The world is moving at an accelerated pace. The reason for the accelerated growth is due to technological innovation. To move with the pace, it is essential for the organizations to need to develop the capabilities. Most of the Organizations are not yet ready to embrace the tectonic shift that is going to happen in the next five to seven years. The Organizational change needed is not happening at that pace, the reason being the inertia to change and learn. Organizations run with various departments like sales, marketing, development, operations, Finance etc.
Now because of automation, the size of the organizations is reducing, and the traditional job role of individuals are going to get extinct. Compared to other sectors of various organizations marketing and technology are in the process of diffusion. Hence it is necessary for the organizations to hire Marketing technologists who can take decisions for creative intelligence, that led to a performance with an objective driven understanding in the technology terrain to implement necessary action.
A report by emarketer.com clearly indicates that Marketing leaders are restructuring their Marketing and/or technology departments to leverage Marketing technology. Based on the survey numbers it is a clear indication that 58.2% of marketing leaders have either restructured or in the process of restructuring to take a leap towards marketing technologies.
The same research provides another insight for organizations about someone who will oversee marketing technology. 52.73% of the organizations have accepted it.
This is also important to know the kind of activities that are expected from the CMTO (Chief Marketing Technology Officer). They are as follows:
- Research and Recommend new marketing technology products
- Train and support marketing staff on using marketing technology products
- Operate MarTech products as admins, analysts, editors etc. (Different Roles)
- Integrate marketing technology products with each other
- Perform Technical review of martech products
- Monitor data quality within martech products
- Identify and sundown unused and outdated martech products.
- Approve or Veto purchase of marketing Products
- Negotiate on business terms for purchasing marketing technology products
- Budgetary allocation for Martech products
- Integrating Marketing products with non-marketing systems
- Customizing marketing technology products with software development.
- Perform security review of marketing technology products.
As Per CMO Council CX Dynamics, most of the CMTO is responsible to accelerate revenue growth across the organization, Optimize customer experience strategy, Champion a customer-centric corporate culture and mindset.
This entire activity gives rise to a blending personality for an organization. The below picture is a clear indication of a cross-functional interrelation between Sales, Customer Service, Marketing and Product. It is imperative for the CMTOs to prepare the next generation of CMTOs in the right direction. Hence the term of Digital Transformation is coined. Certain organizations like ThoughtWorks, Accenture, PWC, Mckinsey have already started taking actions in this direction.