The majority of CEOs think marketers “are always asking for more money, but can rarely explain how much business this money will generate.” Despite this, marketing is over a $1 trillion industry and is tasked with pushing growth when organizations need to grow the top line. The convergence of new technology with changing organizational structure are on the cusp of brink of changing the industry.
McKinsey’s Jonathan Gordon and Jesko Perrey list 5 reasons for the impending era of demonstrable marketing value in their recent article “The Dawn of Marketing’s New Golden Age”
This bold proclamation should give marketers reason for optimism. Going beyond ramifications of big data within the marketing department, this new golden age should allow the marketing officers to contribute to have a say in organization decisions.
The authors explain for themselves the details of the 5 keys, but one that jumped out was the simplicity factor. To keep up with changing consumer trends a “culture of urgency” can be implemented by using specialists to train business units to utilize digital marketing tactics to bring back real time insights from products.
— Danny Sullivan (@dannysullivan) February 4, 2015