As a CMO Dhoby Ghaut, its very critical for you to understand developing brand strategy is extremely critical. The most important asset your company has is its brand. Quite simply, it drives the direction of your business. So you should definitely have a well thought out brand strategy in place.
Increasing competition in business develops similar products with good quality from different manufacturers. But only an effective, innovative and Digital Strategy & planning can make your business and products more popular.
For your profession as CMO Dhoby Ghaut it becomes your responsibility to stay connected with like-minded supporting industry experts who can guide and help you deal with your day to day work issues.
Artificial Intelligence: The Next Tech Bubble or the Changing Face of Technology
If you are entrepreneurial in nature owning a business is very exciting adventure. It can also be the most difficult thing for you to get into if you are not prepared.
Keeping a watchful eye on technical innovation is vital to develop a clear vision for the future of any business. But effective strategies for success depend on managers and executives avoiding hidden blind spots and investment decisions that obscure the way forward. Last year, according to World Economic Forum figures, private sector global spending on digitizing business operations exceeded $1.2 trillion dollars, yet just 5% of executives reported being satisfied with the results. In most industries the transition from analog to digital is one of the biggest challenges facing business leaders today. There are 8 common mistakes executives make.
Finding the best way: As with most human activity, planning is everything. The digitization process is a unique opportunity for executives to take a good hard look at their enterprise and ask some important questions:
What digital activities are already underway?
What will the industry look like in 5, 10 or 20 years?
What strategies can the company employ to succeed in a digital future?
What is the end goal of the transition from analog to digital?
Understanding where the business is attempting to go should help avoid some of the following bumps and wrong turns in the journey. Most of the common mistakes executives make with the digitization process relate to investment. Nearsighted investments focus too heavily on the short term, giving insufficient consideration to an organization’s long-term needs. While, farsighted investments focus on future needs with scant attention given to immediate development, which undermines current performance and impacts future goals.
Even when the current and future needs of a business are given equal consideration blind spots can occur, as parts of the business are overlooked by investment and turn into points of weakness that disrupt overall performance. Putting a coherent strategy in place directs funding to areas of the business most in need. As well as scheduling where and when to invest, this strategy prevents executives making “scattershot” small investments without an overall funding plan.
Mind your own business As each organization is unique, no two paths to a digital future are the same. The structure of a business can influence its digitization journey, with heavily centralized companies at risk of suffering from a rigid chain of imposing policy from on high. Similarly, command structures that encourage parts of the business to operate as independent units, or islands, can duplicate investments which also duplicate costs. Every six months the management should ask these questions:
How the digitization of work affects us all?
Why a futuristic digital healthcare system, might not be out of reach?
How can we build a workforce for our digital future?
Enabling change Aside from investment decisions, another common area where mistakes are made relates to the balance of resources and their application. A company’s data, technology, operating model and talent either work to enable digital progress or hinder it. Some companies focus too heavily on building up these enablers, without considering if additional staff, technology and data capacity add value to the business. Whereas, the digital transformation of other companies suffer from a lack of resources to accommodate spending on new business applications.
The new digital reality Image: WEF The pace of technological change is impacting the business and social worlds faster than ever before. A new digital reality is emerging where 85% of customer interaction will take place without humans and where 65% of today’s young will grow up and work in industries or jobs that don’t yet exist. Companies that successfully bridge the gap from analog to digital are in prime position to fully embrace the opportunities offered by a digital future.
e-Marketing Strategy: 7 Dimensions to Consider For Digital Growth
With the support of our professional business network, you get the opportunity to exchange experience and knowledge at a top professional level, and to strengthen and develop your own skills within your management and specialist areas.
Through business relationships and experience sharing in confidential settings for CMO Dhoby Ghaut, we strive to create personal and business value for all our network peers.
In the last century, the world saw a massive revolution of innovation.
Beyond modern marvels such as digital advancements and the evolution of the smartphone, artificial intelligence is gradually changing society and how people navigate their lives. Machine learning is gradually being integrated into nearly every aspect of life.
It's already used in machine translation, email spam filters, ATM check depositing and facial recognition - and that's just what an average person uses day-to-day.
Predictive intelligence is making businesses more efficient, effective and successful. B2B companies deploying predictive intelligence for marketing activities are closer to the holy grail of understanding each individual customer - and personalizing all content to their needs and interests.
Technology not far from artificial intelligence is making a significant impact on the marketing industry. In fact, 86% of marketing executives have already indicated they have seen a positive return on investment in marketing technology and predictive analytics. The future of B2B marketing will focus on predictive analysis and intelligence, and have a major impact on lead scoring and content targeting.
The Transformation of Lead Scoring
Lead scoring is essentially a points system used to determine where your prospects are in the buying journey. The idea is to look at customers uniquely for a better understanding of what they looking for, what you can provide them with - and if they're likely to make a purchase.
Manually scoring leads, with this helpful guide, can be an excellent introduction to the strategy of fully comprehending customers. Assigning this responsibility to your B2B marketing team brings consistency, reliability and focus to a personalization approach.
Beyond manual lead scoring lies predictive lead scoring. This is a proactive way to accelerate the sales process by determining which customers are ideal based on past behaviors and purchasing history.
This takes into account other technologies, such as CRM or marketing automation, and demographic information to predict whom sales and marketing should be nurturing closely. Still done semi-manually, this method uses the insight from traditional lead scoring and blends it with modern ways of working.
In terms of the future of B2B marketing, predictive lead scoring using predictive intelligence is yet one step further. This is even more accurate than basic lead scoring, because of its correlation between patterns discovered in both a company's first-party data and general third-party trends.
It has also become the standard for most companies, especially technology-based businesses. A 2014 study revealed 90% of users agree predictive lead scoring provides more value than traditional approaches. The comprehensive nature of looking at customers holistically and integrating that insight into how you communicate with them can fast track your marketing efforts.
Given that artificial intelligence can predict the status of hundreds of prospects in a matter of minutes, marketers have everything to gain by using this technology.
A recent Gartner study concluded that predictive intelligence is a must-have for B2B marketing leaders. Just as marketing automation is being adopted widely within the marketing industry, predictive lead scoring is likely to follow.
The immediacy of reaching customers, understanding their needs and effectively determining their value to your company has created a necessary place for predictive intelligence in lead scoring.
The Power of Personalized Content Targeting
Predictive intelligence, an important component of predictive analytics, is also critical in learning which pieces of content to target to which customers. After predictive lead scoring reveals where each customer is and might be headed in the buying journey, you can glean insights from predictive analytics for establishing the tone, material and style of content each prospect will respond to most fervently.
An algorithm that determines the factors influencing a prospect can also pull the appropriate content. Just as you would send additional white papers to a manually-scored lead with interest in more in-depth material, this algorithm identifies the many customers to whom whitepapers would apply.
Sending the right content is just as important as creating it in the first place. Predictive analytics also leads to informed idea generation and content development.
Using predictive analytics in your content marketing takes careful consideration, but can be done successfully if you know the right data points to use and what to integrate into your existing strategy.
Seeing what content receives the most engagement and is most worthwhile to your prospects helps you tailor future content to those interests. Even with predictive analytics on your side to help you gain incredibly beneficial insights, it still takes a human to use the insight wisely and proactively.
Marketing professionals who work based on data, emotions and customer connections are the whole package in targeting content most effectively.
A.I. and the Future of B2B Marketing
Although artificial intelligence is not quite at the point of thinking, processing and completing tasks at the speed of a human brain, developments in the science of machine learning are getting closer to a complete takeover of this technology.
The existing uses of artificial intelligence within marketing is a good indication that the future of B2B marketing is bright - and that lead scoring and content targeting will be perfected as the technology matures.
With an already efficient system of analyzing data from thousands of sources to make sense of a single customer, predictive intelligence is making it possible for even small B2B companies to grow at rapid rates and expand their potential faster than traditional methods.
Networking has always been considered a powerful tool for improving business prospects, advancing a career, and developing ideas. Other than some brief, structured events, networking has been mostly informal and inexpensive in comparison to cost they otherwise spend on different channels. But membership is growing in many formal, long-term networking groups, and so is the price tag.
Our groups are not groups for generating sales leads, nor are they places where individuals can drop-in to gain quick advice on an immediate challenge. Members also sign a confidentiality agreement and benefits from the guided mentoring to help each other.
These groups include an experienced facilitator and use a structured discussion method to ensure appropriate participation.