As the market is evolving, marketers are under huge pressure to deliver the revenue goals driving the overall ROMI (Return on Marketing Investment).
It is easy to slip as marketers try to juggle multiple channels, high-dollar campaigns, individual point solutions, and internal stakeholder demands. Marketers need to manage an incredible amount of consumer data that can be used to deliver personal brand interactions. This data stands out as an overwhelming obstacle to sift through, interpret, analyze, and use to create personalized marketing strategies. However, most marketers do not feel adequately equipped to predict the customer expectation to drive maximum value in their current state. It is time to revolutionize the role of marketers to create marketing strategies that better serve the marketer and the customer. The combination of machine and humans is empowering a marketing revolution.
Marketers need to stop focusing on manual data work and put technology to work. Marketers are flooded with tools to simplify their job, delivering exceptional results for their business. They now have options for over 7,000 marketing technologies. Integrated holistic marketing platforms are steadily replacing multiple disjointed point solutions which lack communication. Marketing technologies also provide the marketers with human-level insights allowing them to use personalized marketing tactics to reinforce and fuel relationships between brands and consumers. Emerging technologies create an Omnichannel strategy to go beyond merely collecting data into multiple silos.
Marketing platforms equipped with artificial intelligence and automation accurately decide the content structure, marketing channel, and target audience. Marketers are now focusing their time on ready-to-implement tactics to quickly and efficiently execute their strategies.
Also read: The Changing Role of the CMO
As marketers transform from data aggregator to a creative marketer, they need to identify strategic KPIs in the business and work accordingly. These KPI goals most likely align with customer growth, revenue growth, and profitability. Once marketers have an objective in mind, they can use a technologically advanced benchmarking tool to identify the high-level goals. Benchmarking gives marketers the power to see what other competitors are doing and borrow ideas to incorporate into their own strategies.
To create a next-generation marketing strategy, marketers must understand what makes the most significant impact. Strategies should be confirmed based on the defined goal. This will give marketers the ability to upgrade their digital strategy to influence the next generation of marketing. Marketers should become the heroes of the organization since they essentially become a strategic asset. For this, marketers have to say no to siloed tools and data segregation and adhere to strategic alignment with the business.
The technology-driven revolution is all about delivering solutions to marketers so they can optimize productivity with resource optimization. They can align with machines to learn to identify real targets, engage them, understand how to interact with the brand ideally, and close conversions. This decade belongs to digital marketing with over one-third of CMOs foreseeing it accounting for 75% of marketing spend in the next five years. Marketers are empowered to embrace this technically advanced next generation of marketing to achieve more than what was ever previously possible.