- By Surjit Chana
- When did the discipline of marketing begin?
A scholarly approach to marketing has been pre-eminent throughout the 20th century, with the University of Pennsylvania offering a course in ‘The Marketing of Products’ as far back as 1905.
Farther back in time, France saw the birth of press advertising – an innovation that shaped more than a century’s marketing practice. In 1836, the French newspaper, La Presse was the first to feature paid advertising on its pages; lowering prices, extending readership and increasing profitability.
So it is perhaps appropriate that we return to Franceto reignite an exchange of views on the next phase in 21st century marketing, which IBM began in New York this June.
Following on from our first CIO-CMO Leadership Exchange, Maison de la Mutualité, in Paris’s Latin Quarter will host more than a hundred CMOs and CIOs from Europe’s leading companies to advance the discussion on “what next?” for marketing.
Part of that discussion will be shaped by the profile of the attendees. Chief Marketing Officers and Chief Information Officers. In an era in which the Internet, social media and smart phones increasingly dominate the marketing landscape, the relationship between CMO’s and CIO’s has never been more important.
This dynamic is increasingly prevalent in Europe, where we see a growing number of companies taking a data-driven, analytics-based approach to marketing.
For example, in the UK, mobile operator Three UK is using analytics to deliver deeper insight into its 8.2 million UK customer base, to create a more personalized and customer centric service. And leading online nursery and baby equipment supplier, Kiddicare has realized a 20 percent growth in its UK online sales by using analytics to better understand customer behavior.
In Germany, retail hypermarket chain REAL part of Metro Group, has launched a new electronic coupon system throughout its 320 stores nationwide. This first-of-a-kind digital coupon system enables shoppers to use mobile phones to select and redeem e-coupons as they shop in stores – even if they have left their paper coupons at home.
On the CMO+CIO Paris Exchange agenda will be an open exchange of views on this new dynamic that is set to radically change the way that companies market their products and services. Like never before, we have the opportunity to ensure relevant and positive customer experience across all brand touch points, by applying advanced analytics to understand customer behavior and turn insight into action.
Based on the confluence of big data, analytics and social media, C-suite executives are now seeking to re-visit the ways in which their companies engage with customers – moving from marketing and selling to ‘customer sets,’ to engaging with audiences of one.
With a data-driven approach, companies can now understand their clients’ needs better than ever, and can potentially change their marketing approach in real-time to meet shifts in customer sentiment and demand. And, in turn, establish new levels of engagement and loyalty and turn marketing into a welcomed service.
The shared agenda ahead is exciting. Together with some of the foremost business leaders, marketers and technologists in Europe, we are well positioned to advance the discussion. And while we would not claim to be writing the history of marketing, we’d hope to be key contributors to the next chapter or two.