The entire MediaMath team came together on Monday for its quarterly business update – with all 14 global offices physically or digitally in attendance. As part of the meeting, MediaMath invited Sheryl Pattek, VP, Principal Analyst, serving Chief Marketing Officer Professionals, Forrester Research, to present her latest research and findings. She has extensive global experience in leading marketing organizations for both Fortune 500 and early-stage companies.
Today’s CMOs know they need to adapt from a channel-centric to customer-centric mindset and are aware that technology can aid in this shift – 45% of CMOs agree that marketing technology “is essential to business growth and customer engagement”¹ and yet a single view of the customer is not yet commonplace.
So, what can today’s CMO do to effectively embrace new technologies in order to adapt to ever evolving and hyper-connected consumer? Sheryl, in a July 2014 Forrester report, suggests that CMOs master the following behaviors in order to integrate marketing technologies to drive marketing success²:
• Accept change dictated by empowered customers
• Dare the status quo with nimble experimentation
• Act with agility
• Participate personally by modeling the behaviors you seek in the team
• Tear down organizational boundaries by rewarding collaboration
While the CMO of today faces obstacles related to quickly evolving customer behavior and the implementation of new technologies to meet the needs of the customer, these challenges are not insurmountable. We firmly believe that today’s CMOs should be empowering their organizations to lead with a data-driven approach to drive transformative results.