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CMOS SOON TO HAVE MORE I.T. BUDGET THAN THE CIOS; SHIFT ATTRIBUTED TO MARKETING ANALYTICS

The marketing professional’s paradigm is quickly evolving as more are using analytics to expand strategy. According to Gartner by 2017, the CMO of a company will spend more on IT than the CIO! Moreover, IDC claims that customer analytics represents an approximate $15B opportunity in software; and in 2013, 50% of new marketing hires will have technical backgrounds. Return on Marketing Investment (ROMI) is causing this shift. Data is used to verify and expand marketing strategies. Technology, specifically analytics create stronger strategies and accomplish a high value in ROMI.  Gartner has attributed the shifts due to internal factors such as functionality, people, and culture (see inset). But at the same time we believe the external factors are also demanding the shift to evolve. External factors include the ubiquity of technology and the internet. Marketing has become a science by combining creativity and technology.

The evolution of culture, people, and functionality within corporate America, combined with Internet driven commerce and social media that provides an abundance of data to drive strategy and measure results, has given marketers a chance to “brightly market” to customers and lay claim for their success.  The fact that research is demonstrating a strong merge between IT & marketing, with marketing taking the leading role in not surprising.

 

 

Cited: http://www.gartner.com/id=1928314

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Tags: CIO, CMO, IT, ROI, ROMI, analytics, big, data, marketing, paradigms, More…web

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