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“Consumer goods companies put digital in the communications area because they see it as a channel,” TrinityP3’s Darren Woolley says. According to Andy Lark, former global chief marketing officer of Foxtel, Xero and CBA, marketers should be the agents of change within companies. More than four in five marketers (84 per cent) in a recent global study say turning marketing and IT into strategic partners is vital if they are to maximise the return on their marketing technology investments. Accel Partners’ Kobie Fuller sounds a note of caution to marketers thinking about embracing “experimental technologies” such as virtual reality, the Internet of Things and beacon technologies, however. In fact, customer consultancy Bluewolf warns that if marketing departments cannot evolve to encompass the full customer experience, the reverse will happen. Read a job description of the company. It’s no wonder: digital marketing and social expertise, data analysis, new technology platforms and other aspects of marketing can no longer be contained in silos but must be disseminated throughout organisations. IAG has launched IAG Labs, responsible for “driving digital and innovation across IAG and its brands”, led by its chief digital officer Peter Harmer. Only two in five marketers (43 per cent) control their company’s customer data, according to a recent study in Britain, although that figure has increased from one in three (34 per cent). A chief marketing officer is a corporate executive who is tasked with overseeing the marketing activities5 P's of MarketingThe 5 P's of Marketing – Product, Price, Promotion, Place, and People – are key marketing elements used to position a business strategically. “Words like ‘campaign’ need to be ‘conversation’. A growing number of corporations have appointed a marketing technologist to help bridge the gap between marketing and IT, helping the organisation to gather and act on insights from the data it captures, and get the most out of the marketing technology stack it is building. “As well as acquisition, if your product is digital you should also focus on customer retention, which you can service in a different way. This title is similar to or the same as a chief of marketing, chief information officer or chief marketing officer. “If marketing’s not embracing technology, it’s going to fall behind,” he says. The overwhelming trend in marketing is to centralise. Thirty-eight per cent of them think IT keeps them out of the loop, and 35 per cent think marketing concerns aren’t a high enough priority, according to a report in Wired magazine. It’s an area in which Gainsight, which helps companies measure the health of their customer relationships, specialises. “It needs to have technology as one of the centerpieces of how it’s working across an organization.”. “Different teams were starting to work that way but as a whole organisation, it’s very new.”. Coupled with that, boards know they must ensure their organisations are focused on the customer and are looking for ways to bring that focus to the fore. You designed the product, you made it, you sold it, you served it, and every department was relatively independent. Sprints are kicked off with a sprint planning session, during which work on the backlog is discussed and prioritised, the capacity of the team to get through that work is estimated and the process is then managed via regular standups at which staff self-report their progress on tasks, and any obstacles holding them up. Marketing is increasingly working with product and sales to develop a single customer view. As marketing has come to depend more on technology, and marketing teams have come to work more closely with digital and technology teams within their own company, so have many of the organisational principles of Agile software development crossed over into general business practices and marketing. Leadership refers to the ability of an individual or an organization to guide individuals, teams, or organizations toward the fulfillment of goals and objectives. Chief marketing officers can expect to earn a more than decent salary, depending on their qualifications, experience, and geographical location of the job. “My role came about because of the challenge the business has translating strategy into technology (and vice versa),” Pattison says. You need to listen at an industry level, a topic level, a company level and a personal level. “But in the subscription economy, where it’s about creating a subscription experience, all that changes. First it launched the Mobile Futures technology innovation program that saw it partner five of its brands with five tech startups as a way of accelerating innovation and fast-tracking the understanding of mobile technologies within the company. The elements of brand management may be tangible (such as the product itself, pricing or packaging) or intangible (personal experiences of customers). In this model, teams are not grouped by marketing discipline and channel. Thank you for reading CFI’s explanation of Chief Marketing Officer. Chief Engineering officer 7. Telcos have been among the first marketing organisations to use data to become more customer-centric. “This shift leads to bigger budgets, and ultimately, more hiring in marketing to support the various services that don’t require the heavy infrastructure. It followed that with the Media Innovators program, which saw nine of Mondelez’s digital brand teams compete for a share of a million-dollar advertising budget earmarked for digital innovations. Servicing existing customers becomes paramount.”. “One of the core functions of a modern marketer is managing change,” he told a Marketo Marketing Nation event in Sydney. “People come from various departments, such as customer service … and operations,” Gomez says. Chief Executives Manager(CEM) 6. In an ideal world, the chief marketing officer will emerge with a more flexible marketing department structure, a permanently enlarged area of responsibility, greater demand for the new, broader range of skills the portfolio now requires – and one foot permanently in the developing technology space. “The whole world is moving towards a subscription economy,” says Tzuo. Formal collaboration processes and establishing a “collaboration ecosystem” become really important, she says, along with the right governance model. Not only have traditional channels to market such as mass media been disrupted, advertising models have become less effective and social media has become a pervasive influence on customers. When few outside the ‘cool kids’ understood marketing via digital channels, it was often a silo within the marketing organisational structure, within IT, or on its own. “If marketing’s not embracing technology, it’s going to fall behind,” says Accel Partners’ Kobie Fuller. “CMOs have so much more power now because they can prove their value in the business. In some larger organizations, however, those positions are separate and the CMT reports to the CMO. Meantime brewer Lion split chief marketing officer Matt Tapper’s role, following his promotion to chief executive of the international division. 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