Amazon can do it, so why can’t you?
In an increasingly complex business world, marketing has become a lot more difficult recently – truth be told, the complications have been creeping in for years. First, it was multimedia, then database marketing, web, email and social. These days, talking about marketing through individual channels is almost laughable, because we now have the somewhat nebulous challenge of having to deliver ‘experiences’ and ‘services’. To add to that complexity, those experiences should happen across multiple channels and devices. Oh, and make it seamless.
Clearly, the way a marketing team used to work and the tools they used to use (looking at you, MS Office) is not going to cut it. The positive takeaway from this is that most of you know it, you’re just not so sure that the rest of your organizations do!
The CMO’s dilemma
We’ve discussed this topic at length elsewhere. Any concern the CMO has is sure to filter back into the business within a quarter or two. The first response has been a fairly predictable one, primarily focusing on buying new tech and apps. We are already several years into this cycle and it’s kept the wolves from the door for a while, but there’s a bit of a problem – only a fraction of the investment is actually being used. Swapping out old platforms for new ones without some (serious) soul-searching around operating models and staffing has resulted in increased operational expenses – but maybe not the efficiency gains, service improvements, or wicked data insights expected.
The good news here is that many businesses are gearing up to plug the gap, and the majority of CMOs and their organizations (that we spoke to) will be accelerating their MarTech re-skilling programs. While this is positive, there is still an unfortunately smaller percentage that’s actually prepared to change their operating models. This is probably a case of deferring the pain to another day, and the reality is that the value and ROI of MarTech is primarily unlocked through the way we do things – not necessarily the tools we use to do them.