In our latest webinar, MX, a data-driven money management solution, CMO, Don MacDonald (@MXenabled) teamed up with Insightpool’s Senior Marketing Manager, Hillary Settle (@hmbyers), to discuss Insights Driven Marketing and the shift to MadTech. In case you were unable to join us for the webinar, here are a few highlights.
With over 30 billion interactions happening on social daily, we now have access to more social insights than ever before. These insights have become a catalyst for all parts of the product life cycle. With that amount of data, however, brands are becoming overloaded by the data. This influx of data is one of the challenges facing marketers today. Having the ability to dissect all that data and draw insights from it is one of the key skills today’s marketers needs to have. While the traditional question in marketing, “Who is our audience and how do we talk to them?”, remains the same the amount of information available aids marketers more than ever before.
Enter, MadTech. This fusion of MarTech and AdTech is changing the marketing landscape by solving the problem of achieving scale that has been plaguing marketers. Before, the company with the largest budget was automatically the loudest but things are much more sophisticated now. It’s more about which marketing department can make the smartest and most informed decisions versus who can just be the loudest. So, why now for MadTech? It’s simple. The timing is right. We have made the switch from desktops to laptops, tablets to phones, and added wearable devices to the mix. This change has created a space of 50 million devices that are capturing data points in real time. Along with the timing and technology, the acceptance from the consumer is key to the introduction of MadTech.
Armed with access to some of the greatest data sources, the CMO is rising to be one of the most important roles in the company. Businesses are finding that there is a very tight link between growth and understanding the customer. Along with the growth of the CMO, we are also seeing new positions being created such as Chief Customer Officer or Chief Experience Officer. Because of that crucial data access, marketing teams are now sharing Insights Driven Marketing strategies with the CFO and product development teams. They now know more about who their audience is and what they care about. Along with sharing those insights, CMOs are building the bridge between other c-suite executives. As today’s CMOs skills are continuously evolving, these are the core factors that they need to succeed.