Welcome to the latest issue of R3LATIONSHIPS MONTHLY - our ongoing email update of trends and insights into the marketing industry
The Year of the Chief Growth Officer
In Forrester's predictions for what this year will hold for Chief Marketing Officers, one word takes center stage: growth. They predict that chasing disruptive growth will lead to the rise of a new C-suite executive - the Chief Growth Officer. Several leading marketers have already headed down that path, including Coca-Cola. Traditionally, most organizations trusted marketing departments to drive leads, sales departments to acquire customers, and the BD departments to drive partnerships and secure funding. Now, many customers can be halfway down the purchase funnel before engaging with a company. These digitally savvy customers have clearly identified their problem, evaluated potential solutions, and often have compared prices before speaking with a sales person. More than ever, BD, sales, marketing, and product development are connected and must work together. A CGO can optimize business for growth and profitability across all of these departments with a "growth hacker" mentality.
The Six Big Consumer Touchpoints of 2018
The explosion of consumer touchpoints and the growing prevalence of ad blocking requires marketers to find new ways for brands to connect with consumers throughout their daily lives and their purchase decision journey. These six touchpoints are going to be increasingly prevalent in marketing strategies in 2018.
Beacons - can help marketers learn about specific consumer segments
Wearables - can deepen engagement and connectivity with consumers
Chatbots - help marketers interact with consumers across several chat interfaces
VR Glasses - are helping brands up their gamification strategies
Connected Cars - can help marketers understand driving habits to develop targeting strategies
Voice-Powered Search - there will be 67 million connected devices by 2019
The Future of Consumer Electronics is Voice Activated
Expanding on voice activated consumer touchpoints, in a recent CMO.com article, they reported that voice-assistant sales grew 103% year over year in the fourth quarter of 2017. Their analysis is based on aggregated consumer data comprised of over 55 billion visits to more than 250 retailers in the United States. Another component of the research is a survey of over 1,000 U.S. consumers. They report that over half of voice assistant owners use their units at least once a day. The value of this data for marketers is going to be astronomical, but the debate on "how far is too far?" when using voice assistants in marketing has already begun.
R3 is a global marketing consultancy focused on improving the effectiveness and efficiency of marketers and their agencies. Founded in 2002, we work with eight of the world's top twenty global marketers.