With CMOs assuming key strategic roles for tech companies, an exclusive CXO News & APAC News Network Marketing Connect webinar brings 5 top marketers to discuss the impact of digitization on marketing.
The Chief Marketing Officers (CMOs) of Indian technology companies are today critical in transforming their organizations, not only through marketing functions but also in the overall corporate affairs.
These CMOs are often responsible for strategic decision making with often even the CEOs taking the backseats and waiting for feedback from them about the industry.
From digital challenges, to mar-tech challenges, to non-digital challenges, the role of a CMO, especially in the IT industry, is today multi-faceted and constantly evolving.
Who better than these CMOs themselves who can vivisect and analyze in-depth not only the ramifications of their roles and responsibilities but even outline the strategic roadmaps they will outline in the future?
An eminent panel of CMOs from the tech sector were precisely involved in undertaking this vivisection and concluding why they are being widely considered today as the enablers of the businesses themselves.
Anurag Kubba, PMP, APAC Marketing Leader, IBM Automation, Kaustubh Patki, Head of Marketing India, Opentext, Nitu Sharma, Head of Marketing, Iron Mountain India, Charu Sehgal, GM-Corporate Communications, AVAADA Group and Shivani Singh, Vice President, Marketing, PRUTech were the panellists involved.
The occasion: a webinar on the Marketer’s Role in a ‘Digital-first’ World organized by APAC News Network.
Marketing Fundamentals Get a Digital Avatar
The CMOs generally underscored the significant transformation in marketing actions driven by digital advancements, especially during the pandemic. Marketers, as a consequence, must adapt to new technologies and strategies to stay relevant. The importance of compliance, personalized marketing, and the balance between privacy and effectiveness were key takeaways for the CMOs. As the marketing landscape continues to evolve, staying agile and innovative will be crucial for success in the days to come.
There was an emphasis on how different channels like the Internet, mobile, and social media are impacting modern marketing strategies. CMOs must be aware of the differences in dynamics between these different channels and apply their knowledge effectively to increase brand impact and awareness for current and future businesses. The integration of GenAI is a further game-changer in this new era of marketing.
However, Anurag Kubba, PMP, APAC Marketing Leader, IBM Automation, had a word of caution. “The fundamentals of marketing remain the same. We always talk about the audience first and having the right content strategy. That has not changed though GenAI will change the way we reach there.”
Assessing the Compliance Angle
AI and machine learning tools are revolutionizing how marketers approach audience segmentation, content personalization, and campaign optimization. The CMOs need to know about the intricacies of the influencer market and harness its potential effectively to remain relevant and gain an edge over competitors. Managing media relations and the efficient use of media channels to communicate brand messaging is today definitely an important highlight in the CMOs domain.
Kaustubh Patki, Head of Marketing India, OpenText, agreed saying “Our corporate narrative is now more focused. Unlike the one-to-many approach, it is now one-to-few and one-to-selected-few, making our messaging more impactful”. However, to facilitate these personalizations, CMOs must have a deep understanding of customer behavior and preferences to effectively coordinate and optimize the customer experience across multiple channels. CMOs also must ensure that the brand message and visual identity are consistent across all channels, whether digital or non-digital.
During the COVID challenge, the tech CMOs responded to the challenge of the lockdown by steering their mindset and strategy to a digital-first approach. They proactively leveraged technology to reach out to consumers online and subsequently engaged them with digital marketing. Post-pandemic too, for many tech CMOs the recovery has also been driven by increased Internet penetration. This opened up new avenues for tech CMOs to cost-effectively increase customer outreach in hitherto uncharted markets.
There was a consensus among the CMOs that that the pandemic accelerated the shift towards digital channels, forcing companies to innovate rapidly to meet changing consumer behaviors. This necessitated an increased focus on regulatory compliance and cybersecurity related to marketing activities. “Compliance is critical in our marketing strategies. We take a list of required compliances and build our solutions accordingly, ensuring they are followed from day one,” emphasized Nitu Sharma, Head of Marketing, Iron Mountain India.
Added Charu Sehgal, GM-Corporate Communications, AVAADA Group, “Marketers need to be transparent with consumers about how their data is used and ensure that privacy policies are clearly communicated.” Growing cyberspaces have necessitated the development of a robust cybersecurity infrastructure to ensure data protection and confidentiality. And even more critically, the CMOs cannot lag behind in these areas.
“Adhering to regulatory compliances not only protects the company but also builds trust with consumers, which is essential in today’s digital landscape,” inferred Shivani Singh, Vice President, Marketing, at PRUTech. The emphasis on the need for marketers to stay updated on industry-specific regulations, particularly in sectors like healthcare and smart governance, was frequently highlighted.
The Influence of Digital Tools
The CMOs also concurred on the need to understand the nuances of data analytics to harness the power of data for effective decision-making. Many companies have greatly benefitted from the efficient application of data science and technological tools for insight generation allowing the CMOs to make data-enabled decisions today.
Kubba highlighted the use of AI-driven marketing automation tools to streamline the campaigns and improve customer engagement. “By leveraging AI, we can deliver more personalized experiences to our customers, which has significantly increased our conversion rates,” he noted. Added Patki, “Our data-driven approach allows us to create highly tailored marketing messages that resonate with our target audience, resulting in higher engagement and better ROI.”
Notwithstanding the advancement of these digital tools, one of the primary responsibilities of CMOs remains to manage the brand’s digital reputation by promptly addressing customer concerns and effectively bridging gaps, said Sehgal.
Performance marketing is an essential aspect of value creation and impact assessment for an IT company and is often the acid test for the CMO. According to Singh, the CMO has to manage a tightrope to walk on as any fallout can negatively impact the brand image if not effectively managed. The intricate task of balancing rests with the CMO making it imperative for him to be equipped with the mechanisms involved in performance marketing.
Kubba emphasized the need for continuous learning and adaptation, stating, “Marketers must stay updated on the latest technologies and trends to remain competitive. Lifelong learning and agility are crucial in this fast-paced industry.” Patki concurred, “Data-driven decision-making will be a key differentiator for successful marketing strategies in the future.”
“Understanding and addressing customer needs should be at the heart of all marketing efforts. Building strong relationships with customers will drive long-term success,” concluded Sharma.
Rajneesh De & Swapnil Mishra, APAC News Network
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