There’s no real separating marketing and digital strategy in business anymore.
It wasn’t so long ago that common business thinking was that the IT department was the champion of everything digital in a business. In today’s best companies marketing sits at the heart of digital and business development. Marketing’s role is an integral part of understanding how digital transformation can improve the customer experience and drive business growth. It’s also the department that knows how to use the data analytics that result from digital transformation. We explain more below.
Not Your Father’s Marketing
Digital transformation is changing the role of marketing and chief marketing officers (CMOs) by enabling them to collect and analyze vast amounts of data on customer behavior and preferences. This allows for more targeted and personalized marketing campaigns, as well as the ability to track and measure the effectiveness of those campaigns. Additionally, digital channels such as social media and online advertising have opened up new opportunities for engagement with customers. As a result, the role of the CMO is evolving to include a greater emphasis on data analysis and digital strategy.
A Win for Customers
When marketing and digital transformation are integrated, they can impact the customer experience in a number of ways:
Digital technologies allow for the collection and analysis of large amounts of data on customer behavior and preferences, enabling companies to offer more personalized and relevant experiences.
Digital channels, such as online shopping and mobile apps, make it easier for customers to access products and services, and complete transactions at any time and from any location.
Social media and messaging apps allow companies to interact with customers in new and more direct ways, enabling real-time feedback and personalized support.
Technology like chatbots and AI can automate repetitive tasks, providing customers with faster and more efficient service.
Digital transformation can help companies connect the different touchpoints of the customer journey, providing a consistent and seamless experience across all channels.
Digital transformation can empower customers with access to more information, self-service options, and control over their own experience.
Improving Marketing’s Impact With Data and Technology
In addition to being a catalyst for innovation, and creating competitive advantages, digital transformation also offers operational benefits such as increased efficiency, accuracy, and cost savings. Importantly, it enables better marketing decisions to drive business growth.
Improved Customer Engagement
Digital channels such as social media and mobile apps allow companies to interact with customers in new and more direct ways, enabling real-time feedback and personalized support.
Access to New Markets
Digital technologies enable companies to reach a global audience and expand into new markets.
Digital technologies allow for the collection and analysis of large amounts of data on customer behavior and preferences, providing insights that can inform business strategy and decision-making.
Practically every industry and its customer has benefited from digital transformation. As a consumer, consider how easy it is to book online travel arrangements and buy goods and services online. Moreover, the cost of those goods and services has decreased as a result of technology. Marketing heads should have a seat at the table and be empowered to use digital transformation to improve customer convenience, and accessibility, enhance security, personalize the customer experience, and reduce costs. These steps can lead to increased brand loyalty and higher customer lifetime values, leading to more sustainable business growth.