As the digital business movement accelerates…
- Marketing teams, big on ideas but short on resources, will forge deeper partnerships with providers (even competitors); they’ll get more aggressive in crowdsourcing ideation to customer advocates (to innovate faster and expand their value propositions); they’ll find more ways to sell products online, move toward massive customization, and make data driven customer insights part of more decisions.
- Marketers will also push their teams to adapt to an even more collaborative buying process as customers and prospects find it even easier to tap each other’s opinions through social networks, mobile apps and wearables (which will quickly move beyond the health and fitness markets). Marketers that resist designing experiences for the mobile/social, collaborative-hungry buyer will lose; those that skillfully encourage these interactions will win, not only share, but margins and growth;
- CMOs will lean on their teams to diversify – to grow beyond their traditional markets – and through digitalization – sell new products to new customers (e.g., through internal startup-style businesses). CEOs are seeing how emerging technologies make it possible to tap markets that were previously unavailable due to geographic constraints (or customers too hard to find through old demographic models) – and they will expect marketing to step up.
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With regards to the first item: crowdsourcing and B2B eCommerce are two areas that we should all seriously consider as a part of our medium term plans. If your offerings are conducive to eCommerce, you’ll want to test.
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