Does anyone still believe that Marketing can be successful following intuition driven practices? Is it sufficient to spread marketing investments across a number of channels to successfully reach and convert prospects? Does your CMO fully grasp the new table stakes in competing for new customers?Let’s examine some changes and opportunities facing today’s CMO
- Diminished response on traditional marketing channels and a complete bombardment of marketing messages through these channels.
- New marketing automation technologies and innovative content marketing approaches are more easily available to CMOs to drive experiment and measure results.
- The dispersion of consumers’ attention from a handful of media channels to multiple devices and context aware mobile applications
The Data Driven Marketing Organization
The challenges of reaching prospects is not insurmountable, but it requires marketers to consider a new paradigm.
Today with many media channels, many approaches to develop contextually relevant marketing messages, and many technologies to consider, the best and most successful marketing groups are fleeing “big bang” marketing campaigns with broad messages reaching many prospects, to implementing smaller targeted tests to learn what works reaching strategic segments of customers.
Hopefully you can see the importance of this critical shift and its implications:
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| New capabilities, technologies, and media outlets driving the Data Driven Marketing Organization |
The three shifts pictured demonstrate how much more CMOs today have to be sophisticated with data and technology. They are using more sophisticated segmentation techniques leveraging more data to help develop and maintain granular customer models. They are designing multitudes of marketing tests and often leverage real time contextual data to help target customers. They are experimenting with new ways to reach customers including social media and task driven mobile applications.Add this all up, and you’ll see why marketers to be successful today need to be data driven, have talent in data science, and have a partnership with technologists and the CIO. Marketing, more than ever before has become science with experiments yielding results, that should translate to smarter/better experiments.
So, CIOs and technologists – how are you helping your marketing departments?? CMOs, are you engaging your IT department on a partnership? How are you driving data driven practices?
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