Dec 2020 CMO Council & KPMG
CMO: The Force Multiplier
Driving financial value through better technology strategy, investment, selection, integration, management and innovation.
Program Details
Sponsors and Partners:
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Overview
Today’s increasingly complex, distributed and digitally-driven marketing ecosystem is challenging global marketers to better integrate and manage data, best of breed solutions, creative resources, brand assets and go-to-market functions. Marketing process improvement, efficiency and yield is directly tied to more effective use of budget, automation, processes, front-office partnerships, data | analytics and intelligence that improve content creation, relevancy, delivery, access, control, workflow, agency/partner collaboration, market engagement, sales lead provisioning, as well as campaign measurement and tracking. All of this requires tighter coupling and collaboration between the CMO and his/her peers - CIO, CPO (Procurement), e-Commerce, CSO (Sales) and CFO.
To understand the challenges and best practices, the CMO Council will team with KPMG to lead a series of executive interviews and primary research studies around the evolving need of the CMO to more tightly align across the C-Suite and drive towards today’s increasingly complex marketing mandate.
Our first initiative, “Making MarTech Pay Off” will dive into the CMO/CIO relationship. Learn more below.
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Making MarTech Pay Off
Driving financial value through better technology strategy, investment, selection, integration, management and innovation
Today’s CMO must harness the power of MarTech to deliver an excellent customer experience. It’s the reason why CMOs continue to invest in MarTech with spend projected to reach $122 billion by 2022, according to Forrester Research. Financial and brand value depend heavily on the CMO and CIO crafting a sound strategic plan with choreographed execution.
Yet problems abound in the CMO-CIO relationship, resulting in ineffective technology adoption. The MarTech vendor landscape has more than 8,000 solutions, many of them narrowly focused and posing challenges in data integration and unified user experience. Lapsed collaboration with IT at various points along the technology lifecycle, as well as ad hoc tech buys, has created an architectural nightmare stymieing MarTech returns on investment.
In this thought leadership program, the CMO Council and KPMG explore strategies for ideal alignment between marketing and IT that maximizes MarTech ROI and financial value. Topics span strategy, investment, evaluation and selection, architecture, data integration, solution management, and innovation and agility.
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Facts & Stats
Oct 2020
When CMOs work closely with IT, they are more successful at reaching company goals, and are able to grow their revenues 10 percent a year, twice the average rate of the S&P 500.
Source: ForbesOct 2020
CMOs are now the biggest tech consumers in some organizations, spending more on IT than CIOs themselves with their marketing budgets amounting to 11.2 percent of company revenue, with technology the single biggest area of investment.
Source: The Enterprisers ProjectJul 2020
52 percent of companies with the lowest rates of growth revealed that the CMO and CTO/CIO rarely interacted.
Source: ForbesJan 2020
55 percent of CIOs are spending more time learning about customer needs as a way to foster the creation of revenue-generation initiatives – prime marketing territory.
Source: Marketing TechDec 2019