The rise of the chief marketing officer proves that technology and marketing blend well.
Business transformation has bought an amazing phenomenon, the eminence of hybrid professionals or Chief Marketing Technologists. A comparatively new role into the C-Suite, CMT is the culmination between the Chief Technological Officer and the Chief Marketing Officer, appearing as Marketing Technology Manager, Director of Marketing Technology and Marketing Business Information Officer.
An excellent blend between technology, marketing and business strategy, they are the experts who can navigate both worlds with equal finesse.
The Role of the CMT in Business Transformation
To build seamless workflows across departments, enterprises have begun to embrace the role of the chief marketing technology officer (CMTO) or chief marketing technologist (CMT). CMT’s have been quintessential in selecting, evaluating and choosing marketing technology providers to match the enterprise’s needs. To understand this concept more lucid, we should be examining the new trend into MarTec.
Scott Brinke, VP Platform Ecosystem, Hubspot adds to clear the concept “it is the shift from the business of communications to the business of delivering experiences.” “Because of the need to craft experiences marketers are dealing with an explosive amount of technology, and most marketing teams don’t have that tech-savviness.”
The role of the Chief Marketing Technologist is an acknowledgment how the modern-day enterprise is changing to accommodate the new wave of organizational re-jig. When this position is properly resourced, the current and future growth of a business is all set for a digital uplift.
Technology becomes an important aspect to engage prospects and customers collectively bringing the choice of software and how to configure and operate it, along with how businesses can derive benefits from it.
The Change in Business Objectives
Gone are the days when marketing budgets were restricted to B2B and B2C marketing. The rise of data has made it possible to rise into digital marketing budgets. The current trends point to a double-digit rate increase annually, with the higher-level C-Suite adding to the ethos that digital marketing is an indispensable technology-powered investment that enterprises are poised to make in the future.
The rise in digital budgets points to the drastic migration from traditional spending to digital media. Surprisingly enough, a growing portion of marketing budgets is now aligned to the technology domain itself.
The new-age brand marketing is already powered by technology. Every data collected from are blended into social media analytics, CRM and digital asset management.
Multiple research reports into CMT trend device an interesting trend-
- Enterprises who have adapted to CMTs see a revenue increase into 11.7%, compared with 7.1% for those who have not adapted to the chief marketing technologist (CMT) role.
- CMT role will make businesses witness a 30% hike into their marketing budget on digital marketing, then 21% for those who have not.
Enterprises cannot afford to have separate silos between marketing and IT to be able to converse seamlessly with each other. CMO’s are trying their hand at understanding the technology side of their business. While the CIO side must improve their marketing skills to develop into a chief marketing technologist role.
The faster these trends are embraced, the quicker an enterprise will see visible value additions. The role of a Chief Marketing Technologist is poised to grow in the future as the business and the technology side demystifies the thin line with the advent of data.