Friday, January 23, 2015

Marriage of CMO and CTO work life...


In a recent study by Gartner, It was striking finding that  “By 2017, a CMO will spend more on IT than the CIO.”

Deep rooted is how the world has evolved and changed tilting towards Big Data and new approach towards how customers are reached out to. Over the years, ERP (Enterprise Resource Planning) products were the winners, mainly sprouted from back-offices to cater to needs of manufacturing, HR and Sales functions of business. Marketing was never thought to quite fit the bill of a process or at least never thought to be usefully served by automatic function. Even though in last 15 years, sales functions were automated but marketing functions are under penetrated by ERP software. 

Until recently, marketing automation was seen as “process” and not as “data”. But recent waves of technology penetration in marketing has led to automation of certain functions such as email marketing material to clients or running a full campaign.



Historically, the challenge with marketing automation is that it has always been about “process,” not about “data.” More recent categories, such as email marketing or marketing automation, are focused on process automation — how to take a set of manual tasks and streamline them, track them or automate them.
Until recently, marketing data was not used strategically or even customer data was never about prospects. But with the advent of web, and new tools related to big data, tracking customers and their preferences have become easier and more meaningful.

Also, new software target the complete life cycle of customer engagement to customer lifetime value. This has made targeting new customers segments easier and financially viable.
I think biggest push will come from social networking sites such as Facebook, Linkedin and Tinder. Soon, we will see world with marketers and technocrats under same rood led by their CMO and CTO towards a new breed of marketing campaign.


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