Liz Miller, CMO Council, Bernard Chung, SAP, David Raab, Raab Associates, Georg Rasinski, LG Electronics
Marketing technology is at the very core of today’s business strategy. According to a recent CMO Council study, Quantify How You Unify, marketing leaders are facing significant challenges managing the growing sprawl of marketing technology. The study reveals that 42 percent of CMOs who own their marketing technology strategy see greater business impact than those who do not. Moreover, those with a formal strategy contribute more to overall revenue and value creation: Half (50 percent) are able to achieve more targeted, efficient and relevant customer engagements, and 39 percent achieve greater return and accountability of marketing spend.
While 67 percent of survey respondents believe new marketing technologies are essential or very important to overall marketing group performance and effectiveness, they are being held back by technology overload, too many data sources, and lack of strategic application and integration of disparate point solutions and data.
So where do we go from here? The growth in the marketing technology space will continue to grow. Marketing technology researcher and expert David Raab, CEO or Raab Associates, estimates that that nearly half of features upgraded by marketing automation vendors in the past year relate to analytics, including customer analysis, content analysis, and lead scoring, firmly placing better analytics at the very top of the technology agenda. But how do marketers know if their foundation has any gaps? Where are duplicative solutions being deployed? And where is the data flowing – or even more importantly, where is the data being clogged – in this tangled stack marketing has built?
Join the CMO Council as we head from experts in the Marketing Technology space as well as from brand leaders who are taking steps to make sense of the marketing technology stack.