James A. Martin, 10 things that keep CMOs up at night, CIO; Twitter: @CIOonline
7. It’s not necessary to choose between analytics and customer experience; the key is to leverage both to create a continuous cycle of valuable insights that drive decision-making. “The bridge that crosses the analytics gap isn’t going to be built by digging our heels into the digital mud and going deeper into the numbers. It’s going to be built on the value of the customer experience.
“The perception of marketing is going to shift. While analytics are still going to be useful, crunching numbers will only get us so far. Key drivers are going to be more experience-based rather than data-based. Things like:
- Managing customer expectations over their entire lifecycle and not just the acquisition process
- Measuring customer engagement, not just counting how many customers you’ve gotten
- Cultivating and nurturing customer relationships rather than passing them off to sales and hoping for the best
- Quickly and fully resolving customer issues before they grow and fester on social media
“As you can see, these are intangible things that analytics simply cannot measure. But analytics can tell us which channels open the door to drive these types of experiences. So it’s not about choosing sides – analytics or customer experience – but leveraging both in such a way that they form a continuous cycle of clear insights that forge a path for the next sales cycle and beyond.” – Sherice Jacob, Understanding The Great Analytics Gap (and What to Do About It), Kissmetrics; Twitter: @Kissmetrics
8. Establish the validity of your metrics. “Metrics must be vetted to ensure they are valid—meaning they measure what they are designed to measure. For example, at what point should marketers classify a consumer’s interaction with a company on social media as ‘engagement’? Is it when a consumer likes or shares a post? Proving metrics requires linkages to key outcomes, customer interviews, and managerial judgment.” – Becky Ross and Shannon Gorman, Measuring the Impact of Social Media on Your Business, The CMO Survey; Twitter: @chrismoorman
9. Scale today to prepare for tomorrow. “The breakneck speed at which CMOs have had to evolve over the last 5-10 years has not always allowed enough time to step back and consider future needs. As a result, CMOs feel intense pressure to catch up – no matter how advanced their marketing strategy might be. How do you identify and advocate for the next step up on the ladder to enhance your teams and technology?
“How to Overcome: Start the discovery now to build the skills and structures of tomorrow. Whether that’s establishing an innovation team within your marketing organization, or building the right marketing dashboards to give you more visibility into market trends and opportunities, waiting is no longer an option.” – Rachel Truair, How CMOs Can Overcome 3 Key Challenges, Oracle; Twitter: @OracleMktgCloud
10. Build a martech strategy that encompasses digital marketing functions, data sources, and touch points to unify previously siloed marketing functions and applications. “Tealium advises chief marketers to architect a comprehensive ‘martech’ strategy that fully integrates all digital marketing functions, data sources and customer touchpoints. By unifying siloed marketing applications, marketers have a much more robust view of their customers and can drive more personalized and impactful experiences that convert visitors into consumers.
“‘Most CMOs are unaware of how many digital marketing solutions they are using, and a majority have not defined a coherent and comprehensive marketing technology strategy or a path forward,’ adds Tracy Hansen, Chief Marketing Officer for Tealium. ‘Embracing a unified marketing model generates measurable ROI and improved economics; category innovators and best-practice leaders prove this belief time and again.’
- Technology is now an essential part of the modern marketing strategy, but the rapid increase in technology options is causing problems—applications and customer data are more fragmented than ever.
- Most CMOs do not have an end-to-end marketing technology strategy; those who do are likely to contribute more to overall revenue, ROI, customer engagement, etc.
- CMOs who own the marketing technology strategy have greater business impact than CMOS who delegate the responsibility.
- CMOs who successfully manage and integrate technology are achieving measurable business and operational gains on their investments (greater returns, smarter spend, less resources, process efficiency, speed to market, reduced costs, greater revenue, etc.).
- CMOs who are good at integrating marketing technologies are seeing better business upside (more visitors, customer acquisitions, conversions, transactions, retention, upsell/cross-sell, repeat purchase, affinity, etc.).
- CMOS who have successfully integrated their technologies are achieving measurable improvements in personalizing customer interactions and delivering better customer experiences across all digital channels.
- The most successful companies have a comprehensive marketing technology strategy and are taking steps to better deploy, manage and integrate their technologies, end-to-end.
- The most successful companies extend their marketing technology beyond marketing to include sales, product development, etc., and they generate a significantly higher business impact.” – CMOs Challenged by Marketing Technology Sprawl and the Need to Unify Data from Siloed Digital Apps, The CMO Council; Twitter: @CMO_Council
11. Investing in technology alone does not produce results. Organizations need the expertise required to translate raw data into actionable insights and use existing tools to their fullest potential to maximize technology investments. “According to January 2016 research from Real Story Group, many executives believe their companies are not fully using their marketing technology investments. Executives in Real Story Group’s survey were split as to whether their organizations had the right marketing technology tools, with 47% agreeing and 47% disagreeing. Executive opinion was also split as to whether their firms had the necessary internal expertise to process the data produced by such marketing technology efforts, with opinion once again tied at 49% agree and 49% disagree.
“This concern surrounding the lack of internal knowledge about marketing technology also translates into executive doubts as to whether businesses are using such software to its fullest potential. When asking marketing technology practitioners if they were leveraging the full potential of purchased technology, 61% either mostly or somewhat disagreed with the statement.” – Marketers Struggle to Balance Marketing Technology Tools and Talent, eMarketer; Twitter: @eMarketer
12. Fast-moving companies adopt multiple marketing technologies. “It was fascinating to learn from the larger, more mature organizations leveraging 20 or more technologies in their marketing stack. However, based on the questions and my interaction with other participants, the mid-market (i.e. smaller organizations) is still struggling to get WCMS and marketing automation tools fully operational and useful. I expect that this gap will continue and that smaller organizations will have a much slower pace of adoption. It is clear that the fast-moving companies are adopting multiple marketing technologies.” – Steve Walker, MarTech 2016 – Industry Grows as the Mid-market Lags Behind, Spark!; Twitter: @Experis_GCS
13. Adopt technology in incremental steps. “It can be tempting to make a rapid switch from old, dated email systems to a shiny new marketing automation platform. But even with the most agile team, it’s best to adopt an incremental approach. True – keeping old systems in place while you transition over to marketing automation can involve a slightly longer timeline to complete alignment. But this approach gives your team a chance to learn your new solution as thoroughly as possible without worrying that they don’t have a safety net of something they know while mastering new marketing automation skills.
“Companies rarely benchmark like they should, and end up abandoning their old platform so they can begin from scratch. But success can’t be defined if you don’t know where you started, so aim to pull at least the following three key metrics before you trash the old system:
- Lead Velocity w/in the Full Revenue Model
- Cost per Net New Lead Acquisition by channel
- MQL to SQL conversion rates
“If you have these three, good. You have something to work with. If you can’t pull these currently, make sure you know how you will capture them in the new process you devise.
“When transitioning your campaigns, start with improvements that are simple and easy to measure. If you would previously have conducted a generic blast campaign, create two or three targeted messages for a few defined segments. Try switching elements to utilize different system features like landing pages, or test out enhancements for a lead nurturing campaign. By making strategic changes at regular intervals, your data will begin to tell a meaningful story about your customers.” – Chad Koskie, So, You Bought Marketing Automation: Now What?, LeadMD; Twitter: @myleadmd
14. Logistics plays a key role in tying a martech stack together to drive the customer experience for product-based companies. “Omni-Channel is the phenomena driving the need for fully integrated, flexible and rapid logistics solutions across all shopping platforms, and all delivery modes. In the past, other than straight e-commerce order and deliver, logistics was more of a backroom function not as directly tied to the immediate customer experience.
“Going forward based on the growing complexity and multiplicity of delivery options reviewed in my post ‘Emerging Options for Omni-Commerce Logistics Strategy‘, all physical services and required support systems for the selected omni-channel service options will need to be in place to provide seamless forward and reverse logistics services to end customers.
“Supporting all of this will require fully integrated, accurate and almost real time updated inventory and order management systems, which depending on who you speak with, cannot be successfully accomplished without item level RFID (Radio Frequency IDentification) of all inventory items. Providing such an integrated retail supply chain and combined real/virtual Endless Store shopping environment will only come to those who embrace the Future of Retail as an Omni-Channel Internet of Things.” – Jeff Ashcroft, Logistics is the new black!, LinkedIn; Twitter: @JeffAshcroft
15. Avoid redundancies with a clear-cut martech strategy. “Today, a diverse pool of technology is available for marketers to leverage and propel marketing practices. It must however be borne in mind that technology can be beneficial only if there is a well chalked-out plan to optimally leverage it, be it in marketing or any other industry. So, marketing heads really need to have a solid strategy before investing on any technology.
“A robust strategy should clearly define:
- Marketing objectives
- Targeted audience segments
- Customer engagement channels
- Tone of voice for communication and offers
- Type of content
- Extent of personalization
- Measurement parameters
- Applicable business rules
“Only with a well-planned strategy can marketers ensure that they are investing on the most relevant technologies. Or else, they run the risk of redundancy and sub-optimal utilization of resources.” – Rohit Roy, 3 Tips To Gain The Most Out Of Your Marketing Technology Investment, MarTech Advisor; Twitter: @MarTechAdvisor
16. Analyze your current technology to identify gaps, and determine if you have the skills and resources to effectively manage and maximize new initiatives. “Conduct an internal audit to understand which applications you have licensed and how you are using them. Are they contributing to the bottom line in a significant way? What’s missing, and what can be cut or improved upon? Is it time, for example, to upgrade to a more scalable marketing automation solution?
“One key consideration that some marketers overlook: Do you have the resources and expertise to properly manage and maximize each initiative?” – Erik Bratt, Why You Need A Marketing Technology Strategy, MarketingLand; Twitter: @erikbratt
17. Experimentation is necessary for growth and results, yet it requires embracing some degree of risk, which is uncomfortable for many. “The smart and savvy marketers, Pam Moore and Ken Burbary were also at Summit as insiders, and the three of us had a fun and fascinating dinner where the topic turned to this issue:
“Why, when they have at their disposal technology that is easy(ish) and affordable(ish) do so many companies still rely on techniques and tactics that clearly do not meet the test of great customer experience?
“I believe it’s because for premise of personalized customer journeys and 1:1 marketing to take root, brands must commit to experimentation. And experimentation requires an appetite for risk that most brands do not have because it’s not culturally acceptable to fail…
“Technology is outstripping our ability to adopt it because the pace of change on the software side is so much faster than the pace of change on the organizational and corporate culture side.
“For us to be able to actually harness the power of experience-led businesses, we need to focus as much on the wizard as on the wand.
“Any meaningful improvement in customer experience through marketing tech must start first in the heart, and then move to the head. If your organization doesn’t really and truly believe at the molecular level that customer experience is transformative, you’ll never embrace the risk enough to reap the reward.” – Jay Baer, Why Most Companies Can’t Yet Handle Great Marketing Technology, Convince & Convert; Twitter: @convince
Leveraging Data for Marketing Success
18. Shift the focus to performance metrics and performance-led technology that drives ROI. “Technology spend by CMOs will increase 10X in the next 10 years, to $120 billion from $12 billion, according to Foundation Capital.
“Marketing technology and intelligence that are utilized and implemented correctly can have a massive impact on the CMO’s bottom line.
“CMOs who work at the heart of the enterprise face a common challenge of navigating through a complex, fragmented and overcrowded technology landscape — a landscape where many vendors focus on production, automation and process and pay little attention to performance-led technology that moves the needle on ROI (return on investment).
“CMOs who begin to build digital marketing stacks — based on enterprise-standard technology to fill the ‘digital performance gap‘ — and empower their organizations to run digital and content marketing based on performance metrics will succeed in comparison to their competitors in market.” – Jim Yu, The Modern-Day CMO: 7 Trends That Will Drive Digital Marketing Success, Marketing Land; Twitter: @jimyu
19. Marketing improves with better data, but when it comes to data, there is such a thing as too much of a good thing. “Customer data means better marketing, but if you have too much data, you can’t actually do anything with it; and some of it is just not actionable. The CMO Club found that 85% of CMOs say that their lack of access to data is preventing them from implementing a true cross-channel marketing strategy. That’s a huge missed opportunity.
“There are technology solutions for this that marketers can use to leverage the right data to communicate with customers and prospects on a one to one basis. What is critical for marketers to understand is that it’s not the quality of data that is vital to your digital marketing campaign’s success, but the insights you can derive from it.
“Using the right martech tools to comb through data and serve appropriate insights and content are critical to the success of your digital marketing campaign because:
- These early interactions show prospects that your brand really understands their needs and sets the tone for the future relationship.
- You can get a more rounded picture of who your customers are, where their interests lie and what products and services they may be interested in.
- You can get a better grip on which marketing channels are likely to prove most effective. Should a campaign use social media, TV, digital, radio, or a combination of all these mediums?” – Hanna Huffman, Why the Success of Your Digital Marketing Campaign Depends on Martech, LinkedIn; Twitter: @HuffmanHanna
20. Utilizing tools that turn unstructured data into actionable information has major performance benefits. “Because CMOs are being tasked with procuring technology, it is in their interest to become tightly aligned with IT and business intelligence within companies. Gaining access to resources that can help tame unstructured data and turn it into usable information is crucial for producing effective work.
“Not surprisingly, the results showed companies that are high performing outpace their low performing peers in data and analytics:
- 64% compared to 33% for data accessible across the organization
- 59% to 12% for tools and expertise to work with unstructured real-time data
- 52% to 23% for self-serve analytics capabilities
“All of these categories are areas where CMOs and the marketing department can make a difference. Digital marketing channels produce a plethora of data. Simply creating reports that are widely available across the company on campaigns and those results lets the entire company know what marketing is contributing on an ongoing basis.” – David Kirkpatrick, Why marketing executives need to take the lead with data, Marketing Dive; Twitter: @marketingdive
21. Make data accessible across the organization. “Beyond better talent practices and more active CEO involvement, executives at high-performing companies report other practices that differentiate their analytics activities. Most executives—including three-quarters of those at low-performing companies—say their organizations have established some analytics capabilities. However, the high performers report significantly more advanced capabilities across the board. They are, for example, nearly five times likelier than their low-performing peers to say they have tools and expertise to work with unstructured and real-time data. And they are nearly twice as likely to say they make data accessible across their organizations.” – Brad Brown and Josh Gottlieb, The need to lead in data and analytics, McKinsey & Company; Twitter: @McKinsey
22. Data enables marketers to have individual relationships with prospects and customers at mass scale. “At the highest level, I see the death of marketing and advertising as we know it. A world of creative mass advertising is turning into a world of deep individual relationships, in what we call engagement marketing. This is all being driven by changes in the way we live, in the technologies available to us — this crazy digital, social, mobile explosion of devices and access points with the Internet of Things. Every organization needs to fundamentally rethink how they interact with consumers and customers. It’s a consumer-led era.
“The good news is, the same trends driving this power shift to consumers are also giving us the capabilities to actually succeed in having the conversation with the consumer. It has everything to do with the data, with being able to orchestrate conversations at mass scale. Amazon has been the harbinger for this. They’ve spent 15 years and billions of dollars figuring out how to have an individual relationship at mass scale across different channels, how to just talk to me about things that I care about and not the other thousands of things they could talk about.” – Sanjay Dholakia, Marketo CMO, as quoted by Tom Kaneshige in Marketo’s CMO on the future of marketing, CIO; Twitter: @CIOonline
23. Consider hiring a Chief Data Officer (CDO) to oversee and lead efforts to utilize data to engage customers, inform new product development, and measure performance. “The data revolution is in full swing. According to Deloitte, ‘The control of processes and systems handling, dealing with and exploiting that data is no longer a ‘nice to have’ but is now becoming a ‘must have’ to contain associated costs within reasonable limits.’
“Companies with data in their DNA seem likely to experience even greater ROI if they nominate a Data Czar–someone to control the data collection and management protocol. For those companies lagging behind, but ready to catch up, it may require making room at the executive table for a Chief Data Officer.” – Brent Summers, The Rise of the Chief Data Officer, Segment; Twitter: @brentsummers
24. In today’s highly competitive atmosphere, it’s critical for enterprises to have complete clarity on precisely who their customers are on an individual level. “Be crystal clear about who your target consumer is. Instead of trying to appeal to the generic “consumer,” companies should define whom exactly they are targeting. The most sophisticated companies gain a thorough understanding of the various consumer segments and microsegments, and the factors that drive buying behavior in each: What attributes does each microsegment value the most in a specific product? What will they pay for and what don’t they care about? How often do they purchase a product? How much do they spend on the category per year? Delving into these questions requires gathering data from multiple sources (including point-of-sale transactions, consumer research, and social media) and harnessing the power of advanced analytics. Companies can then develop tailored value propositions for each of their target segments.” – Max Magni, Anne Martinez, and Rukhshana Motiwala, Saving, scrimping, and … splurging? New insights into consumer behavior, McKinsey; Twitter: @McKinsey
25. Account-based marketing and predictive marketing are an ideal combination. “By combining ABM with predictive marketing, you can actually target the right accounts with much more precision. Predicative marketing is the first step to becoming an account based marketing organization. Because predictive demand generation uses data to predict the best accounts to target, your ABM efforts become much more focused and effective.
“Since predictive can be such a complimentary solution to ABM, we also wanted to take a look at how those leveraging ABM are thinking about predictive marketing.
“Out of the marketers who are currently utilizing ABM, 80% believe that predictive marketing is a critical piece of the future marketing stack.
“Combining the two strategies can be your key to success! Particularly if your organization is moving towards becoming account-based.” – Rachel Lefkowitz, 80% of Marketers Using Account-Based Marketing Believe that Predictive Marketing is a Critical Piece of the MarTech Stack, EverString; Twitter: @everstring
26. Know which digital channels influence the path to purchase. “Answering these questions is not easy, because the customer journey is getting more complex all the time.
“Customers won’t just use one channel before purchasing. They’re interacting across various touch-points, and there’s a blurring of the lines between many popular channels that makes it increasingly difficult to track.
“In order to figure this out, we can start with a simple gap analysis.
“Google’s The Customer Journey to Online Purchase tool can help you figure out how different digital channels influence your customer’s path to purchases.” – How to Fix Your “Customer Journey” to Solve Sales, Codeless; Twitter: @CodelessInt
27. Automate reporting with dashboards and other tools that offer time-saving analysis capabilities. “CRM (23%), Business Intelligence (15%) and marketing dashboards (13%) are the three most common technologies used for compiling and presenting marketing results. 20% or one in five marketers are using spreadsheets to compile and report results. Automating reporting and getting away from manually updating spreadsheets is a great way to save time and accomplish more.” – Louis Columbus, 2016 Marketing Technology Update, Forbes; Twitter: @LouisColumbus
28. Choose an evaluation method that makes sense for your martech stack and business goals. “Time to become a teacher. Evaluating martech is like grading a homework assignment. There should be a threshold for passing and a clear way to tell the difference between an A grade and C grade.
“This part is up to you. You can choose more quantitative or qualitative evaluation methods, but either way you should be clear in your thinking on what you consider passing or failing.
“With this in mind, choose the best evaluation method to fit your needs.
“Choosing the best method is more of an art. But the foundation of any skill is common sense. In this case, common sense goes a long way in choosing a good evaluation method.
“For example, if you care that a certain tool is saving your team time and money, then you’d choose a more quantitative evaluation method like a cost/benefit analysis. You’d attach a dollar amount to the time saved (the benefit) and compare whether it’s more than the cost of the tool. If it’s ROI positive then you know that the tool does as it is suppose to: save you time and money.
“Other marketing technology of interest may not lend itself perfectly to a quantitative method. A great example of this is marketing analytics tools where process and advances in knowledge is more important.
“Analytics tools help you understand the customer or understand how different campaigns perform, so you can replicate what’s working and address what’s not working.
“These tools lend themselves well to looking at the impact of the tool. What does it enable you to do? What would happen if the tool were to suddenly disappear, would it have a major or minor impact? Choosing to do an impact analysis is ideal in this situation.
“By thinking critically about the purpose and impact of the marketing technology, you are sure to gain a better understanding of the value of the tool. You’ll become an expert technology consultant.” – Andrew Nguyen, How To Become The Marketing Technology Expert, Core Competencies Of The Marketing Operations Leader [pt. 2 of 4], Business2Community; Twitter: @B2Community
Building a Killer MarTech Stack
29. Consider adding Marketing Performance Management (MPM) software to your MarTech stack. “Marketing performance management software is a newer addition to the martech stack than CRM and MAP, but an important development as it provides features that help you further leverage your technology investments.
“A marketing performance management platform will integrate with each of your marketing technology products – not just your CRM and marketing automation software, but also the software you use for things like project management, budget tracking, social listening and SEO – and bring all the data you have into one comprehensive marketing dashboard that makes it possible to see how everything relates.
“It provides one centralized place to do your marketing planning and track your budget and results so that you can begin drawing a clear line between specific marketing campaigns and activities and the revenue they generate. Connecting the data you have back to your actions and the goals they’re meant to achieve makes it possible to finally see what’s really working in real-time, so you can update your marketing plan and predict results.” – Munira Fareed, The Martech Stack that Drives Successful Data-Driven Marketing, Hive9; Twitter: @HiveNine
30. Most companies employ several technologies and mix vendors to build a customized stack that integrates as seamlessly as possible. “Many companies have multiple platforms in their marketing technology stacks. It’s not unusual for them to have one vendor for their web experience platform, a different one for their marketing automation platform, another for the CRM, and so on.
“This has become more viable for two reasons:
- Almost every vendor in the space has invested engineering resources in making it easy (or at least easier) to integrate with the rest of the marketing technology ecosystem. Most marketing tech products now come with plug-and-play support for the major CRM and marketing automation platforms.
- The category of products known as iPaaS (integration-platforms-as-a-service) — along with new generations of tag management and other “marketing middleware” solutions — has grown significantly, making it easier to connect most or all of an organization’s marketing technology to a common data exchange backbone.” – Scott Brinker, Marketing Technology Landscape Supergraphic (2016), Chief MarTec; Twitter: @chiefmartec
31. All-in-one stack solutions are the CMO’s ideal, yet many organizations find that multiple single-point solutions can be better configured and integrated to meet unique needs. “A stack solution brings together what would otherwise be disparate single-point solutions into one program.
“This uber-system may be the silver bullet that marketers have been looking for — one program, one training, and one place that organizes various assets, plans, and metrics. Practically speaking, however, one size doesn’t always fit all, and CMOs and their staffs often have nuanced, constantly evolving needs that may be better served by one-off or single-point solutions.
“Ultimately, CMOs will define what they need in a marketing stack and usher in a system-wide approach to driving technology into marketing. This kind of top-down approach will happen simultaneously with the adoption of single-point solutions. At its core, the all-in-one promise of the stack is what everyone wants, but finding the best fit for a range of needs presents a much larger challenge than do the (relatively) simpler single-point solutions.
“As the various implementations and experiments in single-point and stack solutions evolve over the next 12 months, a clear winner may emerge, but it’s far too early to tell. The startups we work with are actively looking to remove the pain points between single-point and stack solutions, and we’re continuously learning from CMOs about what types of solutions best serve their needs.” – Scott Brinker, 5 big martech challenges that marketers will face in 2016, ChiefMartec.com; Twitter: @chiefmartec
32. Conduct internal research to discover mission-critical technology needs, how existing technologies connect and overlap, and other insights that reveal opportunities for leveraging martech. “Discovery is the first step. I start by asking standard questions that become more customized based on the answers. In my experience, most CMOs, marketing execs and marketing ops team members often must do their own internal research to identify answers to some questions; so this list should come in useful for this phase of blueprint development:
- What are all the technologies used by marketing?
- How do they align, connect, and overlap?
- Is the flow of data automated or manual (for example, do you have to upload data or is it submitted via APIs)?
- Which are the mission-critical pieces of software (that is, what technologies couldn’t you do business without)?
- Which technologies are complementary to mission-critical technologies?
- Which tech components are you willing to replace? (Answers to this question usually change substantially after the blueprint is created)
- Which technologies are legacy (internal) systems and which are vendor sourced?” – Kyle Gale, MarTech Success #3: Creating A MarTech Blueprint, Integrate; Twitter: @KyleGale
33. While collaboration with IT is essential, seek tools that do not create over-reliance on IT for day-to-day operations. “One issue that often hinders adoption of new analytical tools is that many platforms being implemented are heavily dependent on IT for day-to-day operations.
“If marketing managers need to bother overworked IT teams to get answers to specific business questions, the process becomes cumbersome and the marketers (who should be the foremost consumers of these BI systems) quickly lose interest.
“Unsurprisingly, this process has a negative effect on adoption.
“This problem exists in companies that use legacy systems, which typically require a team of specialists (developers or external consultants) to create new reports or facilitate the addition of new data sources.
“However, even some of the more modern ‘data discovery’ tools, which are often touted as self-service, can also turn out to be extremely IT-centric in complex data scenarios. Moreover, since data discovery tools are focused on providing a quick fix, they are generally not built to handle Big Data coming from multiple sources—which many marketers deal with today, considering the abundance of digital platforms (Adwords, social media, etc.).
“An attempt to solve the complex data problem often leads to a new issue being created.” – Saar Bittner, Why Marketers Are Lagging in Their Adoption of New Analytical Tools, MarketingProfs; Twitter: @MarketingProfs
34. Investments in marketing signal measurement can help to eliminate silos and provide a holistic view to answer key questions and inform decision-making. “Several digital marketing elements are still not being delivered on – these include holistic, timely, context, cross-channel visibility, and execution. Modern digital marketing largely revolves around the ability to leverage data to make never-made-before decisions. Especially while working with big brands, the rate of change and complexity of digital marketing poses obstacles. The following two points make it difficult for marketers to understand current happenings and answer the question – ‘What happened today?’
- Firstly, an ecosystem of data silos has been created by digital marketing. Every marketing firm uses various marketing platforms and services like email services, advertising networks, social platforms, etc.; and each of these platforms and services ends up creating a data silo.
- Secondly, the volume of marketing signals sent/received on a daily basis is huge. Each time users interact with marketing assets either by ‘liking’ a social post/message, watching a video, or even by clicking a search ad or on a website; a certain signal is sent out.
“The ultimate objective is to successfully measure all these marketing signals across different silos and convert them into insights. This is where the aspect of timeliness becomes particularly important. Without access to insights in a timely way, marketing organizations cannot make decisions quickly while campaigns are running, and this adversely impacts their ability to maximize business results. However, addressing the question – ‘What happened today?’ – still remains a realistic target for marketers. To achieve this, marketers must begin with a clear focus on measuring marketing signals, which can be described as harvesting, refining, and analyzing all the information that flows in from varied platforms and systems. Following this, insights must be activated from these signals through notifications, dashboards, alerts, etc. The most crucial element is to have a robust measurement foundation in place. Measurement of marketing signals ultimately empowers marketers to achieve the objective of knowing what happens on a day-to-day basis. As far as the near-term is concerned, brands can standardize their signal measurement activities in a timely, automated, and holistic way. What lies ahead: Currently, an exciting phase is setting in the evolution of data-driven marketing. By wisely investing in marketing signal measurement, several well-known global brands that have been managing global digital marketing for a long time, have now come to realize the true promise that data-driven marketing really holds. They can understand, every single day, what is going on across their marketing activities, allowing them to continuously enhance performance and achieve better, more exhaustive business outcomes.” – Rohit Roy, How Modern Marketers Can Leverage Data to Gain Actionable Insights, MarTech Advisor; Twitter: @MarTechAdvisor
35. With the demand for integration, marketing as-a-service platforms are emerging. “While innovation continues, the era of consolidation has begun. Many acquisitions have been made by software industry majors to bring together key pieces of the marketing and advertising software landscape. This activity has been coincident with the transformation of the larger IT industry to what IDC calls the 3rd Platform where technology and maintenance services are offered ‘as a service.’ This model is a game changer for marketers and marketing software suppliers. Even though almost all current marketing solutions are cloud based, they are just beginning to be integrated enough to provide seamless operations and reporting across the diverse activities of a large marketing organization. Furthermore, newer platform solutions can be leveraged by third parties such as agencies and marketing BPOs to provide value-added services in a bundled offering, which IDC calls ‘marketing as a service.'” – Gerry Murray, IDC’s Worldwide Marketing Technology 2014-2018 Forecast: $20 Billion and Growing Fast, Technology Marketing Blog; Twitter: @IDC
36. The specific tools you use don’t really matter, as long as they’re fully utilized and scaled appropriately to your organization. “Marketing Technology is about maximizing your technology stack. The tools you use in your stack don’t really matter as long as they’re scaled for your organization. If you’re an enterprise organization then the tools in your stack will need to cater towards a large organization’s needs and vice versa. The tools just need the ability to meet your needs. Organizations outgrow tools all the time which may require advancement or replacement.
“Questions to ask when choosing your tools:
- Will to tool address or solve a major issue in my organization?
- Can the tool scale with my organization?
- Will the tool advance my understanding of my customers?
- Does the tool do everything I need or are there constraints my team can’t work with?” – Kayla Merritt, What is Marketing Technology? And Why Do You People Keep Screaming It At Me?, Arke; Twitter: @ArkeSystems
37. Home-grown martech tools may seem like a viable option, yet they create many challenges for enterprises. “Many companies decide to use homegrown tools because they are a known entity and provide a less-costly, less-risky option in the short term versus newer, untested tools. However, in the long term organizations that string together an assortment of tools will likely be challenged by data portability, interoperability and most importantly, the ability to compete in an increasingly competitive, always-on digital world. In this vein, a single data-driven source of the truth will be critical for intelligent, people-based marketing.
“While martech directly benefits CMOs and their teams, deploying a unified martech stack can provide benefits to other business units:
- Marketing as an extension of sales — improves communication between known customers, prospects and suspects
- Marketing as an extension of customer service — messages smarter based on understanding customer
- Marketing as an extension of R&D — identifies needs sooner by enabling dialog with customers and prospects” – Seth Ulinski, Dark martech: the great mass of homegrown marketing technology, Chief Martec; Twitter: @Seth_TBR
38. Companies that build comprehensive, deep martech stacks are better able to understand the unique relationships they have with their customers, but having the marketing talent to derive the best uses for technology is the defining factor. “Interestingly, the companies that are leading the investment in, and deriving results from, deep marketing stacks most often don’t come from the ranks of the Fortune 1000. Instead, it’s often emerging, rapidly growing businesses that are leveraging the available toolsets to build broad marketing stacks, sometimes involving more than 20 applications. And they are seeing the benefits. In a recent interview Bill Macaitis, CMO of Slack, emphasized the importance the right technology stack to create and deliver a great customer experience.
“Today’s CMOs need people within marketing who can think creatively about how to use software and data-science to improve results. People who are knowledgeable about both software and data increasingly have opportunities in marketing. In fact, in an ‘Ask The CMO’ article, Barbara Messing, CMO at TripAdvisor, admits that very few of her acquisition team members come from a traditional marketing background; instead she has many more data scientists.
“A recent HBR study sponsored by Marketo described marketing technology as essential to creating agile and fluid structures and driving customer engagement. That’s because agile and fluid organizations are highly innovative. These teams understand that they can gain better insights into the unique relationships and connections with their customers and prospects by embracing technology.” – Lou Pelosi, The Ecosystem CMOs Need To Build Now, Marketo; Twitter: @marketo
39. As the lines between adtech and martech blur, some CMOs are realizing the value of adtech to support marketing initiatives. “The commercial opportunities presented by advances in ad tech are increasingly attractive for mar tech vendors, who recognise the benefits of shifting their focus from software to the aggregation and application of data. The appeal of leveraging data to drive audience profiling and more targeted ads to create higher ROI is strong, as is the promise of a large share of the marketplace. Notable M&A deals by mar tech vendors include Publicis Groupe’s purchase of its own DMP, Run, and media giant WPP’s acquisition of a 15% share in AppNexus.
“In a recent article, Ciaran O’Kane suggests this initial blurring of the traditional lines between ad tech and mar tech is a sign of closer ties to come. O’Kane’s predictions include Salesforce purchasing a DSP to allow its vast roster of SMEs to purchase digital advertising, effectively acting as a gateway between the two ecosystems. There is also the possibility of Adobe building on its data management and analytics solution by adding an ad server. This would enable users to access multiple services in one place.
“There is no doubt the technological landscape is shifting. The need to provide ever more convenient ways to manage media and serve relevant and successful ads is driving a rise in the consolidation of mar tech and ad tech. So are the two functions destined to become united? That remains to be seen.” – Is ad tech and mar tech destined to unite?, GingerMay; Twitter: @GingerMayPR
40. Martech is an ever-growing field, with technologies available to aid in not only personalization but also in engaging anonymous prospects at the top of the sales funnel. “As you would expect, most marketers want to use personalization to reach more prospects. How is this possible if most prospects are anonymous early in the buying process?
“According to VB Insight, there are now systems to help identify prospects earlier in the buying process and help marketers manage and consolidate customer data including:
• Customer Data Hubs
• Customer Identity Management
• Customer Profile Management
• Data Management Platforms (DMPs)
• Tag Management Systems (TMS)
“Most marketers that leverage personalization only apply it to known prospects or customers. Imagine if you could get ahead of the game and begin engaging with anonymous prospects. It could be significant enough to be identified as a new revenue stream.” – Kelly Waffle, Personalization–One of the Best Ways You Can Improve Engagement Across Marketing, The Common Thread by Markistry; Twitter: @Markistry
41. Account-based marketing technology results in quantifiable results for many enterprises. “It’s said over and over: There’s no such thing as a ‘silver bullet.’ No single cure-all, technological tool or strategy exists that miraculously will help businesses close more deals. That’s a pipe dream. And while we’re at it, there’s no magic elixir that will ensure sales and marketing do a better job of playing nice together, either.
“But a new survey by LeanData about sales and marketing alignment challenges the notion that those two teams are destined to forever be frustrated with one another. Yes, the survey found – surprise, surprise – communication and trust issues exist between sales and marketing. No news there, right? A deeper look, though, revealed something encouraging. Respondents indicated that cooperation is measurably better at businesses that have adopted an ABM strategy.
“Among survey highlights:
- Sales teams at businesses utilizing ABM are 20 percent more likely to trust the attribution numbers reported by marketing and also 20 percent more likely to understand marketing’s goals.
- ABM marketers said sales follows up on their leads 25 percent more – saying that it occurs 40 percent of the time compared to just 30 percent at companies not utilizing ABM strategies.
- Sales teams in companies not using ABM are 10 percent more likely to rate the quality of marketing-generated leads negatively.
“In other words, businesses using Account-Based Marketing are seeing quantifiable improvements in the sales-and-marketing relationship that presumably are upgrading their ability to close more deals – something that makes everybody happy.” – Mark Emmons, How ABM Can Improve Sales and Marketing Alignment, LeanData; Twitter: @LeanData
42. The third wave of CRMs integrates the element of human relationships. “The third wave of CRM encompasses the growing humanisation of technology by linking data analytics with customer engagement, sentiment, and behaviour.
“It’s a responsive selling tool that is constantly working to automatically update data and turn it into intelligent information, providing proactive insight into deals and accounts.
“Adding simple, personal touches to customer interactions has become easier: for example, before contacting a customer, you can check where in the world they are and accommodate any difference in time zones – as well as ask them how their trip is going.
“Responsiveness is the driving force behind third wave technology. With CRM 3.0 at your fingertips, you can track industry trends and the potential challenges or opportunities they present, double-check all the details of your last interaction at a moment’s notice, and stay alert to any blind spots that could derail an important deal.
“The technology has the added benefit of spanning a number of touchpoints, enabling you to pull, assess, and store information from all your customer communications, whether via email, mobile, or social.” – Peter Linas, The third wave of CRM: How human is your technology?, VentureBeat; Twitter: @MarketTechNews
43. Use tools like IFTTT and Zapier to automate and connect processes that otherwise don’t integrate well. “Marketing automation, when implemented properly, has the power to increase leads by 451% and boost sales by 34%.
“But… a shockingly high 85% of B2B marketers admit to not using it correctly.
“The secret ‘inbound marketing lie’ that no-one wants to admit is how F-ing time consuming this stuff is.
“Not to mention, if you don’t have the right tool setup, it’s nearly impossible to pull off.
“HubSpot is amazing. I’m a super happy partner and advocate. It makes marketing automation relatively easy to implement at scale. But most can’t (or won’t) fork over the ~$10k a year. That’s completely understandable.
“When I started consulting, there was no way my clients or I could afford it either. (Although there is a compelling argument for making your money back relatively quickly if you’re using any all-in-one, database driven tool properly.)
“But it’s difficult to construct an entire marketing funnel with only tools with native integrations. And it’s not realistic, as other departments or teams within your organization will probably have their own tools that need to work seamlessly with yours.
“They’re pretty basic once you get the hang of it. Simply connect two applications, create a ‘trigger’ (the thing that starts this process in motion) and an ‘action’ (what happens when the trigger is, well, triggered).” – Brad Smith, The Poor Man’s Marketing Stack: How to Hack Marketing Automation, Kissmetrics; Twitter: @Kissmetrics
44. Understand what technology will look like in your environment before implementation. “Almost every organization has some level of customization of existing applications that could complicate a seemingly simple installation of new technology. Ensure you have a solid understanding of what customizations have been made, and communicate those to the vendor early in the process.
“Speak with your system administrators and IT department to get a clear understanding of what applications will be affected—including tools in use by other functions and departments.” – Brittany Wickerson, Five Questions You Need to Ask Before Purchasing New Technology, MarketingProfs; Twitter: @MarketingProfs
Influences: MarTech and the Role of the CMO
45. CMOs should command leadership roles in the digital transformation. “CMOs should not be afraid to aggressively fight to play a leadership role in digital transformation. As keepers of the customer experience, marketing is best suited to bring the needs of the customer into every facet of these initiatives.” – Robert Tas, How CMOs Can Find Success in a Digital World, MarTech Advisor; Twitter: @MarTechAdvisor
46. Transformational CMOs rely on their expertise to map and align technology across business functions. “Transformational CMOs use their understanding of Marketing Technology software to assess how it relates to the distinct needs of the organization.Technology stacks should integrate across departments to create a comprehensive customer view. With 3,874 marketing technology solutions, this is becoming a more daunting task than ever. Does the software align and connect to your existing systems? Does it integrate seamlessly with other business applications? Does it effectively drive customer awareness?” – Dave Sutton, 7 Must-Have Skills for Transformational CMOs, Top Right Partners; Twitter: @TopRightPartner
47. Martech can bridge gaps by empowering marketing to speak in the same language as sales. “One important gap we often discuss is around martech and measurability. According to Ruth Stevens, president of eMarketing Strategy, CMOs and VPs of Marketing are under increasing pressure to measure revenue and ROI because when it comes to digital, their upper management teams assume all touchpoints and campaigns are measurable in terms of profitability.
“Martech can help marketing teams speak the same language as the sales team by using sales metrics to measure marketing performance. But marketing leaders need to start with stakeholder interviews before considering a technology solution.” – Andrew Nguyen, Non-Obvious Ways To Manage New Martech Investments In B2B, Bizible; Twitter: @bizible
48. Automation still rules the day when it comes to digital transformation and the key to navigating the complexity of channel proliferation; thus, the effective use of martech is one of the biggest influencing factors in the success of a CMO. “It’s clearer than ever to marketing leaders that the demands of today’s complex digital environment require technology. Automation is key to navigating the complexity of channel proliferation, Big Data, competitive pressure and budget constraints—and the need to prove value.
“These leaders are also realizing that the level of success they’re looking for requires skill sets not traditionally found in the marketing suite. Operational- and technical-oriented talent is now a team must-have.
“The concept behind this hybrid profession, Marketing Technology (or MarTech), is relatively new, spurred by an explosion of available technology. Today there are more than 2,000 marketing applications to choose from: just four years ago, there were about 100 on the market. Assessing and selecting technology that advances marketing strategy is a crucial function involving marketing, IT—and marketing technology professionals who understand both worlds.” – Digital Transformation: The Sum of Marketing + Technology, Coffee + Dunn; Twitter: @CoffeeDunn
49. The right combination of talent and technology creates a distinct competitive advantage. “With all of the knowledge, technology, and capabilities marketers now have at their fingertips, the sky should be the limit when it comes to performance and productivity, right? And yet, 75% of marketers say their lack of skills is impacting revenue in some way (Source: 2012 Marketing Skills Gap Report) and 90% of companies say they lack the necessary digital skills in key areas of social media, mobile, internal social networks, process automation, and performance monitoring and analysis (Source: Capgemini Consulting).
“Paul Roetzer, CEO of PR 20/20, took a look at what’s causing this digital talent gap (an imbalance between skills taught in the classrooms and the skills sought in the marketplace) and offered a solution (building in-house training programs) in his session called ‘Strategies And Technologies To Build And Measure Business Success.’
“Roetzer laid out his blueprint for companies to assess the strengths and weaknesses of their employees–using PR 20/20’s marketing score–and implementing an education program that improves employee performance capabilities.
“And with only 28% of large enterprises planning to introduce formal training programs to improve digital marketing skills (Source: Online Marketing Institute), Roetzer notes that there is a real opportunity to create a competitive advantage through training your in-house talent.” – Kelsey Uebelhor, MarTech Conference: Insights from the Intersection of Marketing & Technology, ProofHQ; Twitter: @ProofHQ
50. It’s practically impossible to meet customer expectations without utilizing marketing technology such as automation and personalization tools. “Customers’ expectations of digital experiences are rising, and providing appropriate content targeted towards the right person at the right time is challenging without an abundance of manpower and disposable time to customize. In this new world of digital advertising, agencies need to start focusing on technology platforms that can deliver unique, personalized content to users no matter what device they’re on or what kind of content they’re enjoying.
“Martech tools can help you auto-segment incoming contacts into appropriate categories, serve different versions of your ads to different segments based on their persona, and remember their actions and information to better personalize their interactions with your brand.
“More than ⅓ of companies rated marketing automation ‘very successful’ at achieving important goals like increasing lead generation and improving lead nurturing.” – Hanna Huffman, Why the Success of your Digital Marketing Campaign Depends on Marketing Technology, Pinckney; Twitter: @PinckneyMktg
51. Technology alone is not strategy; you must align initiatives and use martech to meet specific business objectives. “Align your services with customers’ strategies and business goals. Saad Hameed, Head of Marketing Technology at LinkedIn, emphasizes ‘strategy and plan before tactics.’ As we all know, technology is not strategy.” – Junichiro Yamashita, How MarTech Impacts Commercial Printing Business, WhatTheyThink?; Twitter: @whattheythink
52. The best marketers are both data-driven and tech-savvy. “The most effective digital marketers today are both data-driven and [tech-savvy]. Traditional marketers will be well served to immerse themselves in both mobile and general technology trends, so that they can engage their customers the way they prefer to be engaged. As I said, there’s a learning gap among marketers today. But with the right learning — and the right tools — traditional marketers can quickly evolve into the kind of marketers that are advancing the state of the art in this fast-changing and ever-evolving profession.” – Julie Ginches, CMO at Kahuna, MARTECH Exclusive Interview with Julie Ginches, CMO at Kahuna, Kahuna; Twitter: @kahuna
53. The evolution of the CMO role is accompanied by the growth of roles within the marketing department to accommodate the need to manage technology. CMOs can take advantage of the opportunity to enhance the skillset of the marketing team by adding Marketing Performance Management (MPM) specialists and similar roles to master technology utilization. “The marketing team keeps evolving, with many organizations adding emerging roles like Marketing Technologist or Data Scientist. Ready to meet the newest member of the team? Enter the Marketing Performance Management (MPM) Specialist.
“MPM responsibilities like planning, budgeting, performance analysis and reporting, and marketing performance optimization have been part of the marketer’s repertoire for years. What’s new is that leading marketing-driven organizations have started hiring dedicated people to handle these MPM responsibilities.
“There isn’t a consistent Marketing Performance Management job title yet, but forward-thinking organizations like Kimberly-Clark, Snapchat and UnitedHealth Group are hiring specifically for marketing budgeting, planning and ROI insights. This hiring trend signals an acknowledgement of the importance of ongoing budgeting, planning and measurement within performance-driven organizations.” – Sam Melnick, Marketing Performance Management: The New Role on the CMO’s Team, Allocadia; Twitter: @allocadia
54. CMOs today are best at marketing when they are not only marketers but also technologists. “In an article with CIO.com at the end of last year, Kathleen Schaub, Vice President of IDC’s CMO Advisory Service, made the claim that “no CMO today can be a good marketer unless they become a good technologist.” Her predictions are based on IDC’s CMO report, which found, among other things, that by 2020, 50% of companies will be using cognitive computing to automate marketing, while 33% of CMOs will begin to outsource digital marketing via Marketing as a Service (MaaS).
“The rapid adoption of tech, analytics, and automation in business marketing means that collaboration between Marketing and IT is going to be essential moving forward. Collaboration will be key as data from product development, digital web presence, and new applications and digital campaigns offered by third party vendors are all becoming integral aspects to the marketing day-to-day. This lead Forrester to name the relationship between CIO and CMO the most important business partnership in 2015, and to expand upon the importance of their customer-centric campaigns and attitudes in a more recent report.” – Andrew Heikkila, Digital Disruption Demands Marketing and IT Departments Come Together, Social Media Today; Twitter: @AndyO_TheHammer
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Further Reading from the Docurated Blog:
- What is Agile Marketing?
- B2B Marketing Automation Tips
- 10 Components of a Marketing Plan
- Top Marketing Automation Tools
- Measure Return on Marketing Investment
- Strategic Marketing Plan Resources
- Account Based Marketing Resources
- Consultative Selling Tips
- Sales Pipeline Management Tools
- Business Analytics Software
- Digital Marketing Trends