Marketing Transformation
Leading consumer goods companies are embracing a new vision for marketing. The evolution of the digitally connected consumer lies at the core, dramatically changing the dynamic between brand and consumer relationships and transactions. Digital has reached a tipping point, with digital ‘omnivores’ – driven by Millennials globally – expecting instant access anywhere, anytime. Seventy-five percent of consumers cite that information on social channels influences shopping behavior and brand loyalty, and digital disruption is creating new forms and access, significantly changing the traditional consumer goods channel landscape. This month, CGT sits down with Jennifer Lacks Kaplan, principal at Deloitte, to discuss how the Chief Information Officer (CIO) is emerging as a key leader in driving the marketing transformation required for consumer goods companies to win in today’s digital marketplace.
What are the most significant marketing transformations for consumer goods companies today?
Kaplan: First, the movement toward more personalized engagement. The consumer goods marketing model is rapidly changing from one-way, ‘broadcast’ messages, focused on product, to targeted, interactive engagement, driven by customized content and promotions.
Second, the need to build connectivity into all aspects of marketing, driven by social media and our 24/7 world — harnessing social communities to build relationships and foster consumer advocacy and orchestrating a consistent, brand enhancing shopping experience across channels.
Third, the use of data science and analytics for insights in all aspects of marketing activity to inform decision making, improve spend effectiveness and facilitate ‘real time’ responsiveness in the marketplace. For example adapting messaging, campaigns and spend based on performance.
How are these new ways of marketing changing the role of IT?
Kaplan: Transforming marketing requires new technologies. New platforms to enable surgical targeting (DMP), marketing campaign automation, digital asset management and e-commerce/web/mobile. And contextual architecture that can provide data, images, video, and transactions dynamically — based not only on who consumers are, but also where they are, what they’ve done, and what they’re likely to want next.
Increasingly, consumer goods marketers are recognizing the need to leverage these technologies. IT is emerging as a key partner to marketing and leaders in marketing innovation, spearheading efforts to build an intuitive enterprise — driven by new technologies, new ways of working and enterprise wide data and platform integration.
How can CIOs drive marketing transformation?
Kaplan: Successful marketing transformation requires CIO and Chief Marketing Officer (CMO) collaboration, which is on the rise. Leading consumer goods CIOs recognize the sense of urgency, and proactively drive a shared vision and greater collaboration with their marketing partners. A recent Deloitte study analyzed over 54,500 pieces of social media content mentioning CIOs and CMOs. The study revealed the following drivers of successful CMO/CIO collaboration:
What are the most significant marketing transformations for consumer goods companies today?
Kaplan: First, the movement toward more personalized engagement. The consumer goods marketing model is rapidly changing from one-way, ‘broadcast’ messages, focused on product, to targeted, interactive engagement, driven by customized content and promotions.
Second, the need to build connectivity into all aspects of marketing, driven by social media and our 24/7 world — harnessing social communities to build relationships and foster consumer advocacy and orchestrating a consistent, brand enhancing shopping experience across channels.
Third, the use of data science and analytics for insights in all aspects of marketing activity to inform decision making, improve spend effectiveness and facilitate ‘real time’ responsiveness in the marketplace. For example adapting messaging, campaigns and spend based on performance.
How are these new ways of marketing changing the role of IT?
Kaplan: Transforming marketing requires new technologies. New platforms to enable surgical targeting (DMP), marketing campaign automation, digital asset management and e-commerce/web/mobile. And contextual architecture that can provide data, images, video, and transactions dynamically — based not only on who consumers are, but also where they are, what they’ve done, and what they’re likely to want next.
Increasingly, consumer goods marketers are recognizing the need to leverage these technologies. IT is emerging as a key partner to marketing and leaders in marketing innovation, spearheading efforts to build an intuitive enterprise — driven by new technologies, new ways of working and enterprise wide data and platform integration.
How can CIOs drive marketing transformation?
Kaplan: Successful marketing transformation requires CIO and Chief Marketing Officer (CMO) collaboration, which is on the rise. Leading consumer goods CIOs recognize the sense of urgency, and proactively drive a shared vision and greater collaboration with their marketing partners. A recent Deloitte study analyzed over 54,500 pieces of social media content mentioning CIOs and CMOs. The study revealed the following drivers of successful CMO/CIO collaboration:
- A mutual understanding of evolving roles — the CIO as a digital leader, the CMO as leveraging technology for insight and engagement.
- Putting the consumer and consumer experience at the core of decision making.
- Expanded governance and shared KPIs. For example, establishing separate marketing data and technology governance to balance marketing’s need for speed with IT’s need for compliance, security, privacy and integration.
- Development of cross functional teams, which enable organizations to fill talent gaps and develop new skills in real time.