What is IT's role in owning budget for marketing/CX technologies in organization's today?
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Global Chief Cybersecurity Strategist & CISO in Healthcare and Biotech2 months ago
Responsible for ensuring that the technology works well for the organization, fits their needs, and helps them achieve their goals smoothly/efficiently.CMO2 months ago
In my four roles as CMO, marketing has always owned budget for MarTech - from marketing automation, ABM, website, CX surveys, etc.It plays a role in security assessment, integration, technology advice, and sometimes operations.
Principal Consultant2 months ago
It comes down to whether the budget is CAPEX (Capital Expense) or OPEX (Operating Expense) and the distinction is made and owned by Finance. Different Finance leaders might see things differently.Typically, the IRS sees system building (Website, eCommerce, CRM) as CAPEX because you're making a long-term investment in the future of the company. That budget is typically, but not always, owned by IT.
SaaS subscriptions like HubSpot, On24, Eloqua, Marketo are typically seen as OPEX because the system building happened at the SaaS provider and not in your own company. Billing typically is done monthly or annually. That budget is almost always owned by Marketing.
Director of IT2 months ago
I think budget should remain with marketing, with direction from business lines. IT role should remain on the technology enablement and acceleration of activities for marketing/CX.CIO2 months ago
Fundamental. Just because the subject is Marketing or CX doesn't mean there isn't IT involvement.When IT is involved, it needs to define the budget to meet the demands.
I have seen cases where the budget for these subjects is finalized without IT's participation, and then there is pressure to execute tasks without the necessary resources, funds for software or hardware acquisition, or available teams for the project's development and operation.
Furthermore, it is important to emphasize that a company that organizes budgets in silos, without involving all departments, is not an organization with a long-term future.