Paul Gillin and I speak this week with Daniel Newman, author, speaker, millennial CEO and founding partner at Futurum Research. We were interested in a column he wrote for Forbes entitled, How Will The 10 Top Digital Transformation Trends For 2019 Impact The CMO.
Dan highlighted a couple of the tech trends that will be essential items for CMOs to get their arms around in the coming year, including the transformation of data from machine learning to AI. “Analytics should be the CMO’s best friend,” he told us. “AI will allow for data-driven campaigns that will be guaranteed to work every time.”
Newman said data should play a pivotal role in marketing in the future, and don’t worry too much about over-personalizing the message. Nobody ever complains when a brand provides too much value and can help drive purchases that customers want at any given moment. The trick is to find the right moment and to target customers accurately.
The European Union’s new General Data Protection Regulation will force changes in the way brands market in the coming year, he said. They will have to become more creative about not just getting customers to opt in but to staying engaged. This means that companies are going to have change the way they do lead development. They’ll need to know customers better in order to personalize content because they’ll have less data to work with.
We had a particularly interesting discussion about chatbots as a mechanism for driving personal interactions. Newman sees us moving away from face-to-face moments, and the phenomenon isn’t limited to teens or Gen Xers. The rise of customer self-service is an indication that “We have become more social, but only behind our keyboards,” he said.
Another of his provocative predictions consumers will be able to use blockchain to, in effect, sell information about themselves to marketers. While Newman sees this technology as still immature, he believes its long-term potential is explosive.
Finally, as the average tenure for CMOs continues to decline, they will have to do a better job of managing expectations and develop tighter relationships with their CEOs. You can listen to our 24 min. podcast here: