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The New CMO’s First Hundred Day Playbook

IDC PMS4colorversion  The New CMOs First Hundred Day Playbook

By, Kathleen Schaub 

In a 2014 study, IDC found that 51% of CMOs at tech companies have held their position for fewer than two years. We predict many new CMOs again this year. How can a new executive start right? IDC interviewed 10 wise, seasoned, CMOs for a glimpse into their first hundred days playbook.

New%2BRoad%2BSign The New CMOs First Hundred Day Playbook

Transitions are vital moments when even the smallest executive actions have a disproportionate effect on outcomes. It’s a risky time for a new CMO who starts with neither the knowledge nor the alliances necessary for success. Fail to build momentum during the first hundred days, and a CMO will struggle for the rest of his/her (probably short) tenure. Job loss is not the only blow that may be suffered by a poorly conducted start. Many more CMOs fail to reach their full potential in their current position, thus putting a promising career on a slower track.

Success in the first hundred days, on the other hand, sets the stage for a brilliant performance. The 10 heads of marketing interviewed by IDC collectively recommended these six plays.

Play #1: Understand your real job.

Marketing is very closely tied to business context. A new CMO must assess quickly what work is really needed. Does the company need more awareness, a brand refresh, or a full product portfolio transformation? Each of these strategies requires a radically different approach from marketing.

Peter Isaacson, Demandbase: “What are the business goals of the company and the expectations for marketing? What are the business priorities and where is the company going? Get this straight from the mouth of the CEO. What is expected of you? Are there any unrealistic expectations that you need to set straight [such as] build a new category in the first two months? Get on the same page right from the beginning.”

Elisa Steele, Jive Software:  “There is a big opportunity and a big problem. No CMO in any company has exactly the same responsibility [as another CMO]. You know what a CFO does, what sales does, HR, etc. CMOs are different. Are they responsible for communications? Strategy? Product? Customer service? CEOs can create a spec of their own definition. But that requires a very mixed pool of candidates and it’s difficult to understand what any candidate’s power skill needs to be.”

Greg Estes, NVIDIA: “Building an executive team is like building a sports team. Different players are good at different things. [CEOs] might find they hired a great shortstop when they needed a good first baseman.”

Play #2: Speed up your learning curve.

The amount of information that needs to be absorbed in the first hundred days is prodigious. It’s best to approach learning in a direct and methodical way.

Paul Appleby, BMC: “To remain relevant, our number 1 priority must be to drive a new level of engagement with our customers. We are headquartered in Houston, Texas. However, our customers are based globally. As such, we need to engage with them globally. In my first three months, I travelled the globe and met with over 500 of our largest customers to understand the dynamic impact of digital disruption on their businesses. I also met with our teams in every major city where we operate. We listened and pivoted our engagement model, market positioning, and service delivery model based on what we heard.”

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Don’t Try to Be a Publisher and a Platform at the Same Time

Harvard Business Review

In the wake of digital disruption, new media companies are seeking scale and legitimacy, while old media companies explore new business models.

The “platform” is a new media company model that has been perfected by the tech industry. Platforms can easily scale to serve gigantic audiences, and their lucrative possibilities beckon to established players that are often called “publishers.” Meanwhile, many publishers have solid brand identities that are alluring to platforms. So publishers and platforms are experimenting with new combinations — but is it really possible to combine a publisher with a platform over the long term?

Typically, publishers are considered to have editorial judgment, while platforms lack it. From this perspective, the Harvard Business Review, The Atlantic, and The New York Times are classic “publishers” — they present highly-curated content, and their editors invest a lot of time in its creation. Google, Facebook, and Twitter are classic “platforms” — they distribute other peoples’ content without as much editorial oversight. But these differences are largely cultural. It’s not technologically difficult for publishers to add platform-like elements, and vice versa.

Publishers seeking new business models are often tempted to become more platform-like by enabling their audience to post user-generated content; they hope to increase revenue by selling ads on this “extra” content. Sometimes, they also hope to develop a content management system that other publishers can license and use to distribute their content.

On the other hand, the technologists looking to differentiate their platforms are drawn by the voice and influence of publishing. Plus, platform-builders can capture more value if they own content on their platform, and not just the platform itself.

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What Digital, Social & Mobile Will Look like in 2015

We Are Social

The Headlines

Slide006 500x375 What Digital, Social & Mobile Will Look like in 2015

 

 

 

 

 

 

 

 

 

 

 

 

As we’ve seen in our on-going series of Digital Statshot reports, mobile increasingly dominates the digital world, and we’re confident that ‘ubiquitous connectivity’ will gather even more pace during 2015, as cheaper handsets and more affordable data connections reach further around the world.

What’s more, with mobile-oriented services like WhatsApp, WeChat and Facebook Messenger achieving the top social media ranking spots in some of the world’s biggest economies, it’s clear that much of our digital behaviors now converging around mobile devices.

Based on the trends within this data, we expect that mobile will help to push internet penetration beyond 50% of the world’s population during mid to late 2016.

Before that, though, we  expect to see social media penetration reach one-third of the world’s population – likely by the end of 2015 – with new users in  developing nations accounting for almost all of this growth.

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Software Marketers Blaze Trails in Data-Driven Marketing

IDG Connect 0811 Software Marketers Blaze Trails in Data Driven Marketing

Technology is changing marketing in a hurry, and some CMOs have acknowledged that the unrelenting pace of the transformation intimidates them.

In a survey conducted by Forrester Research and Erickson Research, 85% of 117 CMOs surveyed said their responsibilities had changed significantly in the past few years. Amazingly, 97% of respondents only expected the pace of change to accelerate. The change is coming so fast and so furious, in fact, that 34% of the CMOs in this survey described the changes as “overwhelming.”

There’s one group of CMOs, however, that seems undaunted by the pace of change, and that’s software marketing executives. Because of their comfort with the world of technology, software and tech marketers, in fact, are far ahead in embracing marketing technology and the data-driven, customer focus this technology enables.

A study we conducted last year at my company, Bizo, before it was acquired by LinkedIn, provided some insight into just how far software marketers are ahead of their peers. Software companies have long been pioneers in B2B digital marketing. They were among the first to build websites back in the early days of the World Wide Web in the mid-1990s. They blazed trails with display advertising and were among the first to see the value in search advertising, content marketing, and social media. Even when they made missteps, such as jumping on the MySpace bandwagon, the experience of these early adopters allowed them to quickly grasp the significance of other social media launches, such as LinkedIn, Facebook, or Twitter.

The Bizo special report, “The Data-Driven Marketer,” indicated software marketers are also leading the way in adopting data-driven marketing practices. In The Data-Driven Marketer survey, Bizo queried more than 850 marketers. The responses showed that the subset of software marketers is far ahead of all respondents in virtually every aspect of data-driven marketing.

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CES 2015 Coverage: The Latest Tech Stories

The International CES is a global consumer electronics and consumer technology tradeshow. It’s the largest of its kind in North America and takes place in Las Vegas January 6-9th. If you can’t attend make sure to follow our page with the latest updates on the innovative technology being featured.

Another year, and another CES is over. This year’s event featured every kind of gadget you could think of: Mini-PCs of varying shapes & sizes, personal Clouds and over-elaborate hard drives, questionable crowdfunded health gadgets and brain scanning things, expensive music players,microchips for smartcars, Bitcoin, weird hats and all sorts of 3D printers. There was also wearable tech for fitness freaks, fashionistas, animals and people who like modularity, as well as a whole range of VR/AR-based headsets on show: the Avegant Glyph, the Razer OSVR and the Seer fromCaputer Labs.

Announcements from the show included Intel’s promise to spend a hefty $300 million to increase diversity of its workforce, while BlackBerry is looking to muscle in on the Internet of Things andWearables. Also Iron Maiden’s mascot Eddie – the only guy bigger than Shaq – was in attendance.

Outside of CES, BlackBerry has teamed up with Boeing to create a “self-destructing” smartphone for spies. It probably won’t explode Mission Impossible-style, more likely just to wipe the device if need be.

View a slideshow of the 10 best business gadgets

ces smart board CES 2015 Coverage: The Latest Tech Stories

Smart home trends that took CES by storm

Front-facing Oculus Ocular Projection

Witricity’s wireless charging beams power through wood, stone, and even your head

OfficeIQ adds sensor intelligence to your standing desk

HomeKit Compatible iDevices Switch lets you control your house with Siri

For more videos and written reviews of CES exhibits, click here
Check out photos from IDG’s client appreciation party at the Stratosphere Hotel, Las Vegas: http://on.fb.me/1FQYdoj
For videos of volunteers jumping 108 stories off the Stratosphere Hotel in Las Vegas while being GoPro-ed, click here

Marketers Claim to Be More Mobile Than We Might Think

MediaPost

While social media was the top area for expanding budgets in 2015, according to 5,000 marketers polled in Salesforce’s 2015 State of Marketing report, mobile took up the rear.  Seventy percent of marketers said they would be expanding spend for social media marketing and advertising, and 67% would further support social media engagement. But 67% also said they were bullish on location-based mobile tracking, with 66% increasing spend in mobile apps.

While only 58% of those surveyed said they actually had a dedicated mobile marketing team, at the same time a surprising 71% claimed mobile marketing is core to their business. While 68% say they have integrated mobile marketing into their overall strategy, still  43% still say mobile or app traffic is the most important mobile marketing metric.

Really? That makes me wonder what stands for mobile marketing sophistication at many companies. In fact I would take as somewhat naïve the additional finding that 57% of marketers think mobile apps are most critical to creative a cohesive customer journey. Really? In all business segments? If this belief had any remote base in the reality of mobile use, imagine how many apps consumers would have to carry around with them?

From marketers’ responses, it seems that everything looks equally promising to them. When asked to rate the effectiveness of the many digital channels open to them, everything from branded web sites to podcasting, text messaging to blogging fell into a similar range of acceptance, with 58% to 68% finding them very effective/effective. Still, only 27% say they are actually using mobile apps, 24% using text messaging, 19% using mobile push, and 18% using location-based mobile tracking.

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Twitter Buys Indian Mobile Marketing Startup

Time

Zipdial allows people without internet connection to get advertisements and promotions on their cellphones

Twitter is buying an India-based mobile marketing startup for an undisclosed sum, as it seeks to attract users in the developing world.

The Bangalore-based ZipDial allows consumers interested in a company’s services to dial its number and hang up before connecting. The company then sends them free text messages, app notifications and voice calls containing advertisements. The so-called “missed call” marketing means users aren’t charged for the service, because their initial call never connects.

Twitter will use ZipDial to reach consumers who aren’t connected to the Internet. ZipDial’s campaigns have reached nearly 60 million users, the Wall Street Journal reports, and could be used to reach users in Indonesia and Brazil. The company has 56 employees.

Consumers in countries like India, Brazil and Indonesia with developing Internet infrastructures are key markets for Twitter, and 77% of the social network’s 284 million monthly active users are outside the United States.

“By coming together with ZipDial, we’ll help more people around the world enjoy great and relevant Twitter experiences on their mobile phones,” Twitter said in a statement.

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Global Insurers Expected To Increase IT Spend to Over US$100 Billion in 2015: IDC Financial Insights

IDC PMS4colorversion 1 Global Insurers Expected To Increase IT Spend to Over US$100 Billion in 2015: IDC Financial Insights

Singapore and Hong Kong, January 15, 2015 – IDC Financial Insights reveals that global insurers will increase IT spending to almost US$101 billion in 2015, a Year-on-Year (YoY) increase of 4.4% compared to 2014, with rigorous investments in technologies to boost efficiencies and innovation.

This was unveiled in the recently published report by IDC Financial Insights, “Global Insurance 2015 Top 10 Predictions: Perils and Prospects for the New Year” (January 2015, IDC Financial Insights Doc #AP250896), that presents its top 10 perspectives on the perils and prospects for the global consumer and commercial, life and non-life insurance markets for 2015.

Li-May Chew, CFA, associate research director, and global lead for IDC Financial Insights’ Worldwide Insurance Advisory Service, sees investments centering around new core applications development and management such as data warehousing, claims and policy administration systems. These replacements or refreshes are required as legacy IT systems become increasingly complex, inflexible, and archaic, to the point of negatively affecting technology integration and interoperability.

Insurers are further spending on change transformation and business optimization initiatives to augment productivity and support intermediaries, as well as in knowledge management, business analytics and customer relationship management applications to improve underwriting insights, raise customer centricity and intimacy. Also critical is the need to enhance not just the intermediated distribution channels comprised of insurance agents, brokers and bancassurance, but also newer, disintermediated digital portals of the Internet, social platforms and mobile delivery.

“Global insurers need to know where and how to seek pockets of growth amidst economic uncertainty. In order to regroup and focus on sustainable, profitable growth, organizations will have to confront multiple perils – ranging from reengineering or rebuilding legacy applications, to countering mounting insurance fraud – and still ensure they are well positioned to embrace growth prospects as these present themselves.”

“We expect the global insurance industry to invest more rigorously in technologies, and project global IT investments rising to almost US$101 billion this year as these support campaigns to boost efficiencies and innovation. Geographically, the emerging markets continue to shine. While cumulated spending for these nations may still be a comparatively smaller US$19 billion, this will rise at a 3-year CAGR of 6.7% between 2015 to 2018, which is double that of mature nations,” says Chew.

She expects the 3-year CAGR in mature nations to be 3.1% and globally to be 3.8%.

Herein, IDC Financial Insights sees especially noteworthy IT developments within the insurance sectors of the Big Five BRICS economies (of Brazil, Russia, India, China, and South Africa); Chile, Colombia, Mexico, and Argentina in LATAM; and the Southeast Asian countries such as Thailand, Indonesia, Malaysia, and the Philippines.

Chew added that insurers are cognizant that strategic execution needs to be technology-enabled and are hence proactively embracing technology-driven innovation. She is thus confident that their budgets for such deployments will continue to rise alongside, and oftentimes, quicker than annual premiums growth.

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Technology’s biggest challenge is how to connect with people

South China Morning Post

The emergence of the Internet of Things (IoT) will extend the sphere of IT even further into everyday life

The word “technology” leaves many people cold, but its pervasive presence in daily life is only going to make it even more important.

Individuals, businesses, governments and countries are completely dependent on information technology to drive greater productivity and efficiencies.

The challenge for the information technology industry is how to make this dependence more enjoyable and intuitive for users to access content and applications.

This is imperative because in 2015, the emergence of the Internet of Things (IoT) will extend the sphere of IT even further into everyday life. The premise for IoT is that devices of any nature can now be interconnected and used to communicate with each other or with humans in real-time, enabling a raft of new possibilities around data, new ways of interacting and new services.

IoT will be big in 2015, with research firm Gartner predicting 4.9 billion “connected things” to be in use, up 30 per cent from 2014.

Every possible device imaginable is being connected in some way, from Bluetooth-enabled toothbrushes to medical devices, cameras, printers and of course the many wearables that are hitting the market. The reality of a hyper-connected world is here today.

In the business world, Gartner predicts IoT will digitize everything and enable any industry to manage, monetize, operate and extend products, services and data.

Researchers at IDC make similar predictions, forecasting rapid expansion of the traditional IT industry into areas not typically viewed as within IT’s universe.

The whole electronics industry, city-wide infrastructure, auto and transport systems as well as the home, are just a few examples of where IoT is disrupting operations today.

IDC predicts that IoT spending will exceed US$1.7 trillion in 2015, up 14 per cent from 2014, and will hit US$3 trillion by 2020. One-third of spending for intelligent embedded devices will come from outside of the IT and telecom industries.

“This amounts to a dramatic expansion of what we would consider IT,” said Frank Gens, chief analyst at IDC.

This implies a fundamental commitment to innovate and explore new applications of technology with the potential to transform how we live and work – whether through the rapid rise of mobile applications, or the increasingly myriad interactions between machines and human users.

 

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Storytelling in the Age of Social News Consumption

Edelman 2015 Forecast

Social media is having a dramatic, perhaps outsized impact on how digital news is produced, distributed, consumed and ultimately monetized. As mobile and social technologies reach critical mass, it is fueling a footrace to create highly shareable, yet informative news stories that generate traffic. More critically this is changing how journalists approach their craft.

To address this dynamic further, Katie Scrivano and the Edelman Media Network (a team of earned media specialists) teamed with two start-ups, NewsWhip and Muck Rack to study U.S. social news consumption.

Working with NewsWhip, we identified the 50 overall most-shared, English-language articles, and in six key topics – general news, food and beverage, energy, health, technology and finance. Edelman Berland then analyzed each story to identify significant commonalities. This helped shaped a survey of more than 250 working journalists that Edelman conducted in collaboration with Muck Rack.

This research revealed that:

  • More than 75 percent of journalists say they feel more pressure now to think about their story’s potential to get shared on social platforms.
  • To make their stories more shareable, journalists are infusing their stories with five key ingredients: video/images, brevity, localization, more use of human voice and a proximity to trending topics.
  • Nearly 3/4 of journalists are now creating original video content to accompany their stories. However, very few journalists (13 percent) are relying on sourcing consumer-generated video and only 3 percent are using corporate video.
  • Journalists see five key trends impacting their profession this year: more mobile friendly content, faster turnaround times, more original video, smaller newsroom staff and social media growing in influence.

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