How Integration of Technology and Marketing Can Drive Innovation and Improve Revenue.
Today technology is transforming marketing. In the 21 century it is emerging that the investment in integration of IT & marketing can generate big returns by powering brand-building techniques to drive top-line growth in new ways. However implementing this vision is a huge challenge.
- How do you make IT the enabler for marketing to achieve top-line growth?
- Why are end-to-end processes superior to point solution?
- How do you get a 360-degree view of your customer through the convergence of marketing and technology for holistic customer relationship management?
- How is IT integral to building brand equity to increase customer lifetime value CLV)?
All these questions are those that need an answer in the today and are challenge for the new marketer.
What is the context of the integration of marketing and technology?
- Brand-led growth process: Customer are at the beginning of the brand-led growth process.
- Insights-generation process: The availability of new types of data, high volume of data and new ways of processing the data can generate new insights, to drive innovation.
- Integration of process and technology: The volume and complexity of the data require a new combination of process and technology to accelerate the insights-generation process and to make it repeatable and highly productive.
- Technology-driving innovation: The new marketer has for challenge to use these insights to create innovation and initiatives to change attitudes that cause changes in customer behavior that are monetized in purchase, loyalty, and share of requirements.
- Knowledge management and sharing with all marketing and sales practitioners, researchers, etc…
- Work flow and process management such as long- and short term brand planning, annual marketing plan development, new product launches, and communication campaigns etc…
- Measurement of outcome result with complete packages of marketing objectives, goals, strategies etc…
- Budgeting and integrated finance that marketing budgets are not more separated from operating budgets.
- Inherently, the marketing organisation has more complicated areas, it is difficult to build systems to integrate these areas.
- Marketing personnel turnover is faster than other parts of the organisation, therefore it is difficult to get someone in the marketing organisation that wants to take on and own a large scale technology implementation project and program because of the duration and the amount of effort required to drive it successful.
- Very heterogeneous data sources (ca. 200+) of information. However, it is difficult tracking and integrating all these, in order to make marketing function easy, it request IT competence.
- Marketing leadership has never seen IT as strategic because the are focused in finance, sales, and operations groups as partners.
- Auditing ad hoc is very difficult, marketing does not have common processes in place and tends to be very ad hoc in comparison with supply chain management, who follow standard processes.
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