“What does the future of marketing look like, and how should brands prepare themselves now to thrive in the future?”
Here Is What I Said
Marketing has become about smart technology. The winners and losers will be defined by those who evolve strategically. CMOs are on track to spend as much as CIOs (Gartner) this year on technology, and most are very willing to invest big money to get the results that are being demanded from them. When talking to groups of CMOs it is common to have them trade “tips” on software solutions that each other are using.
Marketing technology stacks are common among the best marketers, but most are finding that there is a disconnect between the promise of results and the reality. While some of this failure is because CMOs have chosen the wrong tool for the job, most is due to a lack of tool level strategy integration.
With the glut of money being poured into technology acquisitions, the focus has been on hiring technologists (tool-level specialists) to manage and implement, not marketing strategists. Understandable, but for brands to stay ahead of the curve and win they need to invest in strategy closer to the tool, not just from the top as it usually is.
Here’s why, a Kitewheel study discovered that 72% of agencies use less than 40% of their software tools every week. It’s hard to imagine that B2B companies are doing much better. This begs the question, how much sales revenue is being left on the table? CMO’s who drive a sustained effort to bring in marketers who know strategy, can look for integration and usage opportunities, provide strategic technology acquisition recommendations, and that are technology savvy, will give them the edge in the MarTech Arms Race.
Read the full article and my comments on Inc.: These 17 Social Media Power Players Agree On 1 Thing (And It’s a Must-Have For Your Business). Connect with Peter Kozodoy on Twitter at @peterkozodoy.