The Changing World of Marketing by The Economist Intelligence Unit & Marketo
If you think that marketing has been transformed in the past five years – you ain’t seen nothin’ yet—in fact, hang on to your hats.
For the past three months, Marketo and the Economist Intelligence Unit have teamed up to uncover exactly what is on the minds of the marketers around the world, and where they think marketing is going. Here is a quick snapshot of what we discovered:
- The marketing organization needs to change
- The marketing organization needs to invest in developing and adding digital marketing and customer engagement skills
- Managing the end-to-end customer lifecycle can’t and won’t happen without the use of data and technology
- Marketers believe they will no longer be viewed as a cost center in three to five years—rather they will be seen as a source of revenue
- More than any function within the company—marketers believe they will be stewards of the end-to-end customer engagement and experience in three to five years
To me, these roles and responsibilities are a radical departure from the days of elaborate storyboards, PowerPoint and cute advertising made just to make us laugh or cry. It tells me that marketing is becoming the strategic center of corporations big and small. It tells me that if you are going to be a successful marketer in five years—you had better invest your time to learn how to:
- Dissect data and put it to use
- Leverage technology so you can scale
- Listen to your customer and respond appropriately
Don’t get me wrong, as a marketer and a person, this weekend’s Super Bowl commercials will be fun to watch. I’ll laugh with the best of them, and I am sure a few will make me choke up. But the creation of those $4.5 million, 30 second spots is not the ONLY job of marketing anymore. In fact, over the next couple years, a successful Super Bowl commercial might not even be a measurement of success for a CMO. Savvy marketers understand that.
Watching the massive impact social media has had on the marketing landscape over the last 5 years has been incredible. That tidal wave—combined with pervasive use of mobile computing—has kicked off an amazing transformation that has engulfed all of marketing and it is not receding. The challenge for us all, as marketers, is to ride the wave and embrace it to its fullest—because the future of marketing is just getting started.
I encourage you to check out the full report, The Rise of the Marketer: Driving Engagement, Experience and Revenue. I’d love to hear what you think about the future of marketing. Share your thoughts about the report’s findings in the comments below.