June 12, 2017, posted by iq
The 2017 SoDA Report
IQ is proud to be a founding member of The Society of Digital Agencies (SoDA), a global network of more over 100 digital agencies across 6 continents. Recently, SoDA released the 8th edition of The SoDA Report at SoDAReport.com. The 2017 SoDA Report is a collection of industry articles, thought-leadership POVs, and trends. The report includes a Global Digital Outlook study, performed in partnership with Forrester.
This year, Gartner’s once eyebrow-raising 2012 prediction that CMOs would spend more on technology than CIOs will be confirmed as true.
According to their CMO Spend Survey in 2016, the average technology spend of a CMO was 3.2% of total revenue, whereas a CIO’s was 3.4%. The report cites that the average marketing expense budget earmarks 27% for technology, a percentage second only to labor costs at 28%.
To those reading this SoDA Report, it won’t come as a shock that marketing is increasingly technology-dependent. It also shouldn’t be surprising that the role of the CMO is changing, and agencies must adapt.
This new “Technologist-CMO” role will be part-strategist and part-technology leader. It is one that will be tasked with aligning marketing technology with business goals, serving as a liaison to IT, evaluating and choosing technology providers, as well as spearheading enhancements to the overall digital customer experience.