By Alexandre Pelletier February 24, 2018
Welcome back, loyal readers! This week, we’ll explore the traits that make a CMO successful in the world of martech, will learn why one author thinks a dip in B2B martech spending is ultimately a good thing, will explore an opportunity for competitive advantage in customer experience and will learn what Duke University found in its recent survey of CMOs.
Got a news item or tip we you want to share? Let us know. In the meantime, here’s the news:
Do you have the traits it takes to hit the bullseye as a CMO in the martech age? Over the past two decades, the skills and mindset that lead to the creation of an exceptionally successful CMO have radically changed—not to mention the comfort level with technology and data. According to contributor Andy Betts at MarTech Today, being “ambitiously innovative” a pioneer who pushes his/her C-suite colleagues out of their comfort zone is one of the main traits that successful CMOs share; read the rest of this insightful piece to see how you stack up, and if you agree with all of Betts’ assertions.
Today’s CMOs and marketers are constantly tempted by new options when it comes to CRM software, account-based management tools, marketing automation platforms and complementary technology. But if you’re giving into that temptation, you may be in the minority. Spending on martech actually decreased by 15% in 2017, according to research firm Gartner. And that’s a good thing, according to Gartner research director Christopher Ross in Forbes, who says that the cool down on martech spending signals that B2B companies are pausing tech spending so they can “fully realize the values of what [they] currently have.”
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Looking for a place where your brand can gain a huge competitive advantage? Take note of these numbers: Reported in CustomerThink, in Dimension Data’s 2017 Global Customer Experience (CX) Benchmarking Report, the vast majority of respondents (71%) noted that customer experience was a competitive differentiator. But among those same respondents, only 13% of brands rated their CX delivery at a 9 out of 10 or better. Clearly, marketers agree that CX has the potential to pay big ROI; the question is, will your business be part of the majority that lets the opportunity pass you by, or will you take the steps necessary to implement amazing customer experiences?
The CMO Survey—sponsored by the American Marketing Association, Deloitte and Duke University’s Fuqua School of Business—published its latest biannual report of marketing trends this week. Among other findings, the report noted that 15.1% of the 362 marketing executives surveyed anticipate spending more on digital marketing in 2018, with mobile marketing expected to increase to 13.5 % over the next 3 years. One thing that is interesting to note about this particular survey is the wide variety of industries from which the responses are gathered—unlike some other surveys that focus solely on Internet-focused industries like software and ecommerce, this report includes respondents from mining, transportation, banking, healthcare and more.
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