As we look ahead to 2014, we expect the pace of change in marketing to only continue to accelerate. It seems like you can’t leave your desk these days to grab a cup of coffee without coming back to another change–a new marketing software entrant, an acquisition announcement, a major shift in consumer behavior, or an advance in marketing analytics. However, there are a few broader trends and patterns that have emerged. Here are 5 trends we believe will continue to have a significant impact on digital marketing in the new year.
2. 2
Contents
#1 - Rise of Marketing Technologists
#2 - Trust and the Social Era
#3 - Advanced Marketing Analytics
#4 - Marketing Agility
#5 - Smarter Content Marketing
3. 3
Trend #1
Rise of Marketing Technologists
!
CMOs will increase hiring of marketing
technologist and marketing operations roles.
4. 4
Marketing Technologists
Combining marketing, technology and analytics skills
• Software is growing in importance to almost every facet of marketing
• Chief Marketing Technology Officer
- A cross between the traditional Chief Marketing Officer and Chief Technology Officer roles
- Provides strategic guidance to how to best take advantage of the growing number of marketing
technologies.
- Focuses on traditional technologies such as customer relationship management as well as
analytics, marketing automation, mobile marketing and social media marketing
• Marketing technologists and marketing operations pros bring technology
and analytics skills as well as deep marketing skills
5. 5
Pi-shaped Talent
A unique blend of capabilities
Overlap
Marketing
Technology
Collaboration, Empathy, Interest in
Other Disciplines, etc.
6. 6
Trend #2
Trust and the Social Era
!
Businesses will invest in ways to measure and
increase levels of trust with their customers.
7. 7
Trust
An essential of the Social Era
• Behavioral economists have changed the way we look at consumer buying
behavior
• Marketers have learned that economic life is pervaded by culture and also
depends on moral bonds of social trust
• Companies with strong brands are winning in the marketplace because they
understand a simple yet profound truth: that the social capital
represented by trust is just as important as physical capital.
• In the Social Era, cultivating trust is one of the most important activities that
companies pursue
• Marketers must help their organizations measure and improve trust
9. 9
Trend #3
Advanced Marketing Analytics
!
Progressive firms will invest in predictive
analytics, prospect scoring and defining
customer lifetime value.
10. 10
Marketing Analytics
Moving beyond traditional web analytics
• The world is quickly being divided into the “haves” and “have nots” of
marketing analytics
• Firms that have moved toward data-driven marketing will continue to
develop and advance their analytics capabilities
• In 2014, we’ll see more marketing organizations move beyond traditional
web analytics and into true marketing analytics and marketing intelligence
capabilities
• This will include advances in the ability to predict responses, understand
customers, and quantify the lifetime value of different customer segments.
11. 11
“If we look back just ten years, the
CMO’s job was 90 percent creativity
and 10 percent science. I think now
we’re at 50-50.”
Michael Lazerow, CMO of Salesforce Marketing Cloud
13. 13
Agility
Operating at the speed of the digital and social era
• Agile is a discipline picked up from software developers and it’s being
applied to marketing teams. Agile teams follow core principles that shape the
way they work. Those principles include:
• a bias toward action;
• responding to change;
• emphasis on collaboration (people and their interactions) and,
• iterative work cycles that deliver something of value.
14. 14
Test and Learn
Testing and improving through iterative cycles
• Companies are finding that the best way
to approach the integration of creativity
and analytics is through agile marketing
techniques
• Many are investing 30 percent or more of
their marketing budgets into these types
of “test and learn” tactics
• With agile marketing, teams of creative
and analytics pros work together to
create ideas and then use data to inform
and test as they are introduced
15. The process pulls tasks from a backlog to be completed in short iterations.
Agile Marketing Process
Overlap
Sentiment
Analysis
Used to interpret conversations
on social media, blogs, and
online forums
15
16. 16
Process Is The New Black
Process improvement is key to data-driven success
‣ 42% of marketers say that lack
of process is the top obstacle
to using data insights in
decision making*
‣ Opportunity exists to use
process improvement methods
to cut cycle times and
streamline processes
‣ Integrate data-driven culture
into core marketing processes
* Source: Teradata Data-Driven Marketing Survey 2013, Global
The
New Black
17. Agile teams report impressive results
Results with Agile
17
14
57
29
Failed
Challenged
Successful
42
49
9
Waterfall Agile
Source: CHAOS Manifesto, The Standish Group (2012)
18. 18
“We want to get our culture, our agencies, and
everyone thinking more like agile
developers….The greatest successes for me have
always come about from having small, small
teams being free to move forward quickly.”
- Winston Binch, Partner and Chief Digital Officer, Deutsch LA
18
19. 19
Trend #5
Smarter Content Marketing
!
Marketers will improve their content marketing
programs by using data to target content to
specific segments and evaluate content
effectiveness.
20. 20
Smarter Content
Improving the effectiveness of content marketing
* Source: Teradata Data-Driven Marketing Survey 2013, Global
• Content marketing will continue to be a focus for many marketers in 2014
• However, many will turn their attention to improving the quality of content
rather than creating more and more of it
• Central to this effort will be the use of data and analytics to better target
specific content and to evaluate how well each piece of content is performing
• Marketers will improve their ability to provide the right content, at the right
time, via the right channels to the right customer segments
21. 21
Content is Key
"In the middle of difficulty lies opportunity"
“68% of CMOs say
they are shifting
budget from traditional
advertising to content
marketing”
Custom Content Council 2012
Significanlty Increase
Increase
Remain the Same
Decrease
Unsure