Marketing is the cornerstone of any successful business. The difference between a thriving business and a struggling operation is the type of tools they employ in marketing their business. In essence, the Chief Marketing Officer (CMO) has work to do. In this jet-age where every action we take is monitored digitally, it might be a good idea to leverage this opportunity as a CMO and quicken the growth of your business.
Advancement in technology further engenders advancement in every sphere of life. From business to health care to education and sports, no stone is left unturned. There are technological tools which, if exploited, will help CMOs see better results as they work. Some of the tools are listed below
Prior to the internet, collation of vital information involved tons of paperwork, phone calls, and sometimes, home visitation. Then, the award for the best marketer went to the CMO who could trek farthest, or who could make the most calls. However, all that is history now.
So how does Big data help in marketing? Big data and analytics have provided a platform whereby data concerning each client is readily available. More so, the information provided is accurate and up to date. With just a click, you can access your client’s browser history, shopping preference, and even favorite media content.
With this, consumer interaction is better, making it easier to know which products and services to market to which client. This saves you the stress of blindly putting out advertisements which might not interest the customer.
After collecting large streams of data, the next step is to process and make sense of the data presented. By allowing machines learn these data sets using sophisticated algorithms, you can understand your customer’s behavior and even predict the consumer market.
So how does Artificial Intelligence help in marketing? When you employ AI as a CMO, you begin to identify deeper connections between your customer’s choices and their engagement with your content. With the number of connected devices estimated to be 75 billion in 2020, you will have a plethora of data sources to work with, but can you process it?
A survey was carried out and it was discovered that 85% of marketers who utilize the technology of influencer marketing find it effective. Influencer marketing is a process by which social media influencers come up with unique content; structured to appear as organic as it can be.
The aim of influencer marketing is to appeal to the youthful demographic who are more inclined to engage with ads which are less commercial.
As a CMO, when you use these subtle forms of advertisement from both influencers and brand champions, your online awareness amounts to sales.
Many people wrongly infer that anything associated with blockchain involves cryptocurrency. This is not necessarily true. Blockchain is a form of decentralized system whereby transactions are authenticated and secured by smart contracts.
So how does Blockchain Technology help in marketing? As a CMO, when you initiate transactions with blockchain technology, operations are completed within seconds! You can also store your myriad of data in a location where cybercriminals cannot access it. The immutability of records stored on the blockchain network means that the data stored is secure and cannot be compromised. This earns you the trust and loyalty of clients.
The world is your oyster; technology is your tool. You have no excuses for failure!
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