Traditional marketing still transcends Digital marketing three to one when it comes to marketing spending. How is this possible is what’s broiling in my mind? Digital marketing enables targeted reach and measurable outcome.
Creative Digital marketing techniques in various digital channels is what is trending among the general population. However, Gartner’s 2013 digital marketing spending report reiterate the fact that traditional marketing still dominates the marketing arena. Which begs the question, aren’t CMOs and marketers shocked by this revelation? It’s fair to have expansive spending in big leagues events through mainstream media channels, but the numbers suggest that something is not quite at place with what is and what it should be questioning leadership and accountability.
At the forefront of these event is the digital disconnect among the premier leadership, where there is a lingering void between skills and management. As with many evolutions over time, innovation begun with the nascent professionals between the average age of twenty to thirty who bloomed in the social platform where traditional CMOs has very little semblance of the stage and the play. The CMOs of today are driven by speeding creative innovation leaving the dress code behind.
This is reflected in the open source software movement which didn’t take center stage until its early adopters rose in the grapevine. The hackers of old in the crowded dorm rooms are now the Chief Architects and CIOs of world renowned organizations. Subsequently, opens source platforms crossed its threshold when their advocates took their place. Countless CMOs envisions the digital future but they are struggling to cross the threshold which is tightened by insecurity, fear of the unknown and rigidity among the leadership plagues by doubts and prejudices. But the dawn is approaching, the refusal to see the light is fading, excuses are silenced by inevitability of time.
There is a popular notion that digital marketing may not go main stream until its patrons occupy the premier leadership. But the only trajectory of digital marketing is up as digital experience draws consumer engagement and consequently convert them into either online or offline transaction.
Digital marketing present itself with two facet which is illuminating and perilous. Traditional marketing leaves room for vague uncertainty where the number can’t always be absolute which reduces direct accountability for CMOs whereas Digital marketing has an absolute channel of measurement which make the ROI transparent and measurable.
Gone are the days when a good idea can float the CMO for a respectable period of time where, accountability on investment was murky. But with digital approach, every action can be tracked, measure and optimized. The veil has been uncovered for the digital professionals, their actions are visible and the impact can be measure increasing the responsibility and accountability of the CMOs. Times are delicate where a single post can make or break a company. A heavy burden is shouldered upon CMOs.
There are those CMOs who have reinvented themselves in the changing tide and successfully carved a world-class digital marketing organization that can rival the test of imagination and redefined that way we do business.
What sets these CMO’s apart? And what makes them who they are? They are those who tenaciously experiment. They invest heavily on talents and skills and empower them to innovate ideas together and lead the team towards greater heights. They don’t shy away from challenges, accept their shortcomings, trust on their teams and allow them the freedom to take the road not taken and pave the way.
The dynamics of hierarchy in a digital marketing organization is an amalgamation of different elements. Where in certain case, CMO and Chief Digital Officer coexist which according to Gartner will happen in 25% of the organization.
Digital marketers not only work within the gambit of marketing but continuously looks for different avenues to provide experiences that has never been done before which in turn fills up the coffers. which is Gartner’s description of the convergence and mutual reinforcement of social, mobile, cloud and rich information. These unlocks the possibilities of business and engages customer both online and offline. Gartner predicted that by 2017, the CMO’s technology budget will exceed the CIO’s. because in most cases it’s the CMO who is expected to drive this digital transformation, which is deeply dependent on technology. Are the CMOs of today equipped to handle this challenges?
In the light of the evolving demand, marketers and building an arsenal of individuals that can rival any competition, bridging the gaps of the industry in skills and supply of service and looking to disrupt the industry at every turn to drive the business and industry at greater heights. Some competitions are not rivaled between companies anymore but within itself in pursuit of being different and progressively reinvent the ways they do business.