Editor’s note: We recently sat down with Paul Chachko, Chairman and CEO for V12 Group, to get his thoughts on the future of marketing and the challenges CMOs are facing right now. This blog is a compilation of those conversations. V12 Group is a gold sponsor at RampUp 2016.
- What marketing trends do you predict will be most prominent in 2016?
2016 will be the year of the individual.
As smartphone adoption continues to rise, with an estimated 2 billion consumers worldwide expected to own a smartphone by the end of 2016, and programmatic becoming the norm, the opportunity for brands to be connected with their customers and prospects will be closer than ever.
In 2016 and beyond, personalized, data-driven marketing will become increasingly important.
Using data will be integral to addressing the consumer.
Data is now available in easily accessible and interpretable formats through which marketers can develop strong consumer- based marketing plans that will allow for greater brand affinity and stronger sales.
- Why are you attending the RampUp conference this year, and what are you most excited for?
RampUp has emerged as one of the best forums for the discussion and exploration of how data is permeating the marketing landscape.
This event gathers together all of the leaders in the AdTech industry and allows the exchange of ideas and forecasts of how data will transform the marketing and business landscape.
It will be refreshing to hear and see which companies are emerging with new ideas and tactics to reach the consumer as we progress towards one-to-one marketing.
- What brand do you view as a leader in digital marketing, and why?
Netflix is a brand we look to as a leader in leveraging data as a core piece of their marketing effort.
As a leader in content creation, Netflix is constantly releasing a diverse set of programs for their subscribers.
To ensure these new programs get in front of the right audience, Netflix utilizes all types of available data and creates custom audiences aimed at users who will become followers of these new programs.
- What do you think is the single biggest challenge CMOs are facing today?
CMOs are being tasked with two distinct objectives, managing and growing existing customer bases and building and exercising control over burgeoning marketing budgets.
CMOs will continue to own more of the IT and advertising budget.
And, with the consistent development of new technologies and efficiencies, CMOs will, over time, find a balance that allows for the execution of CRM and acquisition-based campaigns targeted down to the consumer level, while leveraging technology stacks that provide efficiencies of cost and time.
- Fill in the blank. My CMO idol is:
Seth Farbman, the CMO for Spotify.
Seth manages the marketing for the world’s largest music streaming service. He has overall responsibility for the Spotify brand, the customer experience, and all marketing and external communications worldwide.
In an industry that is extremely crowded, competitive, and fraught with high-brow issues, he has managed to bring Spotify to the forefront of online music listening.
Prior to Spotify, he was the Global CMO for Gap, where he helped the brand rediscover itself, driving a rapid turnaround that increased the company’s share price almost three-fold.
This past year, Seth was again named one of Forbes’ top ten most influential CMOs (#9) in the world and one of the Top 50 Most Creative People by Creativity magazine.
Want to hear more from V12 Group, a RampUp 2016 gold sponsor? Save your seat today, space is limited!
Warehousing over 5 billion consumer, business, automotive, and online records, the V12 Group Data Cloud provides knowledge and insight to hundreds of firms, enabling them to achieve marketing success through the use of high-quality, consumer-based accurate data.
V12 Group’s clients are able to leverage 12 distinct audience categories and over 1,500 data segments across 240 million devices to reach the most relevant, responsive online audiences.