Success is often a matter of recognizing the small paradigm shifts which are precursors to momentous change. Chief Marketing Officers (CMOs) with a knack for identifying these telltale signs are ideally positioned to create cutting-edge campaigns that resonate with audiences and drive revenue. Here is our cheat sheet to jumpstarting your company's marketing strategy in 2019.
Technology will be at the center of virtually every marketing campaign, regardless of industry. This calls for increased cooperation and collaboration between the CMO and the head of technology at the organization, the Chief Information Officer (CIO). It is a complementary partnership characterized by close consultation, joint decisions, and shared objectives.
The key areas of cooperation will revolve around strategy and campaign reach but should also include security, compliance checks, and due diligence on marketing technology (MarTech).
Familiarity with MarTech will go a longer way in 2019 than ever before. Already, major corporations are finding that CMOs with the right technology background are a valuable "double asset" that allows them to cut down on purely technical staff. "The recent proliferation of marketing technology for engaging prospects and customers, the increasing need for marketing accountability and the recognition that the customer experience is the new competitive battleground are redefining the qualifications and skills needed of a CMO," said Kevin Joyce, CMO and VP of strategy services for The Pedowitz Group.
This scenario is best realized when the Chief Operating Officer (COO), the Sales Department, and the IT Department can establish a streamlined working relationship with the CMO. There should be no rigidity here - if the need arises for dedicated tech specialists, the company should address it immediately.
As recently as five years ago, MarTech and SalesTech were secondary concerns of both CMOs and their organizations. The shift in 2019 will be towards total ownership - MarTech and SalesTech are no longer auxiliary concerns, they are front and center in the fight for market share and better bottom lines. "CMOs will need to take on greater ownership for driving overall growth, morphing into more of a Chief Commercial Officer. The age of simply doing creative advertising is over," said Darren Goode, CMO of Elvie.
CMOs must, however, always keep in mind that technology is the easy part. The difficulty will lie in the same area it always has in the past: having the right people with the right attitude to fully apply that technology.
We expect the trend towards unified marketing and technology to be very prominent in 2019. That prediction inevitably gives cause for concern to CMOs who do not have a deep tech background to fall back on. They can take comfort in the fact that this progress does not require CMOs to be tech experts.
Technology is a strategy enabler but not the anchor of the process itself. The core instead lies in a universal understanding of how the many components come together and having the right team on hand to implement the technology to achieve the organization's marketing goals.
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