CMO.com Highlights – New Marketing Technology
Last’s week exclusive content focused primarily on new technologies in the corporate marketing world. As more and more customers are engaging with the majority of their content through digital channels, it becomes increasingly more important for brands to understand them and tailor their content for distribution through those channels. Digital transformation presents plenty of challenges for the company that has always relied on traditional channels, but the firms that develop strategies to meet the digital challenges head on tend to find more success than those that don’t. Brands also have to understand the complexity that digital presents so that they don’t regress to traditional methods that are no longer applicable.
The week began with a recap of the Festival of Marketing in London where presenters discussed the challenges of customer connection and measuring customer’s unique paths to purchase. Lisa Wood, CMO of Atom Bank, stressed the need for brands to tailor communication to the different channels they’re using. Her point addressed the fact that people engage with different channels in different ways, so although it increases the complexity, brands need to adapt their content to the strengths of each channel. Another presenter, Nina Bibby, O2/Telefonica’s marketing and consumer director shared how her company has met the customer connection challenge by focusing on their brand purpose and creating an “emotional attachment” with their customers.
Last week’s CMO.com interview with April Redmond, CMO of Kerry Foods, focused on the need for companies to understand new technologies through testing and learning. The days of relying only on traditional channels are in the past. However, many companies are struggling with embracing digital. Redmond shared how Kerry Foods has been increasingly embracing digital over the last three years and what they’ve had to learn. She also shared how important data is for making decisions on what to focus on in digital channels.
AdRoll’s State of the Industry Report found that most advertisers are still relying on a single-touch attribution model even though the customer path to purchase is much more complex. When the purchasing journey often spans multiple devices and channels, advertisers need to adopt more sophisticated modelling to understand how the different communications channels are working. This also presents significant challenges for how companies divide their marketing budgets.
Katz Kiely, CEO and Founder of Kiely & Co, shared how to use a social media platform like Yammer with a business culture to give employees support through key organisational changes. Specifically, Kiely addresses the need for companies to integrate collaboration and conversation into their company culture. While adding a social media solution is important, Kiely stresses the need to introduce new technologies with clear adoption strategies. She closes with some specific strategies for how companies can harness the power of social technology.
The week ended with less of a focus on technology. Instead, we heard a discussion of employee behavior in how they manage their time and mental energy. Klaus Sommer Paulsen, CEO and Founder of Adventurelab, shared the modern myth that to make a difference, employees must be willing to work an excessive amount of hours. The irony is that when employees start working more than 50 hours a week, they start generating more problems than solutions. Paulsen challenges companies to develop a better team framework for their employees because it not only supports the employees; it’s better for the business as well.
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