TalentCap #DMICON Digital Marketing Innovation Conference to Tackle CMOs Concerns and Struggles with Digital Marketing.
The TalentCap #DMICON Digital Marketing Innovation Conference is a tactical conference to be held on the 26 – 27 September 2018 in Singapore. The conference is set to highlight and address concerns that keep Chief Marketing Officers (CMOs) up at night – propelled by the rise of digital marketing, big data, and the need to engage customers across multiple platforms on a more personal, interactive level.
Kuala Lumpur, Malaysia – July 10, 2018 –
The conference features practical digital marketing insights from top digital marketing leaders. Participants will be able to discover how global industry leaders maintain their edge through digital marketing. The highlight includes 20+ speakers from across all industries, panel sessions, and workshops by renowned international coach.
The #DMICON Digital Marketing Innovation Conference is targeted towards key decision makers, C-levels and marketing professionals from across all industries, covering 20+ different tactical areas of digital marketing which includes everything from customer experience, video marketing, growth hacking, social media marketing, chatbots, omnichannel to data and analytics.
Business have experienced drastic shifts in the marketing world where technologies such as Artificial Intelligence (AI) has reshaped how the world connects, communicates, shops and make decisions especially as consumers. The fast rate of change creates not only pressure for CMOs but also the entire business as departments rely on the ability of the marketing organisation to keep track with the changes and correctly steer the company into the right direction.
CMOs Are Amplifying Their Digital Marketing Efforts.
Marketing is about connecting with your audience at the right time and in the right place. Businesses must meet their potential customers where the customers are spending most of their time – on the internet. Online marketing or digital marketing encompasses any form of marketing efforts that exists on the internet and businesses leverage digital channels such as social media, search engines and websites to connect with current and future potential clients.
Some would suggest that digital marketing refers to advertising delivered through digital channels such as search engines, websites, social media, email, and mobile apps. The most common types of digital marketing activities are; paid search or pay-per-click (PPC) advertising, search engine optimisation (SEO), content marketing, social media marketing, email marketing, mobile marketing, and marketing automation.
The number of people online are increasing every year and the way people shop have changed along with it – meaning offline marketing is not as effective as it used to be. The ASEAN market is experiencing a rapid growth of digital marketing, social media and mobile activity. With over 370 million internet users have been recorded by January 2018 and the number continues to rise steadily in most counties of the region, the digital sector is booming and attracting a lot of interest. Indonesia itself has over 132.7 million internet users which demonstrate that the internet is an enormous business platform where it can reach a large number of audiences in a much shorter time frame with higher cost efficiency. It is only wise for companies to exploit this phenomenon by investing in strong digital marketing campaigns.
While there are many benefits in bringing your business online, there are also many challenges faced by CMOs and marketers in dealing with this new era of marketing. According to an article by the management and consulting firm McKinsey & Company, the speed of change in the digital space proves as one of the biggest challenges faced by CMOs across the globe. While top-performing companies have agile ways of working to get things done quickly, the reality is that the customer’s level of expectations have drastically increased with their decision journeys are constantly changing, many times faster than a company can react.
Stated by the research company Gartner, the challenge for CMOs today is not about learning new ways to tackle marketing, but to ‘unlearn’ what they have been practising for years and substitute it with new marketing strategies that are more relevant for today’s market. CEOs, board members and CMOs of brick-and-mortar stores have to come out of their comfort zone and begin promoting their brands online in order to stay relevant in the business. Bill Gates, the Co-Founder and Technology Advisor of Microsoft, reveals, “If your business is not on the internet, then your business will be out of business”.
CMOs Are Taking Control Of Their Customer Experience.
Another key challenge faced by CMOs and marketers today, is identifying the correct data in order to predict and improve their services across all touch points to elevate their customer’s experience. Customer experience can include many elements, but according to the market research company Forrester Research, customer experience is defined as the perception customer has of your brand. Customer experience is an essential part of every digital marketing strategy as it is the primary factor for customers in placing their loyalty to a brand. It also becomes the key differentiator in deciding a business’s fate as a recent research has found that over 89% customers will switch their loyalty due to poor customer’s experience.
We are now in an ‘on-demand’ economy where the attention span and tolerance of consumers are far lower than before. Consumers nowadays are accustomed in doing business with establishments that can provide them with seamless experience across the supplier’s lines of business and channels, offer flexibility and tailored to the client’s preferences and terms.
While customer experience is recognised as a crucial factor in deciding the fate of a business, companies are still struggling in effectively elevating their customer experience. Some of the reason are due to the fact that customers’ expectations have increased dramatically over the years and customer experience is a subjective matter, where it can be rated differently for each customer. For instance, a customer may place a greater value in good customer service such as responding to a complaint swiftly while others may prefer business that have multiple channels to make a purchase, such as over the phone or through a physical store.
Forrester Research states that companies must ensure that every area in the business transaction is strong, not just one area in particular. While it is challenging to achieve success in overall customer experience, CMOs and marketers can apply new technologies such as Artificial Intelligence in their business strategies as it has been proven beneficial and able to assist in the company’s growth and success.
CMOs Are Incorporating Artificial Intelligence (AI) In Their Digital Marketing Budgets.
Rising customer expectations are driving changes across all industries at an unimaginable scale. Customers are expecting seamless shopping experience across different channels, business transactions on their own terms instead of only from the vendors and content marketing personalised for them. With the purpose of fulfilling the customer’s expectations, it is imperative for CMOs to adopt artificial intelligence into their business as AI can not only assist business to meet these expectations, but also gaining an edge over their more stagnant, “wait and see” competitors.
Data and content are the most important aspects for digital marketing. AI can help companies in extracting valuable data from their own collections that were unreachable before plus getting deeper insights from a multitude of applications. This enables CMOs to understand their buying behaviours and serve the customers better.
Every time someone browses on the internet, new data is generated and collected for AI analysis. This data can reveal a comprehensive profile on the consumer behaviour, preference and motivation. Based on the consumer profile information, marketing can be optimized to supply and provide the most relevant information to the customer. Customized campaigns can also be conducted to every single customer and prospect based on the data collected such as searches, buying behaviour and interest.
It will be a wise move for CMOs to further align their marketing strategies with AI as it can bring the marketer and customer closer – as the customer will have better understanding of a product while marketer can have a better understanding of their customers.
CMOs Are Taking Charge Of Big Data.
Every business owner knows marketing is vital to the growth of a business. Without marketing, it would be challenging to get your brand’s name out there and even more challenging to capture the interest of potential clients. With the amount of options readily available in the market, consumers have unlimited choices for almost every product or service that they may require. Thus, CMOs and marketers have to come up with innovative marketing campaigns in order to grab the consumer’s attention and ensuring the success and growth of their business.
With technologies nowadays, CMOs have the ability to customise marketing campaigns to each one of their customers based on their specific preference and needs. One of the technologies that contribute to the advancement is big data as it enables marketers to learn vital information about their clients through analytics from previous buys, search engine and other online activities. However, many business owners are still uncomfortable in using new technologies and techniques in their marketing strategies. Companies that choose not to harness the power of big data and other artificial intelligence technologies are surely going to get left behind in todays’ fast pace changing economy.
The global research and advisory firm Gartner defines big data as “high volume, velocity and variety of information that demand innovative forms of processing for enhanced decision-making, business insights or process optimization.” With the right software, big data can assist companies in making more informed decisions about their marketing campaigns – increasing the quality of sale leads and data, improving prospecting list accuracy, win rate and many more.
With all the benefits of big data, using it in business strategy is anything but easy. As the speed of business continues to accelerate and the amount of data increases in size, the incredibly complex undertaking only gets harder to manage. Undetected flaws or gaps will lead to poor results and it can become incredibly overwhelming and frustrating if the user does not understand how to collect and analyse the bountiful amount of data available. However, the ability to process and analyse large of data effectively will surely be profitable to a business, as according to the McKinsey & Company’s research, companies that make use of customer analytics extensively, see a 126% profit improvement over their competitors.
CMOs Are Driving Omnichannel Marketing In Letting The Customer Create Their Own Experience.
Omnichannel marketing is the key to marketing success for today’s economy. Consumers are demanding a seamless shopping experience by being able to engage with companies through variety of ways such as walking in a physical store, calling on the phones, through online websites and social apps.
While it is very challenging for any business to make the interactions and experiences at each point as consistent, seamless and as effective as possible for every customer, it is imperative for companies to employ omnichannel strategies to meet customers wherever they are, regardless of the channel or device. Companies that refuse to keep up with the shift in technology will struggle to stay profitable and lose potential clients to their competitors in today’s ever-changing digital ecosystem.
The shift to omnichannel marketing is not easy and requires a shift in the entire work organisation and company culture. One of the most significant struggle many CMOs faced when implementing omnichannel strategies is making the jump from being business-centric to customer-centric as they have to orchestrate a consistent, seamless and integrated customer experience across all touch points.
Business owners must eliminate traditional channel boundaries where customers are not able to switch channels as they please. For instance, when a customer buys a mobile phone online but are not able to return it at a physical store due to it being part of a different P&L, it is very likely that the customer would be puzzled, surprised or even frustrated by this issue as they see the brand as being a big single company. Therefore, customers are expecting that they are able to buy and return items at any available channel they prefer.
This is an example of how omnichannel is not multiple channel marketing, but is a single channel with multiple touch points, able to deliver a seamless and unified customer experience across all channels and devices.
Attend the #DMICON Digital Marketing Innovation Conference Singapore to gain latest insights on trends and innovation.
The #DMICON conference participants are expected to gain cross industry learning on leadership, strategy, technology and innovations in digital marketing to stay ahead of competitors by implementing and learning from other industry domains. Keynote presentation sharing aims to move the audience to action with the right message, the right tools, and the right delivery, making the audience understand why their world needs to change, and not only show them how to do it, but to get inspired to do it well.
TalentCap has a vision to become the foremost thought leadership platform in the region, creating unmissable events that feature inspiring speakers sharing their first-hand expertise with delegates. As such, they have gone above and beyond to make this event as impactful as possible.
For those who are interested for the #DMICON Singapore chapter, please refer to the below on event details:
Dates: 26-27 September 2018 (Wednesday & Thursday)
Time: 9am – 5pm
Early bird tickets available here: https://talentcap.com/digital-marketing-2018-singapore/
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