Now, as shifts in buyer behavior are being equalized by shifts in marketing technology advances, CMOs are in a qualified position to increase their power.
In a new paper, “MarTech and the Decade of the CMO: How the Software Revolution Will Grow 10x in 10 Years”, venture capital firm’s Foundation Capital General Partner Ashu Garg illustrates the trends that will lead marketing technology spend to grow from $12 billion to $120 billion in the next ten years.
According to Garg, marketing is increasingly becoming a technical discipline. “It is shifting from an area where ROI has traditionally been murky to a new role dominated by the fusion of creativity, data, and technology. With more spending on technology and data, and more knowledge of consumers, the CMO will have more responsibility for generating revenue. CMOs will need to think strategically like CEOs, invest in technology like CIOs, and take more responsibility than ever before. In turn, this will create a huge opportunity for new players in the space”, he said.
The paper highlights the 3 major C-suite shifts that will have marketers owning greater leadership across the company, including changing CEO priorities and fluctuating budgets; case studies and direct testimonials from some of the biggest brands and most influential marketing executives in the industry, 5 keys to unlocking a new era of marketing for both CMOs and start-ups, such as being able to achieve mass personalization, measure ROI, and disseminate authentic content at unprecedented scale.
Download the full paper here