Our Transformational CMO Assembly is next week, and we can’t wait to meet all of our members in Denver, Colorado.
Before we hop on the plane, we sent our Millennium Members a survey to get a firsthand look at the priorities that they have surrounding the marketing industry. These are our findings:
Predictive Marketing (AI, Machine Learning)
Predictive marketing is the top priority for CMO’s attending Transformational CMO Assembly. It is no surprise that predictive marketing is important for marketers in the days that data and digital transformation are disrupting the marketing industry.
“Predictive marketing vendors collect data from a growing list of sources, consolidate it, combine it with your marketing and customer data, and use that data to build a predictive model that is customized to your business.” Intelligent Demand reports.
Predictive marketing deals with marketing technology and has created a new landscape for marketers to address. According to Gartner, marketers follow a specific framework while integrating predictive marketing into business operations.
- Descriptive – tells you what happened
- Diagnostic – tells you why it happened
- Predictive – tells you what will happen
- Prescriptive – tells you what to do next
New technologies like AI or “cognitive” computing are creating an unprecedented opportunity for marketers to gain insight, broaden the ways they engage, and create more compelling experiences. Strategically, this mandate to transform spans legacy processes and systems across sales, marketing, operations and IT.
ROI Analysis, Attribution, & Optimization
The ROI analysis and attribution are crucial for marketers to understand because it reveals what tactics are driving purchases, by exposing what touchpoints are working, and what is not.
In today’s fast-moving and fragmented TV and video world, CMOs are constantly barraged with media results—clicks, GRPs, viewable impressions, and more—that serve as proxy metrics for true business success. But one thing remains the same: At the end of the day, the onus is on them to produce cold, hard numbers that prove their marketing drove real Return-on-Investments.
During the marketing journey, customers are exposed to a variety of touchpoints that drive conversion rates or ROI. Attributions work to determine what touchpoints are profitable and are producing results that are positive for the company. Once a marketer understands what is working, they can optimize results by creating a strategy that will maximize the desired outcomes.
Optimization is the piece to the marketer’s puzzle, which uses data to identify and refine the marketing process.
Blending Strategy, Innovation, Data And Advanced Technologies To Create More Insightful And Engaging Customer Experiences
The priority for CMOs is to create the ultimate customer experience and to be familiar with all the tools necessary to deliver one. Strategy, innovation, data and advanced technologies are among the factors that CMOs are focused on while creating an engaging customer experience.
Since the customer relates brands with experiences, marketers must engage and target their audience effectively. According to aThe 2017 Digital Marketing Trends Report conducted by Adobe and Econsultancy, customer experience is the most exciting opportunity for marketers today.
Marketers who put the customer at the heart of their marketing strategies can deal with some challenges while trying to successfully target their audience. The biggest challenge that marketers face is not knowing their customer well enough to deliver the right experience, at the right time.
Integrated Omni-Channel Marketing
The term omnichannel marketing has been a buzz word surrounding this industry. It allows marketers to engage with consumers seamlessly across multiple channels, such as digital components, like websites, mobile apps or social media. In the growing digital landscape we live in, this approach is more important than ever.
The customer is connected to brands through more than one source, which impacts buying decisions, and brand perception. As a marketer, it is crucial to connect with your customer through a multi-channel view, to allow progress and successful customer engagement.
Data-driven marketing is exactly what the name states. It involves using data-driven insight in order to conduct strategies that drive customer engagement and create predictions that will position marketers to make the best decisions for the future.
This technique is transforming the marketing industry as we know it, creating new approaches and integrating digital elements into business operations.
We will be discussing all of these trends next week, during our Transformational CMO Assembly. Don’t forget to follow #MillenniumLive on social media to receive all updated insights!
CMOs can witness two industry heavyweights coming together for the first time to debate the future of marketing.
We are pleased to have Miki Racine Berardelli, CEO, KIDBOX & Former President, Digital Commerce & Chief Marketing Officer, EVP, Chico’s FAS and Eileen Campbell, Founder, Womintuition and Former CMO, IMAX & Former Global CEO, Millward Brown during the Keynote Fireside Chat during our Transformational CMO Assembly taking place on November 8-9, 2017 in Denver, Colorado.