The next big thing in marketing for 2021 and beyond is increasing the effectiveness of the marketing function. That is integrating new marketing capabilities into existing processes rather than simply adding new capabilities.
Why the next big thing in marketing is important
Firstly, this is not just our opinion. This conclusion was published in a Harvard Business Review paper entitled, ‘Is your marketing organisation ready for what’s next?’. This study interviewed 120 senior marketers and found that marketing is mostly adding silos when introducing new capabilities. For example, implementing new social media channels means a SMM team. ‘Near me’ marketing may involve a mobile marketing team. Predictive marketing may involve an intent based team.
Secondly, many senior marketers believe that technology is taking over. New technologies are infringing upon strategy, roles are becoming less clear and branding is separating from lead generation and performance. Without a one-size-fits-all approach, CMOs face a dilemma over what services to keep in-house and what to give to specialists. Technologies may straddle in-house and third-party support which leads to further fragmentation and silos.
Read the full article here.