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For years, the CMO was someone who rose through the ranks of a brand, gaining familiarity with the company’s story while building relationships with agencies and media partners to develop and execute what they felt was a successful strategy.
Alas, those days are almost gone. In a position with a continually shrinking average tenure—now down to 42 months—it’s no longer in the CMO’s best interest to make decisions based on “feel” alone. The rise of marketing technology and it’s ongoing potential has changed the industry so that media is bought and sold in fractions of a second, based on careful analysis of thousands of data points that are more and more attributed directly to business outcomes.
As new technologies advance, such as artificial intelligence used in media planning, CMOs will have an easier time connecting the dots between marketing, sales and revenue.