The pace of change is changing
In the past centuries new disruptive technologies and concepts were launched every 30 to 50 years. In the new millennium the pace increased with disruptive technologies emerging every 5 years. We are currently living in an era where a new disruptive technology is launched almost every day. CMOs were not educated to cope with this kind of perpetual technological revolution.
The new digital customer journey
Twenty years ago everything was much simpler: when we needed to buy something we just went to the corner shop. We picked up our stuff and went home. Things were simpler in those days for marketers. Brands just tried to demonstrate their value proposals through mass media –such as TV and radio - or, for the most sophisticated ones, through personalised direct mailing campaigns. The job of maintaining relationships with the customer - the most important part - was left to the local shopkeeper. Then came the Internet. We started comparing brands, specifications and prices before making a purchase, all from the comfort of our homes. In the mobile Internet age the shops are brought to us wherever we are. Social recommendation apps even tell us where we can find the best-rated shop in the area on the basis of our friends’ comments. And the buck does not stop here: after purchasing we cannot resist to show off our newest purchase in a Facebook update or a tweet, influencing our peers once again. All of these channels and touch points tell the CMO lots of things about their products and customers, but few marketers know how to leverage this knowledge.
Every CMO should ask their teams:
“What triggers our customer’s buying behaviour?"
Customer centric content
In an increasingly technology-driven world customers expect brands to have a presence across different channels and provide them with a relevant and unique experience in each of these channels. In a society where time is very precious, a company that targets you with relevant customised content is very valuable. According to research by Captora 61% of consumers are more likely to buy from companies that create custom content, that literally “speak” to them at the right moment. But only a very limited number of companies are equipped to deliver such an experience to their customers. The answer to the needs of these new digital customers is to be customer-centric. Every CMO should ask their teams: “What triggers our customer’s buying behaviour? How can we guide our customers throughout their buying journey? How can we deliver 1-to-1 experiences to the customer?” Customer tracking and real time activation is the best survival tactic in such a fast changing market with so many competitors. It will come as no surprise that you will need data and technology to deliver on this vision. It is the only feasible way to track customer behaviour and deliver the right content to the right customer at the right time in their buying journey, in an automated manner.