Marketing has changed drastically in the last few decades. With the changing expectations of consumers and the countless innovations in technology, these changes are also happening more rapidly than ever. At #Dx32017 we put together a panel comprising of experienced marketers that discussed how the role of a marketer is changing in today’s world, how marketing organizations will be shaped in the future, and how we can change the way we work with our teams today in order to get ahead of the curve. Here are the key takeaways from the session.
Karla Congson (Moderator), CEO/Co-Founder – Collective IQ
Betsey Chung, CMO Banking and Wealth – BMO
Jennifer Holgate, VP Marketing – Walmart
David Allard , Vice President Integrated Marketing Communications – Coca-Cola
Peter Reitano, CEO & Co-Founder – Abacus
“We are living through an era of
-Karla Congson, CEO/Co-Founder of Collective IQ
1. Changes in the Field of Marketing
While brand has been and will always be important, the way we achieve great brand building has evolved over time. You can achieve great brands through advertising but the greatest brands are achieved through customer experience.
Established brands are looking into separating brand management from integrated marketing and trying to understand who they are and how they can work best.
With the advancements in the field of marketing, there is tons of data available but brands need to understand that it is not just about having big data, in order to succeed, you need to understand how to use it.
2. What key marketing areas and skill sets are established brands investing in?
Betsey Chung, CMO Banking and Wealth at BMO, reiterated the fact that there is no better time to be a marketer. Companies are Investing in data management platforms that merge 1st party, 2nd party and 3rd party data, which allows marketers to make smarter and well informed decisions.
On the resourcing side, brands are increasingly investing more and more in digital strategy, marketing technology, e-commerce, procurement and trying to find the talent that can understand the opportunity that we have available. Procurement.
Experts are also being leveraged to teach professional topics at professional bootcamps.
3. The Relationship between Data and Creativity
Brands are constantly trying to figure out ways they can marry data and creativity.
Creative is still very important, on its own, to breakthrough in the very crowded market but it is different and does not exist independently of data anymore. You can be creative and data savvy at the same time.
“With the right data, you can talk to the right people and figure out what’s working and not working.
You can identify cause and affect
and squeeze out more ROI. ”
Peter Reitano, CEO & Co-Founder of Abacus
Content is still incredibly important but you can no longer merely push tons of it out. It has to be delivered in a way that customers enjoy and has to tell a story.
“Creative thrills but data pays bills.”
David Welch, ex VP of Marketing at Adobe
4. With the changes in marketing what are some of the practical day to day realities brands have to address?
It is about changing the way brands do things today and updating the skill sets of the people we have who do things. What is right for a brand now may not be right for it several weeks from now. As a result, marketing needs to be collaborative instead of linear and teams need to be come together and build on efficiencies and be proactive instead of reactive.
“We are talking about subject matters and horizontals instead of brand verticals. The net hope is that we have more collaboration.”
David Allard, VP of Integrated Marketing Communications of Coca-Cola
There are a lot of tensions in the marketing field and it remains to be seen how the marketing team of the future will address them.