Marge Breya’s 2014 Predictions
As 2014 is already upon us, here are Marge’s 2014 predictions:
- CMOs will actually be more data-driven than the CIOs: In 2014, CMOs will take over the lead from IT as the organization which most effectively collects, cleanses and leverages data about customers from a wide variety of sources from data bases, to CRM systems, to digital tools to gain a full picture of the customer base.
- Convergence of CIOs and CMOs: As marketers’ technology spend increases, CMOs are gaining more power in the digital space and consequently need to work with the CIO more and more. In 2014 we will see the emergence of a new hybrid role where the CIO and CMO role will merge—the chief digital officer.
- Social media’s equal share: As social media sites come of age, i.e. Twitter’s IPO, the CMOs budget in 2014 will be equally distributed between brand, lead generation and social media. Social media becomes equally important to lead generation and even drives more lead generation through the funnel than traditional marketing tactics.
- Marketing automation: more dollars will be spent for programs versus people as marketers drive to create more automated processes in the coming year. 75 percent of marketing will be automated, while 25 percent will be customer unique.
- Custom content: As more and more marketers are creating their own content to drive sales, the barriers between paid, earned and owned media will break down to one integrated content strategy. Currently, 43 percent have a documented strategy—next year more than 60 percent will.
- Redefining ROI: As new platforms for marketing content arise, the definition of ROI will shift to ROE—“Return on Engagement” with customers, turning content into leads and sales; metrics will shift from quantitative to qualitative. The CMO will deliver a social ROE report weekly to the CEO.
- Internet of Things: According to Forrester, 90 percent of consumers who have multiple connected devices switch between the devices to complete tasks—that’s a lot of machine data about consumers and their products. CMOs will need to spend one-third of their time analyzing data and using predictive analytics to make marketing decisions.
- The quantified self: In 2014, mobile will drive more than 50% of the traffic to organizations homepage. Companies will need to be mobile-first. With data being pulled from numerous devices and platforms, one winner will emerge in BI in marketing to help collate this information.
- Micro-content: Content will continue to get shorter—even after the boom of the six-second Vine video. Next year, try creating a brand message via a three-second video or a Snapchat photo that lasts on your device no longer than 24 hours.
- Collaboration continues to rule the world: next year the emergence of an entirely new set of collaboration tools will burst on the scene that can be leveraged across country and across time zones to make collaboration easier and seamless.