MANAGING in the

NEW WORLD

Chief Marketing Officers (CMOs) have unique challenges these days propelled by innovations such as cloud computing, business analytics, social media, smart phones and gigantic heaps of data. That is why it is important for them to prioritize functions and realign the company’s focus in that direction. First of all the disparate streams of data from different sources need to be interwoven together to derive cohesive meaning. The data warehousing operations done must deliver customer value. This will help in providing relevant solutions to the customer base. Costs are being controlled by leveraging social, mobile, analytics and cloud technologies as has been done by Cisco. Instead these investments like events and tradeshows are being driven towards training the people or new technologies such as on automation or loyalty programmes. Habits also need to be modified accordingly. For example the content needs to be tailored specifically for the relevant audience rather than mass campaigns. Data needs to be replicable to be a success in overseas markets as well. The CMOs can no longer simply allow the CIO to provide all technology support as marketing has becoming increasingly driven and not just reliant on technology. The CMOs needs to understand basics of data security.

Source:http://www.forbes.com/sites/onmarketing/2014/04/29/why-cmo-leadership-is-essential-to-data-driven-marketing/#2215e1261555

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