Today, technology’s ability to collect and interpret vast quantities of data means marketers are swimming in reports, often leading to insights which can inform recalibrations in strategy.
But the emerging possibility of “predictive” technology, underpinned by cloud-based AI compute technology provided by vendors like Google, could take things a step further.
In this video interview with Beet.TV, Deloitte Digita’s Todd Paris describes how deterministic and probablistic marketing techniques will be “married together” with emerging predictive techniques, to support business functions that go beyond advertising.
“You can look at the data components, the insights, and you can start to look what’s the next best offer,” he says. “Not just the next best ad, but what’s the next best offer? What content are (audiences) likely going to view over the course of the next 30 days, 60 days, 90 days?
“This is going past just marketing itself. CMOs can use the techniques and the tools, and the platforms to think about marketing activations … (like) what are (users) more likely to click on?
“They also can then start to talk to finance, and to the supply chain folks to talk about logistics. So using the marketing data signals, the demand signals across the value of the enterprise. That’s where I think increasingly CMOs and marketers will tend to move towards.”
This video is part of a series of interviews conducted during Advertising Week New York, 2019. This series is co-production of Beet.TV and Advertising Week. The series is sponsored by Roundel, a Target company. Please see more videos from Advertising Week right here.
]]>“Finding those new things in marketing is one of the most incredible hotbeds of innovation,” Hatch says in this interview with Beet.TV at the Cannes Lions International Festival of Creativity.
When it comes to hiring, Hatch feels that it’s important to look beyond just marketing skills. “It’s much more about mindset and attitude and openness and agility and ability to adapt and think creatively. Because marketing is changing constantly. I love to bring in all kinds of disciplines, unique perspectives as well together.”
Once hires are made, cross-training is a top priority because it helps to create empathy and an understanding of the roles of others.
“We work as a hive and we have to work very quickly, and unless you really understand where the other person is coming from you can’t be efficient,” Hatch says. “We do very light rotations, but in real life you’ve got to test out everybody else’s job. Test drive the skill and the role. And I’m finding that we’re able to develop more hybrid marketers that way.”
Ultimately, Deloitte will still have its share of specialists, “but it makes everybody better and it helps them to be more dimensionalized as marketers and I find it raises the tide of innovation overall.”
Asked by interviewer Joanna O’Connell, VP and Principal Analyst at Forrester Research, how to “instill a sense of understanding of, and empathy with, the inner mind of the CFO” and help others understand the importance of “the language of business,” Hatch says language is everything.
“In marketing we have a glossary problem. We’re literally speaking Russian to English speakers or Mandarin to French speakers. People do not understand what we’re talking about in the C-Suite or in the boardroom at all.”
Hatch pushes her teams to “translate metrics by using the actual native understanding that they do have, which is audience. How do you speak to your audience? Think of them as another audience that you’re trying to communicate with. You have to speak in their language and not yours.”
Marketing has gone from being a cost center to a growth driver and a predictable one., according to Hatch. Moreover, marketing is on the frontline of innovation because “it’s the novel use of products and services as observed by consumers or the businesses that consume whatever it is you’re doing that drive innovation far better than anything else we can build in the R&D department in isolation.”
You are watching Beet.TV coverage of the CMO Growth Council Summit in Cannes. This series is presented by Teads. For more videos from our series, visit this page. Please find all our coverage from Cannes 2019 right here.
]]>But, in this video interview with Beet.TV, Deloitte Digital’s chief marketing officer Alicia Hatch says marketers are suffering at the hands of technology, and need to reboot their perception.
“Marketing was this force, for decades, as a shaper of culture and an arbiter and purveyor of meaning in so many ways,” she says. “And it’s lost some of that glamour, some of that power. Technology’s emerged to be the new sexy for talent, so we’re losing some of our best minds and some of our best talent.
“We really have to remarket marketing. We, ironically, have a marketing problem with marketing.”
Over the last couple of years:
Each of these issues is undergoing various states of repair. But Deloitte’s Hatch says the time is now to, well… “remarket marketing”.
That starts with ensuring marketing is technology-led and “a hotbed of innovation”, Hatch says.
Another industry trend? For for the last year, consulting firms like Hatch’s Deloitte have been coming to the advertising and marketing party, offering advice and even technology to help the transformation.
She says the industry can do that by hiring people who aren’t necessarily marketing specialists but who bring a diverse range of skills.
The interview was conducted at the annual ANA Masters of Marketing conference in Orlando earlier this week.
This segment is from CMO Growth Council presented by the ANA and Cannes Lions. Beet.TV coverage is sponsored by the FreeWheel Council for Premium Video. Please find more videos from the series here.
]]>“It’s about understanding the customer journey pre-, during- and post-funnel, from call center, to commerce, to app development and user experience. Not only do marketers need a broader toolkit, but brands need partners who can help them in an expanded agreement not just in communications but a great digital customer experience.”
Schulman says his goal is to arm the CMO with the type of scorecards and metrics that translate into tangible business results in today’s “always-on” world, rather than just practicing an old school “what commercial do you run in Super Bowl” type of marketing. “What are the best organizational models to be an always-on creator? We have to think of less channel-based storytelling and more holistically as something that will be everywhere and will take different lengths from short to long to medium . . . and what is the content strategy and how much is video? As we think about addressable and using real-time data to power it, that’s where the future is going to be.”
We interviewed Schulman at the ANA Masters of Marketing annual meeting in Orlando. This video is part of a series produced at the conference. Beet’s coverage is sponsored by Cadent. For more videos from the series, please visit this page.
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