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  • Clara Reporting
  • September 4, 2014
  • John Hayes
  • 0 Comments
  • 181 Views
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  • Content Marketing

How engineering marketing will fundamentally change over the next 5 years

Accenture study says there will be more change than ever in marketing functions, and that the biggest changes will be:

  1. Using data and analytics to improve marketing impact
  2. Making more or better use of digital channels

 Chart_-_Engineering_marketing

Last month Accenture published a study of global marketing.  Here are the biggest takeaways for engineering marketers:

  • 78% of all respondents, the highest rate ever, said that the marketing function will fundamentally change in most organizations over the next five years
  • The biggest areas of change in achieving marketing results will come from: i) using data and analytics to improve marketing impact and ii) Making more or better use of digital channels
  • The biggest barrier to improved performance in marketing in 2014 was a lack of critical technology or tools
  • The questions that Accenture asked about the areas of change tell you a lot about how they see the future.  Here are the questions, ranked in order of agreement by the survey respondents:
    • Analytic skills will be a core competence of marketing
    • Digital budgets will account for over 75% of the marketing budget
    • Mobile will account for over 50% of the marketing budget
    • Marketing will become more of an on-demand information provision function
    • Marketing, Sales and Customer Service will be merged into a single function

The survey covered more B2C marketers than B2B, and had a worldwide geographic reach, so not all of the responses will apply to all of us.  But the insights make it pretty clear that a future CMO is going to have to be:

  • Technology savvy.  Understands data flows and systems architecture
  • Analytical by nature.  Can you calculate CPCs in your head?
  • Data driven.  Time to brush up on pivot tables. 
  • Digital native.  Has followers on social media.
  • Domain competent.  Comfortable describing highly technical processes
  • Great storyteller.  Capable of generating on-demand information

Does that sound like your CMO?

John

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