A decade ago, marketing was viewed primarily as a cost center whose chief function was to support other groups inside the enterprise, particularly, the IT Department. Yesterday’s marketers played a secondary role and merely primed audiences with brand impressions and TV ads that enabled sales teams to go out and sell the product. Data driven marketing has changed everything.
But technology is transforming the way Alberta businesses communicate, interact, and engage with their customers, driving fundamental changes that are moving marketing beyond the narrow confines of marketing departments.
Customers now engage with companies all the time as they communicate across a range of touchpoints - including social and mobile technologies, locations, and physical objects.
That wealth of data can bring us closer than ever before to our customers, and give us the ability to build real relationships with every customer based on what they’re saying - and not saying. It’s the Holy Grail for marketers.
Consider how yesterday’s marketers created ads and made decisions based largely on emotions. What a different picture exists today. Marketers today have access to powerful tools to help make decisions using data. What’s more, today’s marketers are driving revenue and have a broader stage to drive strategy centered on the lifecycle of the customer experience.
A Boardroom Priority
I’ve had many conversations with executives from leading global companies recently that are all talking about the next transformation ahead for their business. Some call it a digital transformation, others a customer experience transformation, but whatever you call it, this transition commands the attention of the CMO, CIO, and even the CEO. Indeed, McKinsey found that more than half the time, CEOs now personally sponsor their company’s digital initiatives, up from just 23 percent in 2012.
Their involvement underscores just how important it is for companies to put the new data and analytics to use and get closer to their customers. This shared agenda - recently described by Forrester Research CEO George Colony as a new Age of the Customer - is going to forever change the customer experience. But the road ahead includes unique technology challenges as well.
A New Class of Enterprise Systems
Digital is at the core of everything we do in marketing and the delivery of online marketing technology is undergoing an exciting revolution. What we once called “marketing automation” has developed strong new muscles and evolved into a broad, ultra-high-scale, analytically powered enterprise customer platform. The technology has broken out of the marketing department to become essential to vast transformation projects and a strategic weapon in business.
The explosion in the number of touchpoints and interactions is far beyond what most organizations are used to handling. There’s no hope of transforming the organization without a way to hear and analyze the totality of all this new information. That’s why prescriptive and at-scale technologies will play an integral role in this digital transformation.
The volume of information and interactions that companies need to understand as they engage their customers will be unprecedented. They’ll take the form of more than one billion customer touchpoints per day - that tell a story about a customer, and require a company to listen, learn and speak in a consistent, relevant and meaningful way at every stage of the customer journey.
You need to think about investing in a Marketing automation platform that will become the fabric of the enterprise, allowing companies to hear their customers everywhere they are, and enabling marketers to guide their customers at exactly the right place and the right time. Technologies like this will ensure that companies never leave the side of the customer.
That’s the only way to do digital transformation, right? Otherwise, what’s the point?