In 2014, significant shifts in the marketing landscape will dramatically influence how chief marketing officers (CMOs) strategize and prioritize for success. CMOs will plunge forward into a year of uncertainty, where the only thing that's clear is that sticking to the status quo will likely result in failure.
To avoid failure, CMOs will be forced to alter the way they promote their brands, incorporating new outlets and tools into their repertoires and creating more dynamic and efficient marketing teams.
The big changes to watch out for are...
- The adoption of new technologies and media outlets
- The determination of native advertising's value
- The increasing use of programmatic buying
1. CMOs will adopt new technologies and alliances
Marketing teams will continue to be challenged to do more with less. However, as the media and marketing industries evolve, new technologies and tactics will offer marketers unprecedented options and abilities. This year, as industries grow more competitive in increasingly crowded marketplaces, CMOs will have to take a more experimental approach to stand out. In addition, to ensure the ROI that their executive team expects, CMOs will need to use more resources for testing and experimentation. That includes richer measurement tools to manage campaigns to greater success.
Many companies also are forging alliances to achieve more and go further than they would on their own. The Publicis-Omnicom merger announced last summer instantly comes to mind. The two ad agency giants agreed to partner to become more efficient and competitive globally. But mergers aren't only happening in the media and marketing space. Even automotive companies are coming together to produce more innovative brands and campaigns. BMW and Toyota recently announced that they will be collaborating to design a new sports car together, and Mercedes has been talking with Infiniti about an SUV joint venture.
More than ever, marketers are looking for creative ways to produce more value while investing less time and money. Thus, we can expect an increase in that kind of experimentation.
2. CMOs will watch closely to determine native advertising's value