Racepoint Group Chairman Larry Weber's Presentation at FutureM Boston


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On Thursday, Oct. 17, Chairman Larry Weber presented at the 2013 FutureM conference and discussed the changing CMO and CIO roles.

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Racepoint Group Chairman Larry Weber's Presentation at FutureM Boston

  1. 1. PRESENTED BY THE CMO and CIO Getting Along for the Sake of the Future of Software VISIONARY SPONSORS TA L K A B O U T U S ! #FUTUREM INNOVATOR SPONSORS #CIOvsCMO
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  3. 3. Current State of #Marketing • Marketers increasingly need technology to do their jobs more efficiently & effectively • IT fueling companies in today’s age of analytics and big data • Customer experience is priority • Companies slowly investing in technology, talent and processes to overcome natural Marketing & IT divide #FUTUREM #CIOvsCMO @TheLarryWeber
  4. 4. The Role of the CIO • CIO has 2 key roles: o Internal: More traditional IT measures not connected to CMO like security, cloud, data, governance, compliance, privacy o External: Helping CMO select & deploy best marketing automation platforms, software • To equip employees with the tools they need to be effective #FUTUREM #CIOvsCMO @TheLarryWeber
  5. 5. What the Future Holds • Marketing execs will spend more on IT and analytics than technology execs • Marketing will have the support of the CEO, so CIO must develop strong relationship with CMO • Many CIOs will report into CMOs • Long term, CMO & CIO must come together to deliver a clear vision and time tables #FUTUREM #CIOvsCMO @TheLarryWeber
  6. 6. Keys to a Happy Marriage • CMOs must tell CIOs how Marketing can benefit from IT innovations • CIOs must participate in discussions about overall Marketing strategy and objectives • Agree on mutual focus areas (i.e.: customer strategy) and metrics to measure success • Build strategy around company’s future growth • Demonstrate value to key Stakeholders #FUTUREM #CIOvsCMO @TheLarryWeber
  7. 7. IT & Marketing Collaboration • Purchase & browsing data used to target & retarget shoppers through Amazon.com product suggestions • Data also used within banners on third-party sites & via e-mail marketing • Data then plugged back into CRM system to create more finely tuned audience segments #FUTUREM #CIOvsCMO @TheLarryWeber
  8. 8. IT & Marketing Collaboration • Analytics used to gain more visibility into their online customer loyalty program • Management compares loyalty/performance data of marketing promotions with pizza sales/frequency of transactions, then measures against initial goals • Mobile commerce campaigns then tailored to more effectively increase average order price/frequency • Previously, managers spent 80% of their time just gathering the data #FUTUREM #CIOvsCMO @TheLarryWeber
  9. 9. IT & Marketing Collaboration • CIO & CMO teams researched customers’ emotional reactions to branding/products o Routine banking: customers felt bored or safe o Securing a loan/mortgage: customers felt more extreme emotions: fear, hope, nervousness • ING used data to evolve customer service and company culture • Used to solve problems from a technical standpoint; now they solve problems from the customer's perspective #FUTUREM #CIOvsCMO @TheLarryWeber
  10. 10. Question & Answer QUESTIONS? #FUTUREM #CIOvsCMO @TheLarryWeber
  11. 11. Connect with Me MY BOOKS: • The Provocateur: How a New Generation of Leaders Are Building Communities, Not Just Companies (Random House/Crown Business, 2002) • Marketing to the Social Web: How Digital Customer Communities Build Your Business (Wiley & Sons, 2007, with a second edition in 2009) • Sticks & Stones: How Digital Business Reputations Are Created Over Time…And Lost in a Click (Wiley & Sons, 2009) • Everywhere: Comprehensive Digital Business Strategy for the Social Media Era (Wiley & Sons, 2011) • The Digital Marketer: Ten New Skills You Must Learn to Stay Relevant and Customer-Centric, due out in Spring 2014 TWEET ME: @TheLarryWeber EMAIL ME: lweber@w2groupinc.com #FUTUREM #CIOvsCMO @TheLarryWeber