Where do the CMOs gather info on new products, services, technologies, directions?
Arun Pillai, February 15, 2019
In this digital age, consumers armed with the latest smartphones and the fastest possible internet connection have become more empowered than ever before. Consumers, at the click of a button, have access to information. They will conduct exhaustive research, solicit opinions, read customer reviews and then finally, decide on when and where to buy the product.
While the consumer is empowered, what happens to the CMO sitting on the other end of the spectrum? Is he empowered enough?
These are interesting times indeed. With technology getting all pervasive, CMOs have a tough task ahead in terms of how they gather information on new products and technologies to help move in the right direction.
So then, where do CMOs gather information from?
Marketing events and conferences
The obvious places to be at, are the marketing events and conferences held across the globe. Events conducted by reputed organizations such as The CMO Club bring in a host of high-profile speakers and marketing veterans.
Valuable insights and interesting inputs out of years of having executed strategies are shared at these meetings. Attending such events not only helps CMOs stay up-to-date on new products and services but will also help realize the kind of direction they will need to take.
Events such as the B2B Market Exchange provide spotlight on what’s happening in the B2B Marketing world. These events help gain insights on how CMOs must be prepared to handle the latest trends, technological advancements and customer expectations.
Some of these events/conferences also have C-Suite representatives such as CIOs, CTOs and CEOs who share their experiences on how success can be achieved when CMOs collaborate with other functional departments. Such C-Suite events provide CMOs with broad outline on what is expected out of them and how they can contribute at the C-Suite level.
#MarTech events are the best places to know and be aware of the latest things happening at the convergence of Marketing, Technology and Business. These events will highlight and dwell on how the latest of technologies are influencing marketing strategies and how best can they be harnessed to achieve the desired success.
The Martech conference slated to be held at San Jose, CA (USA) this year is one such event. It will bring together experts and industry veterans and this will help CMOs keep abreast of the latest technological trends. This can also help CMOs understand the best possible way to deploy various technologies and enhance marketing efforts.
Partnership with agencies
Marketing agencies are a good bet. CMOs cannot avoid relying on and partnering with these agencies. These agencies are specialists in marketing strategies and that requires them to be up-to-date on the market trends, industry dynamics and customer behaviour among other parameters.
It’s good to rely on a partner who has seen it all and knows the pulse of the market and the consumer. Some of these agencies also gather enough expertise on specific industry segments due to their vast experience. They can help CMOs with information on new products or services, new technologies and how best to use these technologies.
As businesses move ahead embracing technology, competition becomes even more hectic and customers get smarter. Under these circumstances, present-day CMOs need a lot of information and insights on products, services and technologies to be on par.
Gathering market, business and technology intelligence will be an art that CMOs will need to master so they capitalize on latest trends and achieve set objectives.