There was a time when CMO used to be a person with a megaphone just trying to make his voice reach to their audience. At that time businesses or organizations were perceived as successful or stable by how they are managing their resources. But that time has passed now, it is 2020 and here the CMO is the person whose duty is to understand their customers.
These CMOs are playing roles as an officer who deeply understands a customer’s buying behavior. A person who knows if the customer is in the decision-making transition, what the customer is about to do next, or influence him at the right moment.
To bring things into the light EIU conducted research and a plebiscite among 499 CMOs. This is where they discussed the trends, technology, and practices that will be beneficial in creating the brand image. As you know, customer experience plays a major role in creating the brand.
These officers have been practicing ‘creating personalized customer experience’ and ‘value creation for customer experience’. As your current audience is equipped with social media and digital technology, creating a good experience for customers is now a big challenge for marketers. People know how to compare brands, ideas, and products and tune for them. Not just this, they are also sharing their individual experience through rating, reviews, and other means.
CMOs are now more focused on creating a trustworthy resource for the organization that not only helps the marketing team but others too. They have been doing their research and analysis of technology, data, and human analysis. All this information has been interpreted as a single best version of customer truth.
Definition: It is the set of information about a customer’s history, preference, and desire. Understanding what value they have in mind for the brand at present and its potential version of too.
This set will not only help the marketing team in strategizing new trends and practices but it will also help other departments too.
The success of the marketing team revolves around maintaining and developing the single best version of customer truth by CMO that can be used by other teams in the organization.
When marketers try to establish engagement, they go through layers of engagement. It starts as finding and retaining the customer. After that, they start to develop the single best version of customer truth. This is generated while the customer is in the journey of making decisions. With the personalization built supporting that customer truth, they win the customer experience. All this results in building value for the brand and customers.
Marketing is now a discipline that is driven by data and technology. That time has gone when data was just a medium to store things happening in a relation. Now, this data is analyzed and implemented to make things actually happen in Customer Business relationships.
Social Media and Mobile are those top mediums that are bringing this data into practical practices. These are the medium that is shaping the customer experience into its best shape possible with every means possible.
Brands have to learn that they need to be ready and to grab or build every opportunity possible to make a better customer experience. No matter how, when, and where a customer is engaging with a Brand, marketing teams need to convert that engagement into the best customer experience by retaining him/ her.
With time, the market is changing at a rapid pace and complexity has also increased with speed and scale. The acceleration in technology pace, use of mobile devices, and rise in numbers of potential marketing channels clearly show that these trends are going to be the future of marketing in 2020.
If we talk about the three trends that will bring change in the business environment, Mobile devices and networks, personalized tech, and IT are going to top the chart in 2020. From these three, mobile marketing will be the one making a big impact on branding and customer experience.
Future marketing practices will be more focused on the customer experience. Personalization built with technology and internal methods will aid marketers in listening and conversing with customers. With this marketers will be able to listen and converse with multiple audiences at the same time and the same branded message. This message sometimes has to be different for everyone due to personalization.
Don’t think that those traditional mass media will be out of the marketing league in 2020. It is just that technology and digital media channel age going to outshine those old channels. Those will be having more value than those traditional methods. These new channels for 2020 are Social Media, Mobile App, and Web.
Today, customers want to interact with brands. They don’t like the idea of getting told what to do. As they see an opportunity to interact with the brand, it creates a customer experience and this is what they like. This experience is far better than the value generated by those traditional print, radio, and tv ad methods. Not just it, mobile has taken over the emails too. Customer experience will be more oriented toward mobile devices in 2020 than others.