yuchun lee Archives - Smarter Commerce
Todd “Turbo” Watson (blogger and tech evangelist) talks with Yuchun Lee, VP and General Manager, Enterprise Marketing Management Group, during the Smarter Commerce Global Summit 2012 in Orlando.
“The end objective of every organization is to make sure that …
As September draws to a close, marketers are in a mad dash for the busiest time of the year, the holiday shopping season. Plans are in place and strategies are coming together. Most marketers are keenly aware of the importance of a multichannel marketing strategy, including traditional, digital and mobile channels but where does social media come into play?
Let’s be honest, social media hasn’t exactly been the shining star when it comes to online shopping. In fact, many in the industry believe that the fact that social commerce has stalled shows it isn’t worth the time and investment. As the holiday season draws closer however, I say yes, social media is important.
I’ve talked a lot about the odd couple pairing of the CMO and CIO. More often than not, we look at this partnership through the lens of the CMO, but I think it’s equally important to consider the CIOs perspective. Just as the CMO needs to change to adapt to the needs of Generation C, the CIO must also evolve in order to be an equal partner in this CMO/CIO equation.
In a lot of ways, marketing has viewed the IT department as a proverbial stick in the mud – a roadblock to marketing’s fast paced needs. And let’s be honest, in many ways, that’s true. The CIO has been trapped in a long, painful process of working through IT needs and inevitably became marketing’s biggest obstacle to accomplishing their short term tasks. So instead of working with the CIO and their team, the CMO simply went around IT and began working with outside vendors, creating their own complicated system, which led to inefficiencies and uncoordinated marketing strategies.
Now I’m not saying CIOs should simply lower standards and discard key IT processes but they do need to consider whether or not standard processes can be changed to accelerate business needs for CMOs. I don’t believe many CIOs even consider how their processes might be affecting their front office counterparts. CIOs need to look at the front lines and focus on their agility and ability to quickly respond to marketing needs, which are critical in today’s fast paced multichannel climate. CIOs need to move away from being seen as a hindrance to marketing success and instead become a trusted partner to the CMO, one that will provide added value, versus stalling marketing projects.
News flash: We’ve entered a new frontier of marketing! Customers are connected, more intelligent and demanding than ever. To be successful in this new world of marketing, we can’t rely on old methods for communication with our customers – these antiquated views are no longer relevant. Just as our consumer has adapted and evolved, we too have to adapt and evolve the way we talk and interact with them. With that being said, let’s dive into what I like to refer to as the digital marketing mix and let the new marketing 101 class begin!
For decades, marketing classes around the world have been taught the infamous “Four P’s of Marketing.” As marketers, we know them by heart – price, product, place, and promotion. These tenets have helped develop and direct campaigns both large and small. Now what if I told you the Four P’s are antiquated and no longer apply to the world of marketing we face today?
When the 4 Ps were first developed by E. Jerome McCarthy in 1960, the world was very different. The original marketing mix was based on traditional forms of marketing, media and promotion. In the booming 60s the only stores it applied to were physical stores and the consumers it addressed weren’t nearly as savvy or empowered as the ones that reign supreme today. The entire concept was primarily a one way, product based communications approach, that took very little else into consideration, simply because there was no reason to. But as we all know, things have drastically changed. Today, every action we take must take the consumer into consideration. As marketers, we have to find a way to make our marketing so relevant and so on target, that our messages are deemed a welcomed service, as opposed to an unwanted intrusion.
So, let’s say goodbye to the old way of thinking, the old 4P’s and hello to the digital marketing mix:
A profound change is taking place within the business functions of technology and marketing. Often, the two sides have often avoided one another resulting in an internal disconnect between the chief marketing officer (CMO) and the chief information officer (CIO) that can lead to wasteful IT sprawl, inefficient processes and ineffective marketing. No wonder the average job span of the CMO is four years.
However, as the consumer becomes savvier and more demanding, CMOs and CIOs have everything to gain by joining forces as partners to address the growing needs of a more intelligent and more empowered customer base. This is backed up by a recent Gartner survey which predicted that by 2017, CMOs will out-spend CIOs on IT – a startling revelation…….unless you’re in the marketing department.
From a CMO perspective, technology has become a pervasive element in all key areas of marketing, especially when it comes to the most influential channels and trends marketers are focused on today–digital marketing, mobile commerce, websites, and social media. CMOs now rely on technology more than ever and some are realizing that outsourcing their needs to a range of external vendors without the collaboration of internal IT can lead to disaster. Savvy CMOs are starting to work with their CIOs and internal IT departments to better handle and streamline their technology needs.
As part of the IBM Smarter Commerce Global Summit, I led the Marketing Innovation Summit which brought together marketing professionals to network and discuss best practices. Of the 1,700 conference attendees, more than one thousand came from marketing backgrounds, providing a rich and in-depth conversation surrounding best practices for marketing effectiveness.
During the Marketing Innovation Summit, I focused on the idea of the Generation C (“C” for connected) customer. Today’s customer is digitally connected via an array of devices and channels and with that, consumers are far more in control than ever before. Consumer demands and expectations are great and it’s our job as marketers to evolve to meet those needs.
We know in order to succeed with Generation C, we must transform our marketing so it feels like a service, rather than what the customer perceives as an intrusion. So how do we increase our marketing effectiveness to achieve this goal? We start by reminding ourselves that we must practice consumer centricity and arm ourselves with as much data and information as we can when it comes to the preferences, buying behaviors, and attitudes of our target consumers. But this valuable information can’t stop at the marketer’s desk. Instead, we must share this information with other parts of the business, including our partners, agencies and customer communities. From a retail perspective for example, retailers should leverage consolidation between merchandising and marketing to better collaborate and work together to achieve overall marketing goals.
Join the Conversation – Yuchun Lee Discusses Marketing Best Practices and Trends During Special Twitter ChatMay 22, 2012 | Yuchun Lee
During the IBM Smarter Commerce Global Summit 2012 – Madrid, Yuchun Lee, vice president and general manager of IBM’s Enterprise Marketing Management Group, will lead the Marketing Innovation Summit, which will bring together marketing experts and industry-leading customers …
How can companies get closer to customers?
Simple. Put marketing and IT closer to each other.
Leading companies are co-locating marketing and IT teams in the same office building to improve collaboration and effectiveness, and they’re cross-training marketing and IT personnel in each other’s disciplines. These simple alignments are proving valuable in enabling marketers to make the most of technology to understand and engage Generation C customers, empowered with mobile devices and social media.
At Anheuser-Busch InBev, the world’s largest brewer, the VP of Information and Business Services and the VP of Global Connections (CIO and CMO equivalents) have adjacent offices and run rotational training assignments for marketing and IT to cross-pollinate skills. Kellogg’s, the $13 billion producer of cereals and convenience foods, has dedicated an IT team exclusively to marketing, with both in the same building.
“That has created a lot of enablement for (Kellogg marketers) to not have to go running to the IT department and worry about getting on a priority list—marketing is the priority for that IT team,” David Cooperstein, VP and Practice Leader at Forrester Research, said at a recent webinar hosted by IBM.
The Anheuser-Busch InBev and Kellogg’s examples were among a host of thought-provoking insights shared by David and Yuchun Lee, Vice President and General Manager of IBM Enterprise Marketing Management (EMM), at the webinar, “How Expert Marketers Use Innovative Technology to Focus on Customers.” (A replay is available here).