Prick up your ears, marketers! Forrester's 2020 forecast webinar launched a lot of interesting ideas.
In 2019, 22% of the marketing budget was invested in technology. This, however, has led to some issues:
1) Overlapping software are used for the same activities.
2) Having to account for the ROI, including that on technological investments, causes widespread anxiety on both the teams and the leaders.
3) From the "technology stack" we must move on to a "significant experience". On the contrary, many products appear all alike to the end user (aka our customer), being based on the same technologies.
In 2020, a CMO will need to choose what to keep and what to cut. And what else may be worth buying.
According to Forrester, they are going to choose tools that can make the company’s internal processes more agile and efficient.
Marketing teams need to react faster and faster to market changes and user tastes. That's why processes need to be fluid. We can't afford them to get jammed because of the programs we use to work.
Rusty Warner considers two types of software essential:
1) software to govern content-related processes.
2) software to measure the ROI of marketing activities.Warner however agrees with Jay Pattisal, Principal Analyst @Forrester, that technology is not everything.
Here are their recommendations for success in 2020:
1) It's not enough to surround ourselves with the best technology, we need people who know how to make the most of it. Both employees and external agencies can help us differentiate our product, even if we use widespread technology.
2) Did we forget something? Remember that we are marketers, and creativity is in our blood. We invite CMOs to always divide their resources between technology... and creativity. Looking to the future, well beyond 2020.