Marketing technology has become a fact of life, as new data from digital agency Squiz attests. Roughly two-thirds of senior marketers surveyed in Australia, the UK and the U.S. markets have invested heavily in marketing technology over the past year, the study shows.
Over half of surveyed global marketers (52%) think that C-level executives don’t understand marketing, and only 35% think that their CEO strongly realizes the potential revenue uplift and saving of a Martech investment.
The average tenure of a CMO is the lowest of all C-suite titles, at an average of 4.1 years. The longest average CMO tenure is in the financial services industry at 5.1 years, and life sciences CMOs stay on average a full two years less at only 3.1 years. The average CMO in the consumer industry stays 3.6 years.
Source: Korn Ferry
The senior executives who approve the purchase of business technology, and the industry analysts that influence them, have been very clear that they expect IT vendors to understand and respond to complex digital business transformation agendas.
Source: Digital Lifescapes
Now that consumers are seeing AI play a bigger role in their everyday lives, more and more marketers are adopting the technology. Move over Mary Shelley’s Frankenstein. Enter cognitive computing and predictive analytics, and so much more. Take this quiz to measure your knowledge of today’s AI.
By 2021, CMOs will spend nearly $119 billion on search marketing, display advertising, online video, and email marketing. These changes reflect a new emphasis on quality over quantity, a dynamic that will reintroduce human intervention into programmatic ad buying, turn marketers into growth hackers, and put long-tail publishers out of business.