- Index hide
CMOs must be up to date with the latest advances in technology to create effective digital strategies.
The digital consumer is getting more and more complex, but we can use data analytics to understand their needs.
More than half of CMOs do not have the necessary knowledge to carry out effective data marketing.
The data marketing goes beyond recording databut allows them to be analyzed in favor of the brands
The data marketing It is used to design strategies that focus on data analysis, where the CMO’s must position their sights.
The evolution of technologies has considerably modified the consumption habits of the population around the world, where the internet has played a vitally important element in the business world. According to the Digital 2022 study carried out in a joint effort by We Are Social and Hoosuite, as of January there were already 4,950 million users connected to the internet worldwiderepresenting 62.5 percent of the world’s population, who spend an average of almost 7 hours browsing on all types of devices, a fact that brands use to their advantage to increase the number of their sales and positioning.
Each of these users leaves behind a long history of clicks, permanence, decisions and behavior that is recorded in the virtual world, data that can be used for brands to effectively segment their respective target audiences and in this way carry out your digital marketing and advertising strategies directly into the hands of potential prospects.
Also, the high influx of users on the web It allows different professionals to work in this technological world, such as those specialized in e-commerce, web analytics, SEO and SEM specialists, UX-UI designers, SEO specialists, SEM and even those who develop in cybersecurity. , who together can find an area of opportunity to lead a company to success, thanks to an effective use of web data.
An example of how this is reflected in the business world is the increase in electronic commerce during the pandemic, since, according to data from Statista, During 2021, online sales in Mexico registered revenues of up to 17.3 billion dollarsfigures that are thought to continue to grow to reach 2025 and represent 19.3 billion dollars, that is, a growth of 11 percent, a fact that would not have been possible without the knowledge and effective use of user data in the web.
There are different factors to consider when registering the success of a brand, but there is no doubt that one of the most important in the success of a company is the Chief Marketing Officers, also known as marketing directors or CMO’swho are in charge of developing and supervising the company’s marketing and advertising actions and report directly to the CEOs, whose main mission is to increase the sales and growth of a company through a plan that promotes the development of a brand and position the organization over the competition.
It is due to evolution of the digital world and changing consumer needs that the CMO’s must be increasingly up-to-date with the latest information on their objectives in order to be successful, a fact that they can achieve thanks to the data marketingin which they must integrate their efforts.
The data marketing goes beyond recording databut rather allows them to be analyzed in favor of brands, which could result in considerable cost reduction, better decision making, understanding consumer needs and offering better business strategies that directly influence sales growth, if You have the necessary tools to do this.
According to the report from the Capgemini Research Institute called “A new playbook for CMOs, why CMOs should enable real-time marketing to drive sustainable growth“Three-quarters of CMOs are now responsible for using the use of data and technology in your favor to boost the value of a brand; however, not all of them have the necessary knowledge to carry out this, since less than half of these professionals claim to have acquired the necessary technological and data skills to be able to offer data-driven marketing.
According to the study, only 44 percent of CMOs say they have an adequate amount of skills in areas like artificial intelligence and machine learning, or computer science. data analytics or data science. Likewise, only 45 percent of them have knowledge of digital social marketing and 46 percent have sufficient knowledge of augmented and virtual reality.
The digital world is gaining more and more followers, so CMO’s must be constantly preparing in this area in order to be able to solve the new needs that are acquiring the consumers digital (as we can see today with NFTs).
preparing within the dating marketing It would allow endless opportunities to be explored in their favor, since, in addition to allowing better market segmentation and boosting their sales, they could also save considerably; The study mentions that currently 60 percent of marketers work with data providers, while 46 percent work with marketing technology companies and that only 24 percent mention that they will incorporate this capacity in the company in the next two or three years, so they could avoid investing and depending on other companies if they bet on integrating the data marketing within your efforts.
The data marketing It is an essential element to have a clear vision of our strategies, as well as to promote the growth of a company to bring the ideal consumer the products and services that they really need, in other words, the new responsibility of the CMOs.