​Report: C-suite is disconnected from martech investment

Marketers must speak the language of the boardroom if they are to demonstrate the value of martech to the bottom line, new research has found

A new study has revealed a gap between marketers and the rest of the c-suite, as marketers realise struggle to push the value of martech at a business level.

According to software company Squiz’s latest State of Marketing Technology report, 78 per cent of marketers feel confident in explaining the value of technology investments, but there is a disconnect with the rest of the boardroom.

The report, which surveyed 600 senior marketing professionals across Australia, the UK and the US, found 97 per cent of global marketers believe that marketing technology has allowed the marketing department to become more strategic in its approach and 43 per cent say they’ve been able to develop more data-driven KPIs since investing in it.

Yet despite these benefits, the report revealed more than half of marketers think c-level execs don’t understand marketing and only 35 per cent think their CEO strongly realises the potential revenue uplift and saving of martech investment.

And while half of marketers surveyed feel they are most closely aligned with the CTO or CIO, only 27 per cent say their marketing team is working closely with the CEO. As a result, stakeholder buy in is still a challenge for 32 per cent of marketers and over a quarter still don’t feel they are able to confidently set goals that the whole business can support.

The report also revealed while 47 per cent of the c-suite outside of a marketing department use some marketing technology in their roles, marketers still do not believe that other functions understand martech’s potential impact on revenues in the way that they do.

“Our research confirms the strengthening role of digital within the boardroom, with more departments on-boarding the latest in martech,” Squiz’s Group CEO, John-Paul Syriatowicz, said. “There is now significant opportunity for marketers to ensure the value of this technology is being conveyed to key stakeholders. They also need to start leading by example, recognising their responsibility for using the technology to its full potential, and optimising its business impact.”

Marketers are investing in these products for numerous reasons, the survey found, including to better understand customers, to remain competitive, to take a data-driven approach to marketing and to automate processes and reduce time on admin.

“This increase in technology adoption is a real win for marketers, as their presence and influence among the c-suite grows,” Syriatowicz added. “They now need to start speaking in the c-suite’s language, and prioritise how to best communicate the benefits of martech for problem-solving, enabling more strategic business decisions, and driving growth across the entire organisation.”

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Is artificial intelligence riddled with bias?

The purpose of Artificial Intelligence (AI) has always been to replace the menial and repetitive tasks we do each day in every sector, so that we can concentrate on doing what we do best. Saving time and money has certainly been a decent outcome as AI infiltrates the business landscape, however, now we are starting to see problems that cause major issues in practice.

Katja Forbes

Founder and chief, sfyte

5 things every business can do to drive brand loyalty

If you’re in any customer-centric role, you’ll likely be familiar with the Net Promoter Score (NPS) – one of the most popular tools for brands to measure their customer sentiment.

Catherine Anderson

Chief customer officer, Powershop Australia

What the modern gig economy is doing to customer experience

Most marketing theory was established in the context of stable employment relationships. From front-line staff to marketing strategists and brand managers, employees generally enjoyed job security with classic benefits such as superannuation plans, stable income streams, employment rights, training, sabbaticals and long-service leave.

Dr Chris Baumann

Associate professor, Macquarie University

Thank you! That was useful to know.

Belia Adam

Why your best social marketing brand tool could be hiding in plain sight

Read more

Because you are missing the point of the term "disruption"

Sean

Uber for the truckies: How one Aussie startup is disrupting the freight industry

Read more

Absolutely agree with this ... Facebook doesn't care what adds they show. You report an add for fake news/scam and it just remains "open...

Quasi Carbon

Unilever CMO threatens Facebook, Google with digital advertising boycott

Read more

How to create Pinball game in 4 minshttps://youtu.be/S1bsp7del3M

Alex Atmavan

Rethinking gamification in marketing

Read more

True Local - one of the least credible review sites on the entire internet.

MyNameIsStomp

Former Virgin Mobile CMO and CEO joins oOh! as first customer chief

Read more

Latest Podcast

More podcasts

Sign in