Transforming business at the intersection of marketing and technology - I had the privilege to be the keynote speaker on that topic at this year’s IQPC CMO Exchange, here is extract from one of the interviews as published by IQPC.
IQPC Exchange: Both Marketing and Technology are evolving every day, how does one stay up to date?
Mayur Gupta: It starts with a realization that the definition of “up to date” itself is being updated especially in the context of marketing and technology – it is no longer a curriculum or a book we can read starting with the “xyz for dummies”. It is an ongoing evolution where you never seize to experiment, learn and evolve yourself.
Secondly and more importantly, it is no longer about marketing and/or technology alone. It is about convergence that goes beyond these silos which means as a marketing technologist I should know about finance, media, data and everything else that contributes to consumer experience.
Lastly, you cannot be a passive learner anymore. It’s key to stay active across the networks, engage with thought leaders and instead of getting distracted by shiny objects, try and focus on a framework that enables you to adapt to all the innovation around you.
To be specific, there are so many learning opportunities and options to chose from – online content, publications, blogs, social platforms, start up community, incubators & accelerators as well as focused events that are great platforms for education and evolution.
IQPC Exchange: All this new and exciting technology, how should a marketer pick without getting too overwhelmed?
Mayur Gupta: Technology gets overwhelming because it is often overstated, the purpose of technologists should be to simplify technology but it rarely happens that way. My only advise to marketers or anyone who has not played around with the technology is:
Firstly, while you don’t have to master technology (there may never be such a thing in fact), even just creating a single HTML page and viewing it on the browser could go a LONG way. Not only does it teach you about the dynamics but will give you a new perspective and understanding of the potential technology brings, from it being a commodity to a strategic tool.
Secondly, while technology is exciting and overwhelming at the same time, it has a mission and a purpose that is the “consumer and the consumer experience”. As long as you can always tie technology back to it, you will be amazed how simple it becomes.
IQPC Exchange: The consumer has more power than ever before, how are CMOs reacting to this change in behavior?
Mayur Gupta: By becoming “consumer obsessed”. We live in a world led and controlled by the consumer and having them at the center of your fundamental strategy is the first and most important step. The successful leaders are able to imbibe this mindset within their organization and at the same time they are able to build an “agile” and “innovative” framework that responds to the change around them. They are driving convergence at the most foundational levels, making the conventional silos disappear not just in data, technology and media but also in the way they organized and how they operate.
IQPC Exchange: Now that we know how CMOs are reacting, what do you think the consumer-marketer relationship will be like 3 years from now?
Mayur Gupta: Firstly, while most may be reacting there are some who are pro-actively acting in finding new and more promising ways to engage with the consumers. The only way to predict what the next 3 years may bring to the consumer-marketer relationship is by looking at how quickly and dramatically it has evolved in the last 3. It will continue to shift towards a one on one two-way dialogue that is extremely relevant and contextual for the individual consumer. We will be in an “always on” mode of listening and engaging both as brands/marketers as well as consumers.
IQPC Exchange: Lastly, why should a senior Marketing Executive attend the CMO Exchange and what do you hope to learn by participating in the Exchange?
Mayur Gupta: As marketers, we are presented with unprecedented opportunities to lead innovation and change within our organizations and outside within the digital landscape. The CMO Exchange is a must attend for executive marketers looking to maximize their effectiveness in an era of connectivity and consumer engagement. I’m looking forward to sharing my experience in driving innovation and consumer experiences at the intersection of marketing and technology and also learning from my peers and industry thought leaders on how they are capitalizing on these opportunities and constantly responding to the change.
Mayur Gupta is also one of the prestigious members of the Speaking faculty at the 3rd Chief Marketing Officer Exchange, January 22-24, 2014. The Chief Marketing Officer Exchange will be gathering Marketing Executives from Fortune1000 companies for three days in sessions, networking opportunities, BrainWeaves® and more. It will also be co-located with the Mobile Marketing Exchange at the Sawgrass Marriott Resort & Spa, Ponte Vedra Beach, Florida. For more information on Mr. Gupta’s speaking session, “Transforming Business at the Intersection of Marketing and Technology”, or the event itself and how to get your invitation visit http://www.cmo-exchangeusa.com today.