Technology is at the heart of most manufacturing categories (food, autos, appliances, even athletic apparel). But for years marketers didn’t have to embrace new technologies that were driving the rest of business; they could get along fairly well without it.
Those days are over. Marketers are racing to catch up in using new technology in the pursuit of profitable growth.
Caren Fleit, leader of Korn Ferry’s Global Marketing Practice, provided a thoughtful forecast of where marketers are headed in her article, “The Evolution of the CMO” in a recent Harvard Business Review. It looks very familiar.
A recent CMO survey led by Professor Christine Moorman of Duke/Fuqua supports that forecast. Customer Analytics (48%), Operational Analytics (21%), Fraud and Compliance (12%) and New Product & Service Innovation (10%) are among the most popular big data use cases in sales and marketing according to her survey.
Hitachi Consulting’s many decisions about client service, the solutions we co-create with our clients and the innovations we bring to market are supported by rich data analytics. In fact, our Hitachi research and CSI Labs are one of our brand’s most powerful weapons.
We don’t want to be simply the best known; we want to be the best —particularly when it comes to measurable client satisfaction. It’s not just about executing and analyzing a successful marketing campaign or initiative, although we’ve got many of those underway. It’s about bringing products and services to market that make an impact with clients so that they can better serve their customers.
Let’s hear from you: What’s holding you back? Or are you one of the lucky marketers, like me, who feel like they’re wearing the technological equivalent of a pair of Jimmy Choo’s?
“2010s — Big data and artificial intelligence swamp marketers with information. The focus shifts from telling and selling to customer engagement and dialogues and personalized communications and products. CMOs are expected to creatively apply insights to business challenges, validate decisions with data, create seamless customer experiences across media and revenue channels, and lead efforts to put the customer at the center throughout the organization.” Harvard Business Review, The Trouble with CMOs, July-August, 2017