​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
Error: Please check your email address.
Show Comments

Blog Posts

Social purpose: Oxygen for your brand health vitals

If trust is the new currency, then we’re in deep trouble. Here's why.

Carolyn Butler-Madden

Founder and CEO, Sunday Lunch

Customer experience disruption: Healthcare faces a bitter pill

Over the past decade, disruptors such as Amazon, Apple and Australia’s Atlassian have delivered technology enhanced customer experiences, which for the most part, have improved customers’ lives and delivered unparalleled growth. Can they do the same for healthcare?

Alex Allwood

Principal, All Work Together

How can a brand remain human in a digital world?

Some commentators estimate that by 2020, 85 per cent of buyer-seller interactions will happen online through social media and video*. That’s only two years away, and pertinent for any marketer.

James Kyd

Global head of brand strategy and marketing, Xero

I have a friend from LA, he went to Australia two years ago and said me that it was very cool, but very expensive. People don't earn enou...

Rental24hAustralia

Tourism Australia flexes brand awareness, sets sights on US traveller market

Read more

https://bit.ly/2qLgzmR Transform your life a proven digital blueprint

Okitoi Steven

How this banking group tackled a digital marketing transformation

Read more

Its great to hear that companies including JCDecaux, oOh!media, Omnicom and Posterscope Australia have all partnered with Seedooh inorder...

Blue Mushroom Infozone Pvt Ltd

Out of home advertising companies strive for greater metrics and transparency

Read more

Much ado about nothingAnother fluff piece around what it could possibly do rather than what it is doing

gve

How AMP is using AI to create effortless ‘experiences’

Read more

is it true that Consumer expectations are also changing as a result. If we trust someone with our data there is also an expectation that ...

Sunita Madan

Society will decide where digital marketing takes us next: Oracle

Read more

Latest Podcast

More podcasts

Sign in