When it comes to marketing to today’s consumers, it’s all about data. How you gather it, how you use it, and, most importantly, how you protect it. Massive data breaches at Target, eBay and Neiman Marcus have put consumers even more on edge about how organizations are using their information.
This adds even more responsibilities to the CMO’s role, including finding relevant data from multiple sources and analyzing the information to use it as effectively as possible. Jeanne Roué-Taylor recently covered this shift in focus, and its impact on the CMO-CIO relationship, on Loyalty Lab.
To top it off, the traditional CMO often has a creative background and isn’t necessarily an expert in data science and information technology. Suddenly, new rules call for the CMO to be able to go far beyond brand steward and to scrutinize every expenditure to understand the ROI of using emerging technologies.
In the heat of battle, many CMOs have spent money on SaaS and in-house point solutions that simply don’t play well together, or have the flexibility to morph with the marketplace and customer demands. Managing this massive transformation takes a more thoughtful approach, and the combination challenges CMOs face require an approach that preserves creative engagement while applying the right focus to technology and analytics. Rather than make each technology purchase separately, smart CMOs are building out from a common platform that provides the technology foundation to support analysis while carefully managing privacy, and supports creative flexibility while keeping the focus on being accountable for marketing spend.
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