Today’s CMOs don’t look quite like they did five years ago. Back in 2013, I joined a MarTech start-up as their first head of sales and marketing. We were building an audience intelligence platform to mine social data and build customer segments based on the expressed interests discovered using natural language processing and machine learning.
I was the first full-time hire, and the platform was not fully built; we needed an injection of capital to get to a minimum viable product (MVP). As we did the rounds of pitching angel and Series A investors, one stat we often cited was that by 2017 the CMO would yield larger IT budgets than the CIO. This helped us convince investors that we were indeed pursuing an attractive and growing market. Well, 2017 has come and gone, and marketing technology budgets are indeed exceeding those of the CIO.
Author: Stephen Tarleton