The CMO's Role in Technology Strategy

Today's CMO is responsible for driving the overall marketing strategy and the technology strategy that supports it. When it comes to technology, you don’t have to be able to build or manage the details of the marketing technology stack, but you should be actively involved in:

• Driving the data strategy
• Developing the stack strategy
• Prioritizing technology programs
• Reviewing stack performance
• Structuring the organization so that team members have the skills to select, implement, utilize, and manage the technology that is being purchased

Poor decisions in any of these areas can lead to:

• Unacceptable marketing performance and missed revenue numbers due to a lack of technology performance or utilization of poor data to target prospects.
• Increased cost of customer acquisition due to overspending or lack of control of the technology stack.
• Lowered customer lifetime value (CLTV) due to overspending or lack of technology to support engagement and retention activities.
• Organizational inefficiency and productivity issues because technology skills are not aligned with the technology that has been acquired.

Ultimately, it is the CMO who is measured on marketing’s success, and if poor technology choices impede success, it is the CMO who is accountable.

Drive the Rationalization of Your Stack

Often, it takes fresh eyes and someone who isn't emotionally attached to a specific set of technology to challenge the team to look for opportunities to rationalize and optimize the technology stack.

With a complete inventory in hand, you’ll be able to lead an effort to uncover redundant products, contracts, and functionality, as well as products that are being paid for but are not being used. The advantage of rationalization is that you will:

• End up with a clean technology stack to work from as you define your technology strategy.
• Likely reduce technology expenses or free up the budget for new technology (our customers typically reduce costs by 20%) that aligns with your strategy.

CabinetM’s stack reports make it easy to target technology for retirement.

AI Will Change Everything

AI adds another layer of complexity to the marketing function. CMOs are expected to understand AI's application in marketing, establish ethical guidelines for the use of Generative AI, and craft and deliver an overall AI strategy to the company's executive team and board.

As you consider where AI fits in your marketing strategy, complete, clean, and accurate data becomes mandatory. Any AI-enabled technology that you introduce into your stack will only deliver results if it works with good data. Regardless of when you plan to introduce AI, now’s the time to make sure your data sources, content, and architecture are sound.