Thought leaders from around the world gathered at the Zeta Live conference in New York City, and a key topic was what the role of the chief marketing officer (CMO) would be in the future. While most conference panel speakers were confident that the position would still be around for most companies, the skills and priorities will change thanks mainly to the advancement of AI and other sources of technology. Digital marketing has the potential to become a highly personalized, productive and prosperous endeavor.
Intelligence Is The Future
“The future is not artificial intelligence, but just intelligence,” said John Sculley, co-founder, vice-chairman and director of Zeta Global, at the opening discussion. A highly acclaimed expert on technology and consumerism, Sculley was formerly president of PepsiCo
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Actions Created From Real-Time Analytics
“We, as marketers, need to pair listening with actions,” explained Nicole Phillips, CMO of CVS Caremark, the online pharmacy service provided by CVS. Phillips discussed how listening to real-time feedback from users of its services is critical to delivering increasingly better experiences. Other consumer feedback comes from surveys and social listening, or what is more commonly referred to as sentiment analysis. “We have over 200,000 employees that also provide critical feedback based on customer interactions. We need to synthesize all of this feedback and data, then create actions that help us build a stronger consumer experience,” said Phillips.
Marketers Need To Work With AI Or Be Left Behind
Using AI-based tools can help collect data in real-time and create higher levels of efficiency by analyzing data at scale, improving business processes. Assisted AI can help refine and improve products and services, and AI can help develop new growth areas. However, human intelligence is still needed to guide AI technologies. Unlike humans, AI lacks conscious intentions and cannot use subjective reasoning. Not to mention, AI is not culturally sensitive. Marketers need to work alongside various forms of intelligence, including AI. “Not using AI will put you at a disadvantage,” said Ramon Jones, executive vice president and CMO of Nationwide.
Quantum Marketing
Almost everything about marketing will need to be reimagined over the next few years, including how AI and other technologies are used and explored. While the CMO job may not become extinct, the role we know today will vastly differ. In Raja Rajamannar’s book Quantum Marketing, he likens the future of marketing to quantum physics. He talks about how the principles of physics and the world we live in can be applied to the future of marketing. Rajamannar is the chief marketing and communications officer of Mastercard
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Improving Sustainability Efforts With AI
Companies continue to meet the demands of today’s environmentally friendly consumers and can use intelligence to forward a brand’s sustainable purpose. Apple’s new watch is carbon neutral, an innovation-led by design, engineering and operations. The company plans to make all products carbon neutral by 2030 by reducing the three most significant sources of its carbon emissions: electricity, materials and transportation. “Customers are holding brands accountable for the message that companies are putting out in the marketplace, said” Lindsey Scheftic, former CMO of Ring/Amazon
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The New CMO
Marketing visionaries and thought leaders at the conference agree that the industry is changing rapidly, and keen marketers who do not want to be left behind need to jump on the rocket. Ideation and creativity, two of the foundational areas of marketing 101, will continue to be where CMOs can add value augmented with AI. Content development and infinite market segmentation will run at warp speed; the question is, are CMOs ready?
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