Evolving technology means nearly everything about the customer experience is changing—including the role of the CMO. That’s according to Maggie Chan Jones, CMO of global software company SAP. Maggie draws on her years of industry experience to navigate the changing customer landscape. Where the buying journey used to be linear, the best marketers must now adapt to changing consumer behaviors. Marketers used to rely on the traditional marketing funnel, which moved each customer along a track until they made a purchase. However, today’s customers go in and out of different stages of the buying process, which makes understanding the customer more important than ever before. Instead of walking customers through the now-non-existent linear buying process, brands should work on engagement and building trust with the customer so that they feel comfortable making the purchase whenever they are ready.
As the customer market becomes more complex, brands are struggling to simplify and survive. Complexity can be a drain on customers and on business resources and takes more than 10% of profits from many companies. To avoid complexity, work to simplify your processes and help customers find what they need quickly. The more options a customer has, the more time and money it takes for the company to provide them with what they want, when most times it is just a simple answer to a question. Maggie recommends using innovations and technology to solve customer problems, but to never lose sight of each person you are trying to reach. Even with the newest and best technology, your goal is still the same: to create a quality, personalized experience for each customer. No matter what happens, marketing is still about connecting with people. Before adding in technology, take a step back and consider where you want your company and customer to go. With the processes and goals in place, you can then add in the right technology to reach the end point without becoming too complex. Consider the people and the journey they will have with your brand—everything should focus on the customer and breaking down complexities to make things as simple as possible.
Whereas CMOs used to focus largely on big-picture marketing campaigns, they will soon, if they haven’t already, take on more responsibility than ever to drive bottom-line growth. In many cases, this means having a strong understanding of changing technology and even taking over responsibilities that were traditionally held by the CIO. Machine learning, which Maggie believes is still in the early stages, has the power to lead to big analytics. To better understand the customer, CMOs must be able to decipher big data to find the right analytics to drive growth and connectivity for their company. Big data can provide amazing customer insights, but only when it is used correctly and understood. The use of digitization and big data helps brands stay relevant and in tune with their customers so that they can implement changes and programs while they are still relevant.
Today’s customer landscape is fast-paced and ever-changing. To lead their teams to success, CMOs need to have a strong grasp of both large-scale analytics and small-scale customer engagement.