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Digest...
1. We identified six different archetypes of marketing technologists. See the infographic. 2. Less than 26% of today’s marketing technologists have a STEM undergrad degree. …and just 19% had a STEM (Science, Technology, Engineering, or Math) graduate degree. 3. Marketing technologists come from both marketing and technology disciplines. Marketing managers are the #1 job leading to a marketing technologist. But as a category, a technical or programming background is the most common. In other words, they’re doing things with technology they never expected. 4. Just 8.6% of marketing technologists reported to the CIO. And speaking of their job, most of them don’t report into the CIO. Instead, most report into the CMO (31.4%) or CEO (23.9%). In sum, 64% reported into the CMO, CEO, CIO or similar SVP roles. 5. Just 7% of those surveyed have marketing technologist in their title. While 78.9% of companies have an individual or a team to manage marketing technologists in our study, most of them don’t have “marketing technologist” in their title. Instead, marketing, business, or technology titles dominate. 6. Five skills — across both technology and marketing — emerged as table stakes. Our respondents ranked 44 job skills by importance for the future of marketing; the top five are marketing strategy and positioning, target market identification, website design including responsive and adaptive, CRM systems and platforms, and the ability to persuade and negotiate. 7. Surprisingly, there are large skills gaps in both technology skills and, to a lesser degree, marketing fundamentals. The marketing technologist of today may not be trained in traditional technology, but they’re increasingly being asked to provide expertise on these areas. Marketing technologists identified significant gaps in the hard technology skills they ranked as most important — big data and customer relationship management. 8. Marketing technologists are much more excited than stressed. The good news — they are much more excited than stressed. 74.3% reported being extremely or very excited, but just 42.9% reported being extremely or very stressed. ___________________________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
You can almost picture yourself in the room. It’s the time of year again where the marketing team has to put together a strategy, a plan and a budget for the next fiscal year. After carefully considering the seismic shift that is happening across the digital web, the team has come back and said it is time to eradicate the marketing of old. Doing things differently is the only way. However, too often these days, the C-suite is not amused. Therefore they find holes in the “new way” as it is unproven, or lacks reach; but maybe it isn’t proof or reach at all that is to blame, but rather the lack of vision from the C-suite that is turning their back on the evolution of marketing? Marketing must evolve, and comfort must be left in the rearview. The way things have always been done isn’t the way they should be done going forward. Unless you believe the consumer landscape hasn’t changed in the past 5-10 years. Oh, and in case you aren’t sure…It has. ___________________________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Five areas you need to bring up to date:
Internal structure: Most marketing teams are organized by either functional expertise (such as social media marketing or marketing analytics) or brand. To be a successful digital marketing organization, your team needs to be organized by functional expertise rather than by brand, project or platform in order to deliver coherent, integrated campaigns across all consumer touchpoints. Functional alignment: Digital marketing teams need a seat at the table so they can infuse digital-first marketing insights into product and technology planning. Website feature changes should not be released without thoughtful analysis of the potential impact on traffic. Email marketing templates should not be altered for design reasons without a/b testing the impact of the change on click-through rates. Meritocracy vs. hierarchy: In traditional marketing organizations, job responsibilities and titles are hierarchical and rarely fluid. Each role is clearly defined and limited in scope. The new digital marketing organization thrives on a less hierarchical structure with more flexibility and an emphasis on meritocracy. Data-driven decision making: In digital organizations, immediate data allows marketers to be smarter and faster in their decision-making. It is time to capitalize on the marriage of traditional and digital marketing data. Digital marketing insights can guide the strategy of traditional marketing and verse versa. Governance: A few forward-thinking organizations are doing without a chief marketing officer, and instead have given the job of leading marketing to a chief digital officer. The question of who owns digital marketing in an organization is often uncertain. Accountability for digital revenue, digital product innovation, omnichannel strategy, and online audience growth blurs the line between many traditional roles from marketing to technology to product development to strategy. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
Eighty eight percent of companies said they are going through a formal digital transformation effort this year, according to the report. The trend is one marketers should pay attention to, as 54% of companies surveyed by Altimeter said the mandate to lead the digital transformation is driven by the CMO. CEOs, the report found, champion digital transformation 42% of the time, with CIOs coming in at 29%. Respondents were asked to select all that apply. The report comes at a time when many companies are implementing new technology across the board. Marketers are investing in social media management tools, marketing automation platforms and mobile friendly redesigns. Sales and customer service are quickly adopting customer relationship management (CRM) software. And the list goes on. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
One way in which the CMO position gains power is when the CMO is given the additional responsibility of other functions. For example, we have seen marketing organizations take command of sales, public relations/communications, product development, and major parts of information technology management – and many have advocated for more expansions of marketing’s scope. Here, research I have conducted suggests that greater power to the CMO can yield benefits to a firm. For example, in my research on power mentioned above, results show that when CMOs have the additional responsibility of sales, firms deliver superior growth. Notably however, only 15% of the CMOs studied had such a dual responsibility. As for our finding that the marketing+PR dual responsibility for the CMO has a positive impact on firm profitability, a closer look at the data reveals that this is only true of firms selling primarily services (versus goods). A logical explanation we propose is that service firms have richer and more granular customer data, as well as multiple touch-points, and thus are able to gain the synergistic benefits facilitated by such a dual responsibility. Research on this issue, still in its early stages, is being pursued by many of us in the academic field. Meanwhile, the more firms invest in recruiting and retaining the right CMO in an appropriate position of power, and the more that CMOs invest in taking the right job and doing it right, the more likely we are to see success stories. This in turn should lead to more firms appointing a CMO, thus ensuring that marketing gets the attention it deserves at the highest levels of the firm. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
We saw four themes emerge from the presentations, our research, and our discussions with ITSMA member attendees: 1. Link Marketing Activities to Business Outcomes Marketers need to make the shift from campaign facilitators to business outcome producers; from tactics and execution to aligning marketing objectives to the business priorities. The newly released research report from ITSMA and VEM, The Link Between Marketing Performance Management and Value Creation, found that despite the fact that 60% of marketers we surveyed are creating dashboards, most business executives are not using marketing data to make decisions. The main reason? Marketers are not tracking business outcomes and speaking the language of the business. They aren’t measuring and reporting what matters to the C-suite. 2. Improve Storytelling Story telling is the new mantra of marketing. Marketers, through their content, aim to change the way customers see the world. That’s also what stories do. The best stories take us on a journey that leaves us changed; as marketers, we must understand who the audience is, where they are now, and where we want to take them. 3. Narrow Your Focus Although every brand aspires to be household name, the reality in high value/high consideration B2B marketing is that there are only a relatively small set of companies that will ever buy your services and solutions. An even smaller segment will account for the majority of your profitable revenue, which builds the case for account based marketing (ABM). 4. Mind the Skills Gap You have heard this before: marketing has changed more in the last 5 years than in the past 50. Marketers need new skills and organizational models. What will the marketing organization of the future look like? How will we staff it? Bev Burgess, senior vice president, ITSMA Europe cautioned us to “Mind the Gap,” using a metaphor from the London tube. What is this gap? The difference between the expected marketing results with the existing talent mix and the accelerated results from the infusion of new talent and skills: storytelling, analytics, social and digital media, marketing technology, and so forth. In many cases, it is a chasm! __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
While “marketing” and “brand management” are often treated as synonyms, there is an important distinction between the two terms. Marketing focuses on the activities associated with the promotion and distribution of products and services. Brand management has, for many, been historically focused on identity management but is now much more concerned with the active management of the market value and competitive strength of a brand as an (intangible) company asset. But the decision to now move on from having marketing directors (a term P&G have been using since 1993 and that itself replaced the term “advertising directors”) indicates to me that for a scaled house of brands, the competition to ‘stand for something’ might be increasingly globally rather than regionally driven and that the focus could be shifting away from promoting products to driving up overall perceived value of the brands individually and as a portfolio. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
In my experience working with fast-moving, innovative companies, I’ve seen CMOs face the following top roadblocks to doing: 1. Follow The Money. When you set aside dollars for innovation, the immediate result is a decrease in efficiency. As a result, you often doom tests with inadequate funding and too-tight timelines. A quarter of a year like this, and your conservatism is likely to be reinforced. 2. New Realities, Old Structure. This whole budgeting problem is accentuated by the structure of most organizations, in which the CMO runs marketing and someone else runs the development of the product or service. Of course, that isn’t the world we work in today. 3. One Little Letter (CEO vs CMO). The CMO may perceive the CEO to be sending mixed messages. On one hand, the CEO expects significant gains in marketing efficiency. On the other hand, s/he is enormously impatient to see evidence of a new model in marketing. 4. Chickens Eating Eggs. The challenge with the budget ends up being a chicken and egg conundrum. You can’t budget because you can’t project. And you can’t project because there are no tests from which to safely extrapolate. If the efficacy could be proven, the money would be there. But without the money, the efficacy cannot be proven. 5. The Fog of Novelty. There’s a novelty bonus in marketing that can be huge. Deep down, the marketer knows that these results can’t be extrapolated into an ongoing program. 6. Too Much Change to Manage. There was a time when the innovations arrived like babies, one at a time, and only occasionally in twos or more. That couldn’t be further from the way things are today. 7. The Hole In The Org Chart. One approach is to create a new C-level position encompassing both product and marketing – The Chief Growth Officer. The business of business is growth, and organic growth will be the Chief Growth Officer’s mandate. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
1) Business is About Belonging Successful businesses make people feel like they belong to an exclusive group of people or community. Some of the newer extreme athletic events, like Tough Mudder and Spartan Race, do a great job of this. But you can do this, too. If you can legitimately create this kind of environment of belonging, you’ll see more opportunities flow your way. 2) The Monchu is the Media Chris stated that Mochu is an Okinawan word that means “one family.” But more specifically, it’s the family you choose. As a business, it’s up to you to choose your “family” and people that you want to serve (your target audience) and other people and companies to partner with, formally or informally. Build this out and create valuable content that addresses your monchu’s wants and needs. 3) Commit to Clarity & Integrity Defining and publicizing your mission is important, no doubt. But weaving your mission throughout your story and your content are just as important. And having a clear mission can help you make tough decisions about product development. Does this fit our mission? Yes—explore further. No—kill it. Even if it might generate some revenue. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
Of course you still need a compelling product and cool ads (or messaging.) But once the prospect is a customer, continual engagement depends on over the top data driven insights. It's no longer enough to just sell the hammers and saws and let the buyer go build their house. You need to monitor how they are using the hammer and saw. You need to deliver success by guiding their use of your product based on the behavior of your most successful customers. You need to leverage your position as the center of your customer universe to share best practices quickly and efficiently. The only way to do that at scale is through data. The message is that in a world of shrinking product cycles, cheap knockoffs, and copycat services, data marketing is the new source of differentiation. No one else has the data you (should) have on how customers can be most successful with your products. Use it to attract and retain the best and leave the rest to your competitors. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
To keep you on track, or perhaps make up for lost time, here are six recommendations to put in place now to ensure you meet or exceed your 2014 marketing goals. 1. Marketing Goals Align — or realign — your marketing goals with the company’s business goals. 2. Attribution Models Ensure that your attribution models are both measurable and transparent. Whether the customer journey is a long and winding road or a one-stop path to conversion, be sure that your attribution models accurately identify and appropriately reward each marketing channel’s contribution to the sale, according to their level of involvement. 3. Performance Marketing Programs If you’re running performance marketing programs, spend time reconnecting with your publisher community so you can update them on your campaigns and goals, collectively brainstorm on new ideas, and better understand what they need from you to be more successful. 4. Joint Marketing Opportunities Explore these marketing opportunities with business partners. As you strive to reach your year-end goals, don’t overlook the business partner ecosystem. It’s a great way to accelerate product development efforts, be introduced to new audiences, and increase overall awareness of your company. 5. Analytics Data Dig into your data and use analytics to identify trends, gain more insight into customer behavior, and better understand how past performance influences future results. 6. Improve Your Bottom Line Identify the areas within your organization that could be leaner and meaner as this will also help you reach your goals and improve the bottom line. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
Step 1: Find common cause. To restart the relationship with IT, you need to look for a rallying point that both you and your CIO can whole-heartedly get behind. Based on conversations we’ve had with CMOs at Fortune 500 companies and other global corporations, this scenario goes something like this: Step 2: Roll up your sleeves, and map it out. This will take some elbow grease, and a few brainstorming sessions, but chances are, between the two of you, you can draft a pretty darn good marketing technology vision and roadmap. One that not only has a two- to three-year shelf life, if it’s done right, but can also provide your teams with the collective sense of where “we” are going (together) and which lily pads we need to jump across to get to the other side of the pond. Step 3: Pressure test After Step 2, you should be about 70 percent on target, so it’s time to pressure test. Here’s where you gather input internally from your IT and Marketing lieutenants, and then do some external benchmarking to see how you stack up against industry norms on the roadmap capabilities that matter most to your business. Step 4: Pick a catalyst project. With confidence from step 3, look to your roadmap for a project that Marketing and IT can join forces on that delivers a quick win. Marketing and IT should co-fund AND co-resource the project, so they both have skin in the game. Keep the scope tight. Pick just a few marketing-use cases for the project to deliver on, not the whole enchilada. Remember, you’re looking for proof points in driving results and in showing the rest of the c-suite that Marketing and IT can worth great together. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
There’s a massive gap between the bottom 35 percent of marketers, with conversion rates from .5 to 1.9 percent, and the top 20 percent, with conversion rates of nine percent or higher. So what’s the difference? Adobe’s study highlighted five key differences between winners at the top of the spectrum and losers at the bottom of the barrel. 1. Data-driven decisions First, the majority of top online marketers test to make decisions, and they make those decisions based on data. 54 percent of unsuccessful marketers say that “testing is not a priority,” while only 30 percent of top-performing marketers say the same. 2. Investment in optimization Top online marketers are 54 percent more likely to spend at least five percent of their budget on optimization, which includes technology, agency fees, and professional services. 3. Targeted content “For many, content is the new advertising,” Adobe says, and the top 20 percent of online marketers are much more likely to target their content so that it is personalized for website visitors. Some of that is done manually, but successful marketers are 83 percent more likely to automate content targeting with the aid of data. 4. Beyond the marketing department According to Adobe, the top 20 percent of digital marketers are “88 percent more likely to engage other departments for contribution and expansion of their testing effort,” and those who do “see a lift in conversion from the average of 2.6 percent to 4.3 percent.” 5. Focus on mobile Most marketers are familiar with the importance of mobile, but the top fifth of marketers are still ahead of the curve: 83 percent of them say that mobile is key to their cross-channel marketing, as opposed to 67 percent of the bottom four-fifths. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Digest...
1. Transformation requires reframing
Keynote speaker Malcolm Gladwell gave numerous examples (from seat belts to urology) of how transformative thinking and innovative new ideas often require a complete reframing of the problem, not to mention how they are approached and executed. 2. Customer-centric marketing isn’t new, but we still generally suck at it 3. Predictive analytics will increasingly be a differentiator
Process, content, marketing automation. All important for world-class marketing organizations. But in 2014, predictive analytics has emerged as possibly the single-most important technology and competitive differentiator for marketing to adopt and leverage. Simply put, platforms such as Lattice Engines and Infer can help you mine & leverage the vast amount of data that exists across the Web relative to your customers and prospects to customize messaging, approach, offers and more. 4. Intelligent growth happens primarily by design
SiriusDecisions outlined a model for “intelligent growth” on the first day of the Summit, including the five primary means by which companies grow: 1. New Markets, 2. New Buyers, 3. New Offerings, 4. Acquisitions, and 5. Productivity Gains. 5. Sales & marketing are in this together 6. Sales enablement programs are still primitive 7. Centralized demand center roles can increase efficiency, leverage & results 8. Content is king, context is king, and conversion is the ace! 9. Disrupt & cannibalize yourself if you hope to keep competitors at bay & keep growing __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Intermediate/ Digest...
Here’s what [the author tells her] clients who are seeking benchmarks, market statistics, or thresholds that otherwise look like a guideline for, or barometer of success. I can give you a number, but that doesn’t mean that delivering against that number will create value for the business. Worse yet, if you align to that number, but still fail to deliver against organizational or program goals, then that benchmark I gave you was worthless. In the case of our survey, dig in a level deeper and understand what is driving the investment, the resource allocation, or the trend shift. Yes, indeed, compare your numbers, but then ask, is there logic in the gap between my investment and theirs? Are we justifiably, and perhaps strategically, different? Or, perhaps, is there something that is reflected in the CMO numbers that is driven by a shift in consumer engagement patterns…or another force that, regardless of sector or business model, will in time come to impact us all? __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Advanced/ Condensed...
At its best, innovation is about exploring a wide range of bold, new ideas that challenge the status quo — often questioning assumptions that an organization takes for granted. Many of these daring experiments don’t work out, but that’s okay, as long as they “fail fast.” You’re panning for gold, which means sifting through a lot of dirt. On the other end of the spectrum, optimization is about refining a raw idea — making it more effective and efficient. You’re exploiting a previously discovered innovation. You’re leveraging assumptions about an idea to scale it up, to standardize its execution across your organization. You’re turning those gold nuggets into priceless jewelry. There’s another two-ended spectrum in marketing: front-end experiences and back-office operations. Marketing used to be mostly concerned with customer-facing communications. But as the scope of marketing has expanded into “experiences” along the buyer’s journey, the importance of software and data in marketing has grown significantly — as have the roles of marketing operations, marketing analytics, and marketing technology management to support these new capabilities. These two axes — innovation and optimization, and experiences and operations — intersect. You can innovate customer experiences and optimize them. You can innovate internal operations and optimize it. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Intermediate/ Condensed...
Automation presents important opportunities for marketers. But people still have a critical place in our increasingly automated world—and organizations that ignore the role that living, breathing human beings play in the marketing automation process risk leaving both money and market share on the table. 1. Question outcomes Technology can explain what occurred, but it can't tell you why it occurred. The ability to ask the questions that drive effective marketing is uniquely human. And in many cases, the lack of a human presence causes organizations to repeat the same mistakes, severely limiting the performance of campaigns.
2. Eliminate divisions
Machines can facilitate collaboration, but they can't initiate it. The integration of humans and technology in marketing automation creates new opportunities to break down organizational silos and streamlines the achievement of critical business goals—outcomes that can't be produced by a technology-only system designed to focus on isolated metrics and siloed marketing functions. 3. Encourage cross-channel sharing In the same way that organizational silos limit collaboration, strict channel divisions reduce the overall impact of marketing initiatives. SEO campaigns and PPC campaigns are natural bedfellows. But too often, the insights gleaned from SEO aren't shared with and implemented for PPC (and vice versa). Additionally, insights from both PPC and SEO can benefit social, email, and other marketing channels. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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Intermediate/ Digest...
Brand should matter to b-to-b organizations. Aligning a b-to-b organization around one story and expressing it in a consistent manner throughout every touch point is key to generating more business. 1. Brands should not only align around a core purpose, but also demonstrate their impact in a manner that a consumer (meaning anyone) finds tangible. 2. Bring consumers into the business process, most notably R&D and innovation. 3. Get consumers (who work at the companies b-to-b marketers are selling to) to help you generate business demand. 4. Use design and brand thinking to clarify your portfolio. __________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
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