Marketing practitioners spend a fair amount of their time at the intersection of the marketing function and the technology that powers it.
Gartner correctly predicted that by 2017, the CMO would spend more than the CIO on IT. In light of the impressive advances in technologies that enable marketing to simultaneously become more automated as well as more effective, over 7,000 technology companies powering the marketing organization through advancements in areas like programmatic, artificial intelligence and machine learning. As firms realize the value of these capabilities, we remain in a technology renaissance, with marketers continuing to own more power within their organizations.
The following are five predictions about shifts we will see in the marketing technology ecosystem next year.
Smaller marketing budgets lead to smaller tech stacks
Through 2017, the marketer was able to build people and budget, two things necessary for power in any organization. The ensuing consequences were overspending, less ROI and a lack of managerial oversight, but the C-suite is getting smarter. It is not surprising that Gartner now predicts that marketing budgets are leveling off. Decreased marketing budgets will require marketers to explicitly justify expenses and demonstrate ROI. CMOs will devote further attention to integration, consolidation and less spend in 2019.