Do you need to be good at marketing now that you’ve installed technology?
In 2018, CMOs devoted more of their budget to technology investments than labor, and that fact is not expected to change this year. For many companies, the Marketing Technology (MarTech) line item represents almost a third of the Marketing budget. With this level of investment and the proliferation of technology, wouldn’t we expect lead management to be an issue of the past? Yet, the conversion from opportunity to customer still is below 10 percent. In fact, the most recent statistic I could find, which is from Salesforce, says that only 6% of opportunities ever end in a deal! No wonder Econsultancy found that only about 22% of business are satisfied with their conversion rates. If technology were the answer then we’d see greater satisfaction. Therefore something else clearly is needed.