Chris Clark: how has data changed the role of the CMO?
Customers have changed the dynamics of the boardroom.
They’ve torn down the walls separating the once siloed and distinct domains of CMO, CIO and CFO, directing attention to the importance of collaboration.
Collaboration is inescapable, because for marketers to implement informed campaigns steeped in business objectives, the voice of the customer must be omnipresent.
This need for collaboration largely comes down to social media, the ultimate democratizing, mass communication tool that allows anyone to promote themselves, express opinions and share ideas through just a few swipes and taps of the smartphones that line their pockets.
It has turned brand loyalty into a distant memory, and whereas customers used to choose a brand and stick to it, now, they can quite easily jump from brand to brand, something Chris Clark, Group Head of Marketing for HSBC believes had made the role of the marketer a shadow of its analogue self.
The voice of the customer must be omnipresent.
“years ago, you essentially bought some media and then went down to the pub.”
In the 21st century, the role has been transformed by data, the increased proliferation of technology has opened the doors to truly data-driven decisions, contributing to helping marketers achieve a single, dynamic customer view across multiple channels.
This marriage of tech and marketing largely shapes the way the modern marketer works, and the bond is only going to grow stronger.
Gartner recently predicted that by 2017, CMOs will spend more on IT than their counterpart CIOs.
This could be problematic, because with so much data being amassed by marketers, Clark believes it is “easy to drown.”
“When someone says the words big data I start to try and hide under the desk because I think I’m going to get rather cross with a bunch of slightly flannelly things here.”
Instead, Clark suggests marketers need to return to basics if the industry is to remain effective.
In this week’s episode, Chris Clark discusses the importance of maintaining the voice of the customer in everything marketers do, as well as the new marketing era of data and analytics.