Creating data-driven and customer-obsessed brands
Paradigm shifts are afoot in the ever-changing digital marketing landscape. “Customer obsession will be the foundation of organizational success in 2018”, a recent Forrester report highlights while revealing top 3 predictions for CMOs in 2018:
– More budgets will be spent on CX
– Traditional marketing will become obsolete
– Artificial Intelligence will shape marketing in 2018
Drilling down deeper, as the digital marketing landscape shifts quickly with customers demanding more personalized experiences, CMOs are facing challenges to grow their companies. Delivering a seamless customer journey across all touchpoints will be the only way to drive conversions, increase revenue and stay ahead of the competition.
Game Over, Traditional Marketing. Notions that didn’t exist a few years ago — social media, mobile apps, native advertising — killed traditional approach to marketing. In today’s tech-driven marketing ecosystem, consumers choose where they can be found and how they want to receive messages and information from brands. In 2018, marketers will need to rethink their distribution strategies and rely on data to create more personalized and meaningful experiences.
Also, in 2018, CX and marketing tech budgets are expected to increase by double-digits, shifting away from traditional marketing. The report predicts that budgets spent on traditional marketing channels will go down in size and digital ad spend will increase in line with efforts to deliver personalized customer experiences.
Rising Star: CX. Meeting the needs of empowered and informed customers have been putting a great deal of pressure on companies recently. In the age of the customer, CMOs will need to ensure that marketing efforts are aligned with CX strategies to deliver end-to-end experiences.
AI as the New Marketing Engine. To provide better customer experiences, AI and Machine Learning algorithms are expected to enter the scene stronger than ever in order to carry experiences to the next level. The report also explains that without AI-backed technologies, brands will struggle to meet their customers’ expectations.
There is no doubt that 2018 will be a year of challenges and opportunities for companies in the digital marketing landscape. Keeping up with the pace of digital transformation will not be easy for marketers. Those who move faster in this direction will succeed in creating data-driven and customer-obsessed brands which drive growth like never before.