The future of women in Martech looks promising. Did you know that 48% of CMOsOpens a new window hired in the first half of 2019 comprised women? Today we turn the spotlight on this critical area, discussing:
- Seven trends poised to influence the future of marketing technology
- Exclusive insights from a few outstanding women in the Martech industry
- How the right education can help change the present perception and promote gender equality in the industry
The marketing industry is in a peculiar position when it comes to female representation. On one hand, the marketing space is known for hiring women, especially in customer-facing roles. However, on the other hand, female representation in marketing technology (Martech) has traditionally been sub-par.So, what does the future look like for women in marketing technology? Are they receiving equal opportunities, ready to realize their full potential and drive this discipline to new heights?
We asked seven female leaders in MartechOpens a new window from leading companies such as Merkle, Madison Logic, Goodway Group, WeTransfer, Showpad, SurveyMonkey, and TechStyle. Our conversation revealed a few key insights into the current state of women in Martech and prospects.
Current State of Women in Martech Indicates the Need for Diversity in STEM Education
The field of marketing has made significant progress by being inclusive of diversity and gender equality. However, the low representation of women in tech has an impact. “Women are much more prevalent in Martech due to higher percentages in marketing, but this is lowered by the far lower percentages of women on the tech side of Martech,†said Amanda MartinOpens a new window , VP of enterprise partnerships at Goodway GroupOpens a new window . This can be linked to the fewer number of women taking up STEM compared to men.
According to a 2019 statisticsOpens a new window , women make up almost half of the college-educated workforce in US. Yet, they make up only 28% of the science and engineering workforce. Also, female engineers and scientists occupy only 15% in engineering and 26% in mathematics and engineering science-related professions. Further, women earn much less than men in STEM related occupations.StatisticsOpens a new window show that women earn 89 cents per dollar men earn in STEM-related fields.
Fortunately, there are moves in the right direction. “School programs such as STEM (science, tech, engineering, and math) are helping to teach necessary skills, build interest, and provide the right tools, even before high school and college, with kids as young as elementary school,†said Sandra SwindleOpens a new window , SVP and CRM technology delivery leader at MerkleOpens a new window .
STEM programs may be behind the trend we saw among women leaders in Martech in Q1–Q2 2019. Russell Reynolds Associates, an executive recruitment firm studied 200+ senior marketing job changes in the first half of the year 2019. According to the study, “48% Opens a new window of the CMOs appointed during this period were womenâ€.
“I believe the growth of women in the martech community is correlated to the growth of women in STEM and those pursuing STEM-related degrees,†agreed Rita Patel JacksonOpens a new window , VP of product marketing at ShowpadOpens a new window .
So, where do we go from here? Let’s now look at seven trends that could influence the future of women in martechOpens a new window .
What Does the Future of Women in Martech Look Like? Here Are 7 Trends
Overall, the experts we spoke to were optimistic about the future. “Female representation has gotten much better in the 25 years that I have worked in the tech space. National campaigns such as #SeeHer and Google’s #IAmRemarkable, just to name a few, have given massive awareness to diversity and inclusion efforts across the industry,†mentioned Swindle. Here are seven trends we expect to see:
1. The gender gap in technology will shrink
This is the first step to an equitable future for women in Martech. STEM courses at grassroots levels (school, K12) will be critical to increase the number of female tech graduates.
“These programs will help bring an influx of the next generation into Martech in the coming years. I believe that the accessibility of these programs will further help to bridge the gender gap that we have previously seen in tech,†Swindle said.
2. The perception about women in technology can be changed
AccordingOpens a new window to Tiffany Horan, engagement manager at App’n’Roll and founder of Women in Tech Chat, a misconception is that all roles in the technology industry require the ability to code. However, this is not true. All it requires is a genuine interest in technology. There are many women coming from different cultures and backgrounds with a common factor – technology. They also come with extensive level of competencies.All it takes is changing the perspective. Iva Glavinić, PR and marketing manager at Mediatoolkit believesOpens a new window that the tech industry can be taught that being a woman has nothing to do with the competence levels in technology or business. This can be done by building women networks, mentoring younger women joining the scene and celebrating strong women in technology.
Fortunately, many organizations have started celebrating women in technology. More organizations in the industry may be expected to change their perception positively about women and their competence in technology.
3. Diversity as a whole – beyond gender – will be a priority
As women in Martech take center stage, conversations around other types of diversity will also gather momentum. Also, companies that value diversity perform quantifiably betterOpens a new window . “It’s not just gender; we also need to look at the diversity of race, class, culture, and more. Some studies emphasize that stronger diversity leads to not only a long-term increase in revenue but sustains a stronger company overall. We’d be stupid not to work to increase overall diversity,†said Jenn SteeleOpens a new window , CMO of Madison LogicOpens a new window .
4. Flexible working will accelerate the move toward equal opportunities
The traditional presenteeism culture can make career progression difficult for women, particularly new parents. According to the U.S. Census Bureau, one out of five women quit their jobs before or after giving birth. Flexibility will change this picture.
“A generational push for flexibility in the workplace, is proving to deliver increased productivity and buy-in from employees, allowing women to remain leaned into their career through many life-stages. If we can remove the motherhood tax, equality will be easier to reach,†said Martin.
5. Women will bring more value and creativity to tomorrow’s marketing campaigns
Natascha ChamuleauOpens a new window , VP of sales at WeTransferOpens a new window , made an interesting point on how the Martech industry has become inordinately driven by data. “The marketing industry was known for thinking differently, seems to have fallen into the familiar ‘growth at all costs’ trap,†she said.
“But that may change as we continue to bring in more women and diverse perspectives across industries. I hope we will help brands think beyond what online advertising has become and bring the emotion, the mission and the heart of their brand back into their visual communication,†she added.
6. Women in Martech will encourage a feedback-led marketing paradigm
“The future of Martech for women and men alike is all about feedback,†said Leela SrinivasanOpens a new window , CMO at SurveyMonkeyOpens a new window . Cutting-edge Martech platforms will help gather and analyze customer feedback in large volumes, transforming how companies position their products.
7. Disruptive marketing technology innovations are on the cards
Companies with a diverse management team earn significantly higher revenues from innovation (19 percentage points moreOpens a new window , to be precise) than companies with sub-par diversity. Women in Martech will play a major role in driving innovation, leveraging the power of AI, Blockchain, IoT, and other disruptive technologies.
“With women gaining ground and the playing-field becoming more level, I predict brand marketing will also become more innovative, relevant, and ultimately, more successful,†said Daria BurkeOpens a new window , CMO at JustFabOpens a new window , a TechStyle Fashion Group brand.
How You Can Support the Future of Women in Martech
The industry cannot afford to take a wait-and-watch approach to gender equality. From teaching STEM at school to mentorship programs for women in marketing technologies, there are several steps that can help usher in a more equitable future. “We are fortunate to have some great female leaders among our current ranks, and together we must continue to mentor and champion the next generation,†said Steele.
The men in Martech must also take a proactive part in transforming gender representation. “Men still dominate these positions, so it is up to them to be open to the necessity of not only including but inviting women to the table,†said Martin. Eventually, this will lead to events such as women in market leadership summits becoming only leadership events, “no longer siloed by gender†as Martin put it.
Further, the barriers for women to enter any field involving technology are still aboundeven though perceptions are changing. This may include from being one of the few women in an undergraduate course in the college to finding a technology-related internship in a male-dominated organization. Even as a professional, they may face challenges of lower salaries or being passed over for promotions in a male-dominated organization. Terese Barreira, CMO, Publicis Sapient says that we need to eliminate entry barriers to truly promote diversity.
Laura Hemenway, founder and president of Paradigm Solutions, an IT and marketing technology consulting firm, says that it is the responsibility of women in technology to encourage other young women and start the change. She further says that women employees must learn to gain courage and confidence so that they are heard from day one.
Summarizing
We have come a long way in providing opportunities to women in Martech and benefitting from their immense potential. Led by these trends, the Martech industry is on a fast-track to an equitable future – one where every viewpoint makes a vital contribution.
What, according to you, is the biggest challenge faced by women in martech? Tell us your views on FacebookOpens a new window , TwitterOpens a new window , and LinkedInOpens a new window .We would love to hear from you!