An interesting development that has emerged in the recent past involves Chief Marketing Officers (CMOs) across the world focussing on enhancing customer experience by understanding, addressing and adapting to ever-changing customer requirements in real-time.
Studies show that these rapid shifts in customer demand are compelling marketers to deploy digital vehicles such as social media dialogue platforms, webshops and various mobile apps. From geofencing to big data analytics, business owners are leaving no stone unturned to demonstrate the value of their marketing initiatives.
Traditionally, CMOs have faced a computation and data analysis challenge, not to mention lack of real-time visibility in buying behaviour, that has made life even more difficult. As a revenue generator, quick and informed decision-making is crucial for a CMO. Hence, to remain relevant in today’s market, digital transformation is a must.
The other phenomenon on the digital landscape worth clamouring for attention is the demand for ‘more’ of everything – more channels, more digital interaction, more content. For an organization, this translates into creating strategic resources across departments to not only develop tools to meet new online marketing trends but to leverage these optimally (and in real time) to gather insights that will help shape the innovation pipeline. Thus opening up a nextgen of business processes catering both to CMOs and CIOs .
Several service-providers for Fortune 500 clients have already begun bringing CMOs and CIOs together to explore collaborative possibilities beyond their individual boundaries to find common ground. CMOs have typically been looked upon as domain experts while, while CIOs have been seen as strategic partners (not just platform providers). This step has been helping to leverage existing investments, making it not only cost effective but unlocking business value across functional silos.
The following areas will increasingly demonstrate the agility and aptitude of any decision making organisation:
- “Listening” to constant chatter on social media and providing clients with early insights on how their brands are being perceived
- Understanding marketing automation tools inside-out and acquiring the werewithal to create effective campaigns, and analyse and articulate results through powerful business metrics
- Studying the digital footprints of customers in real-time and converting these into actionable insights to enable clients to redesign their marketing strategies – proactively
These will be instrumental in ensuring that the business derives relevant and timely information to incorporate “customer experience” into decision-making.
In today’s fast-paced digital environment, CMOs and CIOs are increasingly likely to join forces to leverage the power of technology in new and innovative ways to benefit customers – something that may have seemed unbelievable even a few years ago.
BPM Expert : Sales & Marketing Specialist at Zensar Technologies