20 Apr MarTech and the Decade of the CMO: CMOs are expected to increase 10x their spend in #technology by 2025 but don’t have the skills or expertise to select or manage this new reality via @FoundationCap
We expect technology spend by CMOs to increase 10x in 10 Years from $12 billion to $120 billion, unlocking a huge opportunity for marketing technology companies and opening the door to the Decade of the CMO.
Sourced through Scoop.it from: foundationcapital.com
WHY IT MATTERS: this is nothing new. Gartner has spotted and reported on the trend since 2013 at least. What is interesting is that this growth is coupled with an inherent incapacity by marketing teams to select and manage this technology because they simply lack the skills. And very often the IT department lacks the marketing and business knowledge to help. So we can expect some major problems as marketing dept and CMOs find their way into this new reality.