Customer expectations have always been tough to match, but never has the challenge been as great as right now, in our always-on world. CMOs face the daunting task of striking the perfect balance between being relevant and safeguarding a customer’s privacy—a tough job when relevance involves leveraging customer data. A brand can only disappoint a customer once when it comes to privacy; managing customer trust is a difficult job.
And Then There’s the Data
Beyond the relevance and privacy concern, CMOs need to find and manage massive amounts of data, both historical and real time. This data isn’t found in one place—it’s found in many, and it needs new levels of connectivity to make sense and be useful. Without it, marketers can’t discover patterns themselves using visualized analytics and can’t apply the math that seeks trends an data combinations that the eyes can’t see.
From Creative to Technical
To top it off, the traditional CMO often has a creative background and isn’t necessarily an expert in data science and information technology. Suddenly, new rules call for the CMO to be able to go far beyond brand steward and to scrutinize every expenditure to understand the ROI of using emerging technologies.
In the heat of battle, many CMOs have spent money on SaaS and in-house point solutions that simply don’t play well together, or have the flexibility to morph with the marketplace and customer demands. Managing this massive transformation takes a more thoughtful approach, and the combination challenges CMOs face require an approach that preserves creative engagement while applying the right focus to technology and analytics. Rather than make each technology purchase separately, smart CMOs are building out from a common platform that provides the technology foundation to support analysis while carefully managing privacy, and supports creative flexibility while keeping the focus on being accountable for marketing spend.
The platform approach, starting with access to an unlimited amount of disparate data, is the only plan that makes sense for true transformation
This post first appeared on the Loyalty Lab blog and has been lightly edited.