Dave Panek, Vice President, Marketing, Teradata Marketing Applications, discussed how leveraging agile marketing can help an organization deliver personalized, cross-channel experiences to customers in his presentation to Argyle's CMO membership at the 2016 CMO Spotlight on Retail and Consumer Goods & Services Forum in Chicago on June 21. In his presentation, "Marketing Agility for the Modern Marketer," Panek examined how organizations are leveraging technology to become more agile.
According to Panek, becoming a modern marketer requires immense agility, particularly in today's rapidly evolving global marketplace.
Technology has changed the way marketers and consumers connect with one another. It has empowered consumers with the ability to provide instant feedback about a company, along with the ability for marketers to deliver targeted messages to consumers at any time.
Today's marketers face a major challenge, however, as they are forced to deal with maintaining an intricate balance between traditional marketing and a push for innovative marketing campaigns.
On the one hand, marketers are dealing with the pain associated with internal rules and regulations they must follow within their respective organizations.
Conversely, marketers are being asked to remain flexible and ready to face new challenges that come their way.
"If you're a marketer, you've felt pain at some point. All marketers have," Panek noted. "At the same time, all [marketers] are being asked to be nimble."
In addition, today's marketers are always being asked to do more with less, Panek noted.
"It's all about driving more content on more channels," he said. "At the same time, you can't just do it in a silo. You're required to do it while working within multiple factions within your company."
Furthermore, marketers must be able to show return on investment (ROI) on their spend. Failure to do so, meanwhile, may result in fewer resources and less budget at their disposal in the future.
"We're all 21st century MacGyvers. We find a way to get things done."
Marketers who possess agility are able to accomplish a wide range of tasks every day.
These professionals are equipped with the skills and know-how to address challenges as they come their way and ensure each task is completed to the best of their abilities.
"We're all 21st century MacGyvers. We find a way to get things done," Panek pointed out. "We're trying to figure out whether we can secure the budget, we're trying to figure out whether we can reuse the content that we have [and] we're trying to find a way to determine whether we can use our gut feel to address a marketing challenge."
The days of traditional marketing are over, and today's marketers must be ready to adapt to the needs of customers both now and in the future.
Technology empowers consumers now more than ever before, and as such, marketers need to rethink how they create marketing campaigns to generate consumer interest.
"We all used to sit down in a very sequential way and plan out a year's worth of marketing activities," Panek said. "We do our marketing based on feels and conventions. ... When you're trying to work in a modern world and you're trying to be agile, that doesn't necessarily work."
Ultimately, an agile marketer is able to respond to change and switch gears at a moment's notice.
"Behaviors change and consumers change, and you need to make sure you're able to address them," Panek said.
Panek also noted organizations must have teams in place that are ready to deal with changes in real-time.
"It's OK to fail. It's about failing fast, adjusting to that and then moving on."
Marketing teams foster collaboration and can work with one another to ensure customers are fully supported at all times.
This collaboration may stretch across departments within an organization as well, ensuring multiple departments can work together to find ways to improve the customer experience.
Marketers are facing an uphill climb as they try to become more agile, and Panek pointed out that these marketers may struggle at times along the way.
If a marketer fails, however, he or she can transform a single failure into a valuable learning experience.
"It's OK to fail. It's about failing fast, adjusting to that and then moving on," Panek stated.
Agility reigns supreme for marketers, and those who are able to connect with customers on an individual basis will be better equipped to foster long-lasting partnerships with customers.
Although many organizations prioritized segment-based marketing in the past, today's marketers must use a personalized approach.
With personalization, marketers can understand the wants and needs of customers at any time. These marketers also will be able to collect and evaluate customer data over an extended period of time and use this information to build long-term partnerships with customers.
"A modern marketer is not just focused on segments, they're focused on the individual," Panek said. "When you're trying to make sure you're addressing an individual, that's a whole new way of marketing."
Across his 24 years of experience, Dave has held leadership roles in marketing, product management, and consulting at both startups and companies including Aprimo, Unica/IBM, Oracle, SPSS, and Epiphany (now Infor). His domain expertise includes real-time marketing, marketing operations, campaign management, and digital marketing. David holds an MBA from Loyola University Chicago.