Joel Boyd, Senior Product Marketing Manager, Sitecore, explored digital technologies and their impact on today's chief marketing officers in his presentation to Argyle's CMO membership at the 2016 Chief Marketing Officer Leadership Forum: Fall Event in San Francisco on Nov. 10. In his presentation, "I Dream in Digital," Boyd examined how the evolution of digital may make it easier than ever for CMOs to maximize the value of customer data.
According to Boyd, marketers now have the ability to leverage technology to find out when customers visit a website, how they interact with a site and more. As such, marketers who can collect customer data may be able to better understand a company's target audience and discover the best ways to foster long-lasting partnerships with customers.
"If you took the time to analyze what visitors were doing and interacting with on your website, you could take that information and create these custom, tailored experiences for them that were both highly relevant and contextually aware," Boyd stated.
Meanwhile, the Internet of Things (IoT), virtual reality and other state-of-the-art technologies may revolutionize the way consumers connect with businesses. These technologies also could transform the way marketers engage consumers for years to come.
If marketers devote the necessary time and resources to understand new technologies, they may be able to adapt to these tools faster than their rivals. Thus, marketers that deploy the latest and greatest technologies could improve the customer experience and help their respective organizations stand out in a highly competitive global marketplace.
"Technology continues to advance, and when there's widespread consumer adoption of technology, it puts pressure on us … to take up the challenge and adapt," Boyd said.
Marketers who understand the true value of technology could find innovative ways to break down data silos as well.
In the past, marketers may have collected data from a broad array of online sources, but the sheer volume of information could prove to be overwhelming. Or, marketers may have struggled to deploy technology that would enable them to retrieve customer data from multiple online sources with ease.
"Technology continues to advance, and when there's widespread consumer adoption of technology, it puts pressure on us … to take up the challenge and adapt."
Today's marketers can reap the benefits of superior technology that helps them eliminate data silos. Now, technology ensures marketers can access a wealth of customer data, mine this information quickly and effortlessly and use customer data to understand a company's target audience.
Marketers can use customer data to drive unprecedented customer experiences too. If marketers can obtain and evaluate customer data, these business professionals may be able to find distinct ways to engage customers and build customer loyalty.
"We are literally living in a world where if you can dream it, you can digitally accomplish it," Boyd noted. "[The world] is becoming more and more of a digital world and less and less of a real world."
Ultimately, technology ensures marketers can learn about a business' target audience and provide customers with first-rate experiences consistently.
Marketers who deploy data collection and management technologies will be able to learn about a business' customers over the course of a day, week, month or year.
"Technology is striving day after day to break down those barriers that once held us back."
In addition, marketers will be able to understand why customers may select one brand over another, how customers feel about a company, its products and its services and various customer behaviors and trends. That way, marketers can leverage numerous data collection and management technologies to overcome data barriers that otherwise would prevent a company from engaging its customers and providing them with timely, pertinent information.
"Technology is striving day after day to break down those barriers that once held us back," Boyd said. "The question really becomes: Are we willing as corporations and as brands and as marketers to accept all of these technological advances that are customer-designed."
Perhaps best of all, technology empowers marketers to understand customers on a personal level.
Data collection and management technologies ensure marketers can retrieve a massive assortment of customer data and gain meaningful insights from it without delay. Also, these technologies give marketers the insights they need to make more informed business decisions, and as such, help a company optimize the time and resources at its disposal.
"[Marketers] are charged with understanding our audiences and getting into the psyche of what makes them tick," Boyd pointed out. "But we're limited in our data collection capabilities as human beings."
With data collection and management technologies, marketers can help a company gain a competitive advantage over its rivals, one that may serve this business well for an extended period of time.
Marketers who embrace data collection and management technologies will be better equipped to keep track of customer behaviors and trends that a company's rivals – something that could help a business find new ways to keep its customers happy. Furthermore, data collection and management technologies may help marketers optimize the return on investment (ROI) of their marketing campaigns and discover the best ways to help a business extend its reach.
Joel is Sitecore's renaissance marketing man and lead product marketer responsible for driving Sitecore’s Experience Marketing Platform around the globe.
A hybrid of sales and marketing with over ten years of experience in high-tech companies such as Oracle, Marketo and Symantec, Joel has lead sales and marketing alignment across multiple enterprise software companies. When not orchestrating the latest product launch or campaign, you can find him creating a huge mess in the kitchen as he fashions his latest culinary inspiration while cheering on his Michigan Wolverines.