Digitalization and its effect on CMOs
Chief marketing officer's (CMO) role is evolving in the performance marketing landscape. The rise of digital marketing, technologies, and increased budgets in the marketing sector is pushing the CMOs to take on a more diverse position in the companies. They should tread on the way of opportunities that affect companies to change for better, improve product design and connect marketing activity with sales and revenue. Following are some of the trends that they should follow for the betterment of the organizations:
Mobile and location-based marketing: Smart mobile devices nowadays have location sensors that are able to locate any individual's location within a range. The sensors use multiple positioning methods to offer different granularities of location data and provide relevant contextual information and services. CMOs should leverage the mobile targeting for finding customers or communicating with known customers.
Voice search: As the adoption of the voice search technologies is on the rise, the marketing industry is also tending to use it in the business. The businesses are focused on generating content to capture voice searches. This technology is a natural extension to ensure the marketing officers that their organizations are always in the consideration set where their customers are searching using voice assistants.
Artificial intelligence (AI): CMOs should use AI to be instrumental in the future market. They should focus on building foundational CRM database to unlock one-to-one communications using push messages, SMS, email, and targeted social. They should focus to make a foundation of AI and machine learning that allow them to predict consumer behavior instead of reacting to transactional behavior.
Chatbots: The marketing officers consider chatbots as a part of their omnichannel techniques. Nowadays most of the business organizations are using chatbots as their financial guidance for the customers. Businesses now do not need to hire customer service personnel as chatbots perform daily transactions.
Digitalization is changing today's business function. Technologies provide remarkable opportunities for the marketing industry. By following the trends CMOs should build the vision for transformation and reshape the culture of their businesses.