Marketing technology is changing the way brands interact with customers, raise brand visibility, and increase sales of products and services. However, many organizations focus on the role of marketing technology at a tactical level and don’t look at the strategic value it can offer top marketing positions. Yet AdWeek explained that chief marketing officers (CMOs)—whose average tenure is dropping to just over 3 years—need the intelligence, agility, and insight provided by marketing technology to remain competitive. Here’s a closer look at how top marketing leaders can leverage marketing technology to improve their performance and help steer their companies toward growth.
Insight Over Intuition
Marketing technology has forever changed marketers’ relationship with data. Today, every decision can be stress tested against real market data to ensure that it’s being led by sound strategy. For example, before greenlighting a major marketing campaign, CMOs can look at historical performance data, detailed profiles of customers, and many different forms of market research to determine how performance will unfold. The best CMOs embrace data to inform their decisions and rely on tangible insights—rather than intuition or wishful thinking—to guide their leadership decisions. Every CMO needs a clear data strategy for his or her management process and should be facile enough with data to develop the kind of strategy that enables smart tactical decisions.
Embracing Future Tech for Significant Advantages
New classes of technology are emerging daily in the marketing field, providing new capabilities and opportunities to marketers. CMOs who encourage their organizations to embrace new technology can find unparalleled advantages in the market. For example, could embracing predictive analytics help you identify trends in the marketplace faster than the competition? Or could automating the way your team approaches customer communication free up staff time and budget? Embracing future technology makes it possible to bring a fresh, timely perspective to key marketing decisions.
Systems Thinking and Marketing Technology
Increasingly, marketing technology requires CMOs to think broadly and strategically about their next steps as they anticipate how technology will reshape the playing field. Technology isn’t just tactically changing the way campaigns are executed or increasing efficiencies. Instead, the way companies use technology is shaping their very customer experience and serving as a critical differentiator.
Technical Fluency Is Critical to Leading in Today’s Environment
As technology plays a larger role in the marketing ecosystem, CMOs need strong technical fluency to set the vision and define clear next steps. Technical fluency can mean a range of different things, from the ability to anticipate what technology trends are important to developing a data strategy. Fundamentally, at the CMO level, technological fluency circles back to determining which technologies are critical and how they can integrate with your existing plans to deliver better business outcomes.
Ultimately, an evolving technology landscape is changing every role within marketing—but fewer more than the CMO. Whether it’s the ability to futurecast how new technologies are shaping the industry or determining how to strategically leverage new channels for maximum impact, the CMO ready to navigate the latest technology changes will be in the strongest position to lead thriving companies into the future.