In the research Altimeter says this rising demand from the modern consumer means CMOs are investing in technology, something CMOs agree with. Tim Pickard, CMO at Egress, an email security technology provider tells TechMarketers that the Marketing Operations leader at the UK headquartered firm is charged with ensuring the marketing of Egress always has the right technology stack and is optimising that technology.
"Consumers aren't just looking for the best product or price in the early stages of their journey, they're also seeking relevant, meaningful, and immediate assistance to help them make important purchasing decisions," Altimeter say. The report highlights the continued importance of search in this process.
Lead generation is therefore changing and Altimeter's analysis of the scenario is that: "It is not enough to win customers in the earliest part of the customer journey...programs aim to expand opportunities and reach new markets by being highly relevant at every touchpoint."
Altimeter says CMOs need to study the data they have as an organisation to "discover new opportunities to deeply engage their customers at the right time, in the right place" and in the right way.
As a result, it is data that is causing the most dramatic change in the role of marketing. Using data is seeing CMOs become central to cross functional developments in organisations and seeing marketing teams sit with and work in close collaboration with peers in widely different parts of the business. The report cites how gaming leaders Electronic Arts (EA) has marketing data experts sat with the developers and together they create customer experiences.
"Understanding what that data tells them about what customers are doing right now and will do in the future is critical to driving marketing decisions and business growth."
Altimeter advise CMOs to begin the recruitment of data skills and to look for data experts that can "humanise" and make sense of customer behaviour from the data and to use this to direct investment decisions.
Using data will also help technology marketers to iron out potential pitfalls: "Customers hated irrelevant landing pages, annoying ads and cumbersome checkout processes," the report finds.
Place of marketing
"A new breed of marketers are increasingly taking the lead to modernise the entire customer journey and deliver seamless customer experience," the report says adding that increasingly CMOs are working across a number of functions. This is also bringing the CMO closer to the audience through a more intimate relationship with the messaging that is being distributed. As a result Altimeter advises technology marketers to carry out seven improvements to their organisations, including modernising the marketing role to be focused on the customer experience, invest and organise the marketing around data; ensure you have data story telling as part of your processes innovate with technology and measure. Lastly the report identifies the need to engage the entire organisation in customer loyalty and experience.
Tech marketers can access the full report at: www.altimetergroup.com