There was a time that marketing and technology could be managed independently but that time has passed by and it is time for brands to realize the importance of technology as just not an enabler but as an intrinsic part of the entire business process. This is the new age when a mythical creature called the Chief Marketing Technology Officer is fast becoming a reality. This was the topic of conversation of Sheldon Monteiro, Global Chief Technology Officer at SapientNitro. Monteiro was speaking at the Nasscom Martech Confluence 2015 held in Mumbai yesterday.
"For over 50 years the 4 P's of marketing have defined how we market our products. But for the longest time, 'Promotion' has dominated marketing," he said.
Comparing marketing as it stands now to what, he called, the 'Mad Man' era, Monteiro said that in that era marketing was all about interrupting the consumer behavior; something that no longer holds true.
"Today's consumer decides when and where they will see the ad and engage with the consumer. Technology used to empower companies once but it now empowers the consumer. The only way to survive is to be consumer-obsessed" he said.
To highlight this, he took the example of the example of the iconic Coca Cola 'Hilltop' ad of 1970.
The original ad was a broadcast-only ad run in 1971. Using available technologies and new ways of connecting with audiences, a new version of the ad was recently run that enabled more intricate connections between people.
"Taking a broadcast message and updating it with technology to do new things for a new age shows that the impact zone of IT and marketing is expanding," explained Monteiro.
According to him, effective marketing technologies need to influence at different levels and audiences. He took another example of how IT and marketing are coinciding; that of a study done by SapientNitro recently about the marketing and technology professionals present in the companies today. According to the study, most 'Martech' professionals fell in six separate archetypes. These can be further segregated to 3 each within marketing and technology. "Having people in an organization with skills centered around all six is very rare," admitted Monteiro.
Speaking to the audience, he said that the companies of today need to think our of the box; start taking more risks. "The future of marketing has always been about the future of consumers. There is no better time to get into 'MarTech' Consumers want to interact with companies on their terms. The way of doing this through technology," he said.