
Feb 08, 2018
It is all about data. In 2018 it is no longer an option to ignore data-driven marketing strategies. A lot of CMO’s are already aware of this and realise their organisations might not yet be ready to fully leverage on the opportunities a data-driven marketing strategy poses. According to The CMO Survey August 2017, Organizations are investing more in training and development to close the talent skills gap when it comes to data utilization. This is necessary to keep on finding new ways to deliver effective messages to the right people at the right time and stay ahead of all the noise.
But where do you focus your efforts on in 2018? Robert Landon is happy to help you out a little here with the article he wrote on the Top 5 CMO Priorities in 2018 (Hint: It’s All About Data).
The key takeaways for you:
1. Get mobile right first
Business still have a lot of work to do when it comes to mobile says Steve Earl, senior director for Oracle Marketing Cloud. The most common misconception is to think of mobile as alternative or add-on channel. Make sure your initiatives are part of an integrated marketing strategy. If you are aren’t yet offering your customers a way to interact with you on their mobile devices, it’s definitely time to get up to speed. Your objective should be to deliver truly connected, relevant experiences and to use the data you collect to ensure that your products and services are evolving to meet your customers ever changing needs.
2. Connect data across channels.
Many CMOs say they have more information than they know what to do with. The channels with which your customers want to interact with your organisation keep on proliferating and the technologies that capture all that information are evolving just as fast. Steve Olenski, author and contributor to Forbes’ CMO Network, says the solution is to ask, “How does my organization go from thinking about discrete interactions in discrete channel to a single conversation that crosses many channels?” Recognizing that a customer is the same person, regardless of the device, location, platform or situation, is a critical priority for CMOs.
3. Take a human (and pragmatic) approach to AI.
Harness the power of AI to answer very specific questions, like ‘When is the best time to send this email?’ or ‘What is the ideal subject line to use?’ is the trick according to Steve Earl. It enables you to start to chart a path to clear, measurable outcomes, as well as understanding AI’s limits today.
4. Think outside the IoT box.
Until now, IoT has largely remained a focus for non-marketing applications like manufacturing, supply chain, service and support. But it’s time for marketing to catch up. There are two ways to think about IoT—as a tool for gathering ever-richer customer information and as a new channel to enhance customer experiences. It is time to huddle with your CIO and brainstorm ways IoT can combine both approaches to begin to transform your organization.
5. Data privacy: You can’t afford to get it wrong.
As marketing becomes more data-driven, it must also become more security-driven. As mentioned in one of our other blogs, it is a complex equation which mandates that organisations have a deeper understanding about the nature of the volumes of data they collect, store, and process. These considerations can be further complicated when IT, security, and data governance are not a core focus of the organisation.
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These challenges probably make CMO the fastest-changing job description. According to The CMO Survey August 2017 many CMOs are taking on new responsibilities and are leveraging leadership skills in their expanded roles by being the voice of the customer, having an enterprise-wide business mindset and understanding, and having the ability to demonstrate the quantitative impact of marketing, among other skills.
Download the CMO Survey August 2017 here:
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