The Gaining Influence of Tech-Savvy CMOs
There was once a time when enterprise led innovation. Today, employees introduce advanced productivity, social and mobile tools into the workplace that overshadow legacy IT systems. This is further impacted by customers who utilize the latest engagement platforms and devices, making it difficult for any organization to keep pace with the rate of change.
Rapidly evolving technology and the move towards a total customer marketing experience that considers the integration of data capture, social media and mobile engagement has led to a greater emphasis on the CMO role in the organization.
The search-empowered customer and the influence that both digital and mobile technology is having on consumer purchasing habits are dramatically changing the marketing function and the skills required to effectively lead the organization in that role. While the core fundamentals of traditional marketing are required, CMOs are increasingly being looked to for leadership in areas that were once asked of the CIO or CTO.
As it is the primary function of the CMO to identify current and future customer trends, they are increasingly gaining influence in boardrooms because they best understand the impact that technology is having on consumers and their consumption habits. Boards, who recognize this development, are placing greater strategic decision planning on tech-savvy CMOs and the amount of budget they control. A marketer today must understand technology, specifically around innovation, platform and devices. In fact, CMOs will soon outspend CIOs with tools centered around CRM, engagement, networking and social listening.
Wearing the technology hat, CMOs understand innovation is about capturing the right data. This data is used to directly attract, engage, convert and retain customers. Data obtained from a total engagement approach is used to modify and measure a campaign. Innovation enables rapid adoption, creation and deployment of fresh ways to capture data and use it efficiently in current and future campaigns.
From the boardroom perspective, this ability for measurement and attribution is essentially the ability to understand why a buying decision is made and predict when the next one will occur. This makes the CMO invaluable when devising a solid business strategy.
Networking platforms enable enterprise to directly engage consumers at a much higher level. They provide flexibility to scale like never before with limited investment as compared to traditional media. These ubiquitous software solutions, which are quite different from traditional IT, are extremely user-friendly with high adoption rates and require limited support.
Retaining customers is more cost effective than acquiring new ones. They are no longer passive; customers are open to more advanced levels of relevant engagement, provided it is the right message at the right time. POS should become the start of the customer lifecycle. The CMO requires a seat at the table, as they are the ones who best understand how technology platforms can engage and retain a lifetime customer to continually increase sales.
To stay relevant, marketing is now outspending the technology suite in most businesses in direct response to consumers who remain ahead of enterprise in all things digital. This response has seen increased spending on mobile platforms, digital advertising, hybrid media and Omni-channel engagement.
Mobile provides opportunities to engage and measure internal and external interaction any time, location or device via mobile or web based apps as well as via virtual and physical ecosystems. At any moment in the customer experience and sales journey, devices enable the brand and consumer with the occasion to engage with one another. Global businesses become local and local businesses become global thanks to this conversation. From a boardroom perspective, the CMO generates growth and new market opportunities.
Tech-savvy CMOs are enabling the future of business in their organizations by engaging with their search-empowered audiences like never before imagined. They are being asked to generate revenue opportunities and deliver tangible metrics unheard of just five years ago. Forward looking companies are granting their CMOs greater influence in the boardroom and in many cases a real seat at the table to drive innovation and strategy as marketing best understands the consumer. Marketing drives big data. Marketing drives social engagement. Marketing drives mobile experience. Does marketing have a seat at the table of your company yet? If the answer is no, how long can your company afford to wait?
Brand Advisor. Customer Engagement Expert. Visionary Chief Marketing Officer.
From technology, entertainment and retail to hospitality, financial services and politics, Ron has advanced over 25 of the top 100 iconic brands such as Apple, Google, BMW, Disney, Amex, Levi Strauss and The White House.
He delivers an influx of innovative B2B2C brand experiences to millions of users by fostering brand and customer engagement strategies between enterprise and their customers through omni-channel platforms including mobile, social, buzz, online and direct marketing. As a creative, tech-savvy & visionary C-level marketing professional, Ron is a renowned masterclass speaker on transmedia content marketing to audiences across the globe.
Ron is the founder of BrandInflux, a Learnami Interactive Technologies company, Singapore, a consultancy specializing in brand experience marketing and digital media engagement strategies for B2B and B2C. He is also an Adjunct Professor & Fellow, Digital Media Lab at The University of Massachusetts – College of Management, Boston.