When CMOs own and define their company's marketing technology strategy, their organization achieves more targeted, relevant, and efficient customer engagement and greater revenue contribution, according to participants in a CMO Council study titled "Quantify How You Unify."
Marketing Technology: You Can't Live Without It
Whether you're an established company or a startup, marketing technology is a necessary tool. But, because the marketing technology landscape has exploded, it's hard to know which tools are required and which are a nice-to-have, depending on your company's maturity and goals.
Scott Brinker, a co-founder and the CTO of ion interactive who writes at Chiefmartec, has been monitoring the marketing technology landscape since 2011. The 2015 edition of his marketing technology landscape supergraphic identified 1,876 suppliers in 43 categories.
The vast number of available marketing technology options is proof that marketing is evolving into a technology-powered discipline. It is now imperative that you have a road map and framework for marketing technology investments.
Moreover, to ensure those investments truly help your organization thrive, you need to consider whether and how they will create an effective and efficient sustainable "technology ecosystem."
The Marketing Technology Ecosystem Defined
The term "ecosystem" is typically associated with biology, and in that context it includes all of the living things (plants, animals, and organisms) in a specific area, their nonliving environment (weather, terrain, climate, etc.), and how they interact with each other. In an ecosystem, each organism has its own niche and role to play, and the ecosystems are dependent on their environmental conditions.