June 29, 2014

Information Technology for Marketing, Marketing Technology Function and Chief Marketing Technology Officer

Marketing Technology Function - Emergence In a Strong Way (2014)

Information technology has given initially the ability to reach a customer personally and quickly to marketers. Presently big data technologies are providing the ability to find what is important to customers at a point in time and provide that information quickly and personally. Now all activities of marketing have a digital interaction. The stage is now set for leveraging the information technology to deliver more for the marketing performance.Every technology adoption has an effectiveness improvement dimension and efficiency improvement dimension.

The interface between marketing activities and information technology has grown to such a significant extent that a new function called marketing technology has appeared and many are being designated as marketing technologists. In 2014, Gartner reports that 81% of companies in its survey have a chief marketing technologist or equivalent title post. Businesses with $500 million to $1000 million have taken up this structure in a big way.

Marketing technologist provides value by being able to decide what to build as a pilot test and deploy, by acting as a filter between software vendors and the company and introducing marketing information technology into company by acting as a bridge between IT and marketing.

Marketing technology persons needs to be both left brain user and right brain user. He is to be an analytical person but has to come up with ideas that work and excite customers. While currently experienced persons are not available to man this function and companies are investing their resources in developing these persons. Some companies are employing team approaches to employ this function rather than giving the responsibility to a single person.

Digital Marketing - Options and Tools - Infographic by Gartner

Big Data, Big Opportunities in Marketing - IBM Presentation - 2013


Real Time Marketing Technology

Technology has changed marketing and market research into real time activity. Marketers are looking for opportunities to send outbound messages: email campaigns, events, blogging, tweeting, PR, ebooks, white papers, apps, banner ads, Google Ad Words, social media outreach etc. The marketeers are trying various options, tools and techniques to attract customers to their sites, to their offers and to their communities and improve their marketing performance.

Baynote is an interest mining product. It combines click stream, semantic stream and engagement information to personalize product and content recommendations to align with the intent of the visitor

Customer Analytics Payoff
IBM Report - September 2011

In the report, four stages in analytics use are described. The first stage is use of analytics to reduce cost of communication. In this stage, analytics were used to find redundant communication and remove them thus doing some cost savings. In the second analytics was used to make right offers to the customers based on history of transactions. In the third stage, predictive analytics that do sentiment analysis of the conservations in social media are used to proactively develop conversations with the customers.

In the fourth stage, all channels used by the customer are simultaneously monitored and multichannel next best action approach is employed to practice real time guided selling experience. The study indicates that at this fourth stage companies are reporting 241 to 64.3 percent converted response rates.


First post after reaching million page view milestone on 28 June 2014

1 comment:

  1. First Post on 29 June 2014 after reaching the million page view milestone on 28 June 2014.