The digital transformation has been a constant conversation in recent years. With new developments in the landscape, marketing organizations are expected to keep up to date with their marketing tech stack. In the past few years, marketing orchestration has been central to many marketing teams, but many have struggled to implement this methodology. At the dawn of a new era in digital transformation, Welcome introduced a marketing orchestration platform specifically designed to strategically align teams, accelerate execution, and demonstrate results.
To help you better understand marketing orchestration, we've provided a detailed guide on how marketing orchestration evolves and its value in today's marketing landscape.
Trends in today's marketing landscape
The life of marketers has never been so difficult, especially due to Covid-19.
With personal events and activations suspended indefinitely, event marketers had to become tech geeks overnight to immerse themselves in virtual events. Creatives had to cut plans for in-person video shoots, which led to massive changes in campaign tactics. Customer marketers have had to change the way they approach sales proposals, moving longer in-person sales presentations to shorter virtual presentations. Not to mention it is harder than ever to get the job done with noisy toddlers and pets in the background of our video calls.
With the seemingly constant shifting of priorities and go-to-market strategies, we ask ourselves: what lasting effects will our remote work situation have? The truth is that Covid-19 forever changed the way marketers work together, and potentially accelerated digital transformation and remote working as a business method by 10 years or more.
Even before the pandemic, the Fortune 500's rapid turnover was a clear sign that businesses were having to adapt or lose to emerging competitors and replacement products and services. These economic pressures extend to the marketing team as well, where executives are constantly urged to do more with less and stay agile. Perhaps this is one of the reasons the CMO's average tenure is only 41 months and it is apparently in decline.
Marketing leaders need to tie their activities to the real business impact to be successful. As a result, we see four major trends:
- Marketing is under scrutiny as marketing-influenced revenue needs to be proven to justify budgets and headcount. The days of vanity and volume metrics are no longer accepted by the C-suite.
- Then there's the explosion of martech tools available – we're seeing heavy investments and point solutions deployed with a staggering 8,000 in the market. According to a 2020 survey by Sirkin Research, marketing directors expect us to continue investing in martech solutions through 2021. This Sirkin research continues to be supported by Gartner's The Annual CMO Spend Survey Research 2020, which examines how CMOs have responded to the COVID-19 pandemic and their plans to regain their ROI.
- Unlike other front office functions like sales, where each role is similar, marketing becomes a collection of specialists. The average marketing organization now has more than 20 specialized functions that often silo and increase coordination costs as teams navigate complicated workflows between teams.
- Because of all this complexity, Maestro marketing functions quickly emerge – cross-functional change agents who are usually part of Marketing Operations, Integrated Marketing or Global Marketing and have the task of promoting collaboration between different specialist functions and geographies. These Maestro roles are becoming more and more important in order to make processes transparent, efficient and accountable. You work on both sides of the balance sheet and improve both marketing results and costs. While creating this feature was a step in the right direction, it became clear that maestros cannot be fully effective without the right orchestration technology.
Side effects of these trends include team disorientation, slower campaign starts, and a blurry ROI. What are the world's most successful brands doing to become more agile, effectively demonstrate ROI, accelerate campaign execution, and ultimately better align strategy with budgeting, planning and execution? You are turning to Marketing Orchestration as a holistic approach to solving these problems.
What is Marketing Orchestration?
Marketing Orchestration is a holistic approach that enables companies to run higher quality campaigns faster and save valuable budgets and resources. By effectively orchestrating technology, marketing channels, data, and teams, marketers can focus more time on the creative itself, without countless administrative bottlenecks and headaches. Planning calendars, creative resources, campaign status and performance information are available to the entire team in one central location. By aligning the strategy to properly execute, marketers can ultimately produce meaningful results.
Marketing orchestration is a transformative shift and approach to how marketing synchronizes their teams, content, channels, workflows, and data. These interrelated elements need to work together in harmony to face today's challenges.
What is Marketing Orchestration Software?
Marketing Orchestration Software is a tool that enables a holistic approach to orchestrating marketing. This software is the further development and union of several older software categories, including: Marketing Resource Management (MRM), Marketing Project Management, Digital Asset Management (DAM), Content Marketing Platform (CMP) and Marketing Performance Reporting. Just as a conductor needs a baton to orchestrate dozens of musicians playing different instruments, a marketing maestro needs marketing orchestration software to centralize the functions of different systems.
In contrast to generic project management or work management software solutions, marketing orchestration software is specifically designed to meet the specific challenges of marketing organizations. Marketing orchestration software is effectively the link between disparate marketing technologies, marketing teams and marketing workflows to simplify all aspects of brainstorming, creating, managing and delivering campaigns, enabling faster time-to-market and meaningful insights into ROI and resourcing.
Would you like to learn more about Welcome?
Visit the Welcome website to learn how global brands manage their remote teams and change strategies during a global pandemic.
Originally published on October 15, 2020 at 10:12 pm