Technology has become a key piece in companies that, thanks to it, have managed to adapt to the current circumstances imposed by the pandemic. Among the many sectors that have experienced this digital transformation we have advertising and marketing, in which 83% of experts say that their work is being more technology-driven than before, according to the latest "State of Marketing" developed by Salesforce. But not everything revolves around technology in this field. For this reason, Omega CRM, a company that offers global digital solutions that allow the transformation and acceleration of the business through technology and data applied to omnichannel customer experiences, identifies the five challenges, both technological and strategic, that they face and Chief Marketing Officers (CMOs) will face throughout this year:
Technological investment
The binomial between technology and marketing continues to increase its presence in marketing departments. Although 80% of customers agree that the experience a company provides is as important as its products or services, only one in three marketers believe they are using technology to improve CX. In this context of digitization of marketing teams, the CMO has a fundamental role: selecting which technologies are going to be used. Your decision will be strategic since not just any technology will do, but it will have to be a measured, estimated and agreed decision as a pillar of transformation of the company and the creation of competitive advantages over other companies. The commitment to technologies such as Customer Data Platforms (CDPs) that allow the collection and connection of customer data sources will be of vital importance. It is essential that the investment creates flexibility so that the company can adapt to changes in customers and the environment.
Human-centric KPIs
As many as 78% of company marketing departments have changed their metrics due to the pandemic. In recent years, the most important KPIs have been those related to the consumer, such as customer satisfaction, engagement or acquisition cost. As the work of marketing teams becomes more strategic and valuable to the business in general, CMOs must create 'human-centric' metrics with which they are able to add value to their organization. Currently, 70% of the CMOs already align their KPIs for the year with their CEOs, in such a way that the companies present unified strategies, a figure that will continue to grow in the coming years.
Hybrid Marketing Skills
The lack of technological talent in marketing departments is a reality, only 36% of marketers believe that they receive the necessary training for the success of their company. This will be one of the main challenges for CMOs this year, as they will need to build teams that balance technology and marketing skills, combining data insights and advanced analytics with creativity and communication. The continuous training of employees or the hiring of external talent will also be essential to complement and improve marketing teams and their results.
CMO as "Chief Connecting Officer"
Currently, customers and users have changing expectations that must be covered by marketing teams. These have been very flexible in recent years, so much so that 84% of them have adapted their digital strategies according to customer expectations. For companies, meeting these needs will be essential this year and they will bet on real time, omnichannel and personalization. But, in turn, companies must face challenges in the sector such as the lack of talent, have adequate data treatment and opt for the appropriate tools, in addition to taking into account regulatory changes. In this context, the CMO must be able to connect the opportunities to grow companies while CEOs look towards digital channels and business of experience (BX).
Digitization of the channels
Communication channels with customers have been transformed and 89% of marketers have confirmed that their marketing mix has changed in the last year. This new reality has made it more difficult to retain customers and create recurrence. That is why the CMO must advocate for a digitization of traditional channels, offering a greater number of channels of communication with the client, adapting the company to the end user and thus offering a personalized and unique experience. This evolution is encompassed in a major challenge for CMOs this year, who must commit to a model with greater balance in all parts of the customer journey, with greater knowledge of the customer, based on advanced analytics, and continuous and divided engagement. on different channels to build customer loyalty regardless of the channel.
"During recent years, marketing departments, hand in hand with technology, have been increasing their importance as a transversal department within companies. Their ability to know the customer in depth, personalize the company's messages and detect trends in market have consolidated them as pillars for business development.Given this growing importance, the CMOs of companies are in a privileged position to contribute their global point of view of the company and distinguish themselves from the competition, as long as they can stay at the forefront of the sector" David García Fuentes, CEO of Omega CRM.
