For the first few months of every year, our email inboxes are flooded with white papers, e-books and published articles, all predicting upcoming trends in marketing, technology and communications. It’s easy to feel overwhelmed and paralyzed by the overabundance of data and recommendations. This year, we were intrigued by trends and statistics outlined by Gartner, Inc. in The Annual CMO Spend Survey 2019-2020 as well as the organization’s strategic technology trends for 2020 presented during the Gartner IT Symposium.
Gartner predicts that hyper-automation, multi-experiences like augmented and virtual reality, and wider access to data and analytics are the top tech trends of 2020. The Spend Survey goes on to say that one in five marketing organizations plans to increase its spending on marketing technology to keep up with trends such as the ones listed above. We agree, it’s important to invest in technology and stay educated about how these trends are being used and how they can impact our clients. However, we take a more strategic approach to marketing technology. We not only want to understand the technology, we want to deploy it strategically and with purpose. ddm president Jordan Buning adds more in this video.
Another trend that interests us involves paid media. Gartner finds that CMOs are doubling down on digital channels and increasing what they spend on paid media. This graph illustrates the digital advertising spend broken out across channels.
Gartner’s report goes on to say that the efficacy of the breakdown is challenged if CMOs lack the data required to effectively target audiences with the right message along optimal points in the customer journey. That’s why we make sure our clients’ investment in paid media is supported by owned and earned efforts. The type of integrated approach we take helps our clients’ budgets and messaging go further.
Finally, Gartner finds 72% of CMOs place awareness as a very important or critically important success metric. But how is awareness measured?
Your team could come up with a clever equation that takes into account all sorts of rates, functions and actuarial estimates, but we prefer to take a more holistic view. Given that buyers are twisting and turning through a sales cycle that’s no longer linear, we need to take a varied approach that brings together metrics from paid, owned and earned channels to paint a truer picture of marketing success.