What impact could modern technology have on the marketing department? Could it be reducing the role of marketing? And who is responsible for introducing new technologies to the company? These and many other related questions are answered in our latest survey of senior marketing professionals.
New technologies - good or bad news for marketers?
The survey of CMOs in both B2B and B2C marketing found that 75% of them welcome new technologies as they are enabling their organisations to get closer to their customers. While only 2% of respondents think new technologies reduce the role of marketing, on the contrary, more than 60% of them feel new technologies as raising the profile of the marketing department.
So, while technology is often viewed as disruptive, the survey found that CMOs don’t see new technologies as a threat. On the contrary, technology is seen as an enabler for the marketing efforts of organizations. A clear majority (87%) of CMOs believe that technology enables people to do their jobs better.
What is the most valuable?
There is a diverse range of modern technologies used in marketing these days. Marketers can benefit from the power of social media, take advantage of the augmented reality, virtual reality and artificial intelligence. However, CMOs in the survey agreed that most relevant and valuable are still technologies enabling digitalisation (62%), data contact platforms (47%) and cloud computing (32%).
Who's taking responsibility?
When it comes to introducing new technology to their organisations, CMOs are generally in clear agreement over where the responsibility lays, 51% of those surveyed believe it lays with Executive Management. This is the leading response with almost a fifth (19%) of CMOs agreeing that the responsibility should belong to the board while 10% named IT as the most responsible party.
Technology help to sell, doesn’t it?
Marketing departments often need support from other areas of the organisation when implementing new technologies. It’s encouraging to see that 63% of respondents feel the support is there, although it’s somewhat disappointing to discover that 1 in 5 of those surveyed feel that support is lacking. It is essential to encourage organisations to fully support their CMOs as they introduce new technologies which deliver stronger customer relationships in support of the sales function.
To sum it up we had a chance to see what CMOs from B2B marketing (50%), B2C marketing (18%), and those who work in both the B2B and B2C sector (32%) think about the huge impact which technologies have in a marketing department. It could be a useful insight since we all use modern technologies almost every day and can barely imagine our lives without them. It is important to see that we also can profit while using modern technologies in the business.
Download our 2020 CMO Survey report: How CMOs are embracing technology to create value for customers.