​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

Latest Videos

More Videos

Well done, team at Larsen. Fantastic story of how to continually invest in customer experience.

Adam Frank

A designer jewellery brand's take on customer relations

Read more

Great piece Katja. It will be fascinating to see how the shift in people's perception of value will affect design, products and services ...

Paul Scott

How to design for a speculative future - Customer Design - CMO Australia

Read more

Google collects as much data as it can about you. It would be foolish to believe Google cares about your privacy. I did cut off Google fr...

Phil Davis

ACCC launches fresh legal challenge against Google's consumer data practices for advertising

Read more

“This new logo has been noticed and it replaces a logo no one really knew existed so I’d say it’s abided by the ‘rule’ of brand equity - ...

Lawrence

Brand Australia misses the mark

Read more

IMHO a logo that needs to be explained really doesn't achieve it's purpose.I admit coming to the debate a little late, but has anyone els...

JV_at_lAttitude_in_Cairns

Brand Australia misses the mark

Read more

Blog Posts

Why marketing technology utilisation is taking on new urgency

Disparate data sources, fragmented technology and a lack of funding has left many brands struggling in the battle for online customer attention amid a global pandemic. Now more than ever, brands need to focus on unlocking the value of their marketing technology.

Suzanne Croxford

Marketing technology partner, Wunderman Thompson Australia

How to design for a speculative future

For a while now, I have been following a fabulous design strategy and research colleague, Tatiana Toutikian, a speculative designer. This is someone specialising in calling out near future phenomena, what the various aspects of our future will be, and how the design we create will support it.

Katja Forbes

Managing director of Designit, Australia and New Zealand

The obvious reason Covidsafe failed to get majority takeup

Online identity is a hot topic as more consumers are waking up to how their data is being used. So what does the marketing industry need to do to avoid a complete loss of public trust, in instances such as the COVID-19 tracing app?

Dan Richardson

Head of data, Verizon Media

Sign in