First English translation of Wilhelm Weber's Determinations of
Racepoint Group Chairman Larry Weber's Presentation at FutureM Boston
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Transcript of Racepoint Group Chairman Larry Weber's Presentation at FutureM Boston
THE CMO and CIOGetting Along for theSake of the Future of Software
VISIONARY SPONSORS
INNOVATOR SPONSORS
PRESENTED BY
TALK ABOUT US! #FUTUREM #C IOvsCMO
Current State of #Marketing
• Marketers increasingly need technology to do their jobs more efficiently & effectively
• IT fueling companies in today’s age of analytics and big data
• Customer experience is priority
• Companies slowly investing in technology, talent and processes to overcome natural Marketing & IT divide
#FUTUREM #C IOvsCMO @TheLarryWeber
The Role of the CIO
• CIO has 2 key roles: o Internal: More traditional IT measures not
connected to CMO like security, cloud, data, governance, compliance, privacy
o External: Helping CMO select & deploy best marketing automation platforms, software
• To equip employees with the tools they need to be effective
#FUTUREM #C IOvsCMO @TheLarryWeber
What the Future Holds
• Marketing execs will spend more on IT and analytics than technology execs
• Marketing will have the support of the CEO, so CIO must develop strong relationship with CMO
• Many CIOs will report into CMOs
• Long term, CMO & CIO must come together to deliver a clear vision and time tables
#FUTUREM #C IOvsCMO @TheLarryWeber
Keys to a Happy Marriage
• CMOs must tell CIOs how Marketing can benefit from IT innovations
• CIOs must participate in discussions about overall Marketing strategy and objectives
• Agree on mutual focus areas (i.e.: customer strategy) and metrics to measure success
• Build strategy around company’s future growth
• Demonstrate value to key Stakeholders#FUTUREM #C IOvsCMO @TheLarryWeber
IT & Marketing Collaboration
• Purchase & browsing data used to target & retarget shoppers through Amazon.com product suggestions
• Data also used within banners on third-party sites & via e-mail marketing
• Data then plugged back into CRM system to create more finely tuned audience segments
#FUTUREM #C IOvsCMO @TheLarryWeber
IT & Marketing Collaboration
• Analytics used to gain more visibility into their online customer loyalty program
• Management compares loyalty/performance data of
marketing promotions with pizza sales/frequency of transactions, then measures against initial goals
• Mobile commerce campaigns then tailored to more effectively increase average order price/frequency
• Previously, managers spent 80% of their time just gathering the data
#FUTUREM #C IOvsCMO @TheLarryWeber
IT & Marketing Collaboration
• CIO & CMO teams researched customers’ emotional reactions to branding/productso Routine banking: customers felt bored or safe o Securing a loan/mortgage: customers felt more
extreme emotions: fear, hope, nervousness
• ING used data to evolve customer service and company culture
• Used to solve problems from a technical standpoint; now they solve problems from the customer's perspective
#FUTUREM #C IOvsCMO @TheLarryWeber
Question & Answer
QUESTIONS?
#FUTUREM #C IOvsCMO @TheLarryWeber
Connect with Me
MY BOOKS:• The Provocateur: How a New Generation of Leaders Are Building Com
munities, Not Just Companies (Random House/Crown Business, 2002)
• Marketing to the Social Web: How Digital Customer Communities Build Your Business (Wiley & Sons, 2007, with a second edition in 2009)
• Sticks & Stones: How Digital Business Reputations Are Created Over Time…And Lost in a Click (Wiley & Sons, 2009)
• Everywhere: Comprehensive Digital Business Strategy for the Social Media Era (Wiley & Sons, 2011)
• The Digital Marketer: Ten New Skills You Must Learn to Stay Relevant and Customer-Centric, due out in Spring 2014
TWEET ME: @TheLarryWeber
EMAIL ME: [email protected]
#FUTUREM #C IOvsCMO @TheLarryWeber