Video Transcription

So one of the things that we’re finding right now is that CMOs areĀ going to have a bigger tech budget then the CIO in the next couple of years. I think that’s an interesting perspective. CMOs are in a very misfortunate advantage right now. We know they’ve had a hard time keeping their tenures. The CEOs are losing faith in them because they’re focused on a lot of the wrong things.

And I don’t envy them. They have the hardest job in the world. As a marketer, there’s a lot of friction in the process and there’s a lot of friction in trying to get past all the noise that the consumer is now bombarded with: advertising all over the place; they go on their phone; they look at Facebook; they want to catch up. They used to go from a few hundred messages a day to thousands today.

They need to be data-driven, which they’ve never been beforehand, and now they’ve got to make all these decisions on this. Yet in an organization, if I’m the CMO, people assume that I’m the Chief Marketer. And as a marketer, I should really know everything about my customer. It takes a tremendous amount of humility.

And I think that’s the challenge that CMOs have today is saying, look, I don’t have to be the expert now, but we can let the data let us become the experts about our company. What we would have taken as an assumption or a leap of faith assumption about what could be possible, what I think would work, my opinion is as good as the person who just walked in the door today, and we’ll test it through data.

We’ve got to get there, but it’s hard, and it requires a lot of that leadership to be able to say, we need to remove the barriers from experimentation and enable the organization to use the data and experiment. That’s their job now, and they’ve got to shift their whole organization to see it and they’ve got to shift their mentality to be there as well.