CMOs best understand the demands of the clients and make marketing strategies and implementation plans by accurately mastering market opportunities to help companies complete the marketing goals.
Factors including the global data explosion, social media, increase of selectable channels and equipment, changing consumer features and reduction in consumers’ loyalty to the brand have a great impact on corporate businesses and brought many challenges to CMOs.
How to enhance the understanding of marketing technologies? Understanding marketing technologies has become the second most important kill necessary for CMOs. It is predicted by Gartner, a business think tank, that CMOs of big companies in 2017 will have a bigger power of participation in technical product purchase than CIO.
How to use marketing technology and product to greatly promote the marketing achievements? With the increase of technical input in marketing management, IDC predicts that the global marketing software market will exceed 32 billion dollars in 2018.
How to effectively increase the input of social media management tools in marketing technology purchase? The booming of social media and smart phones has thoroughly changed the way people access online information. Therefore, the investigation by DataXu on “distribution of budget for next year’s marketing technology purchase”, 55% of the marketers in Europe and America will distribute the budget to social media management tools.
In mobile social era, on the one hand, consumers have become the boss of business behaviors and on the other hand, technology has made it possible for companies to meet the client demands. Companies collect personal information and demands of clients, send purchase recommendations and relevant promotion information, provide cross-channel client purchase experience, and activate relevant brand relations. Changes in these two aspects has determined that technical trend and trend of future marketing development have become the new demands for CMOs.
Need to be aware of consumers and their experience comprehensively
Need a multi-channel, cross-platform and integrated marketing strategy
Need effective management of marketing effect and marketing assets
The user-centered and data-driven mode becomes a new challenge for marketers
The most affecting element for a brand is reputation. CMOs need to know the impact of reputation on corporate brands on social platforms. To master and influence consumers and master the tempo of digital marketing, marketers should try their best to dig and analyze big data to lead strategy-making.
Solve the problems with technical understanding and application. The questionnaire survey to CMOs in large companies conducted by the intelligence center of the Economist revealed similar results. On the question of “What skills are the three key points in desperate need of development for the marketing organization that you are responsible for?”, two options of “marketing technology” and “digital interaction” ranked the first place(39%).
Enhance the integration and application capability of marketing and technology and equip the company with a Chief Marketing Technologist. The work of CMT is to help companies realize their business goals with marketing technologies.
Reconsider the purchase percentage of social media management tools in marketing technology purchases. Data show that compared with the existing average use level, American marketers tend to use the multiple marketing technologies more. According to the investigation data of DataXu, social media management has accounted for 71% in the current and expected situations of marketing technology purchases in American companies.