| | November 20218arketing technology has accelerated return on investments made by companies on Brand marketing, enhancing wallet size with the customer beyond a few set of transactions. Consider examples of recent years start-up's be it Instacart or names like Swiggy or Byju's in India - these companies have built a lasting brand in a matter of few years. The lead times between brand awareness (through Brand Marketing) and conversions (Performance Marketing) have crunched by months, if not for a few years in many cases.Marketing Technology investments has been the beachhead for this accelerated growth for not just Digital Native, but also for those who have transformed their businesses. Digital disruptions have seeded new market spaces and its enabling business models and have created market shares in those models that did not exist in the first place. These companies quintessentially think, plan and act on the customer relationship as a fly wheel journey. Have considered data at its fulcrum -metaphorically speaking data is the Oil which accelerates this fly wheel (read, Sales) without friction (read, Experience). And each `customer turn' is increasing sales throughout. This is well and truly the new paradigm.Let's look at how Technology and Data gets this fly wheel rip roaring through its turns - It Attract, Engage, Convert, Retain, and Grow. The elements that drip feed `oil' to the `fulcrum' of the fly wheel, so that friction is reduced and energy (resources/spends) converted to outcomes. I see this comprised of two large components. Data Processes should deliver agile ingestion of data in Simplified, Secure and Scalable way - having a data strategy that addresses Ownership, Orchestration and general Governance framework which is realistic and in line with the organization culture that are critical to success and requires extensive stakeholder change management. Marketing big data is probably the most unstructured with an exponential growth in the volume, velocity, and variety of data being piped in and out of organizations.As per a research report by IDC 44 percent of all data available to enterprises goes uncaptured, and out of the data that is captured, 43 percent remains unused, so in effect less than a third of the total marketing data is put to decision-making today. Tool frameworks to support processes across the spectrum of providers have evolved supporting Big Data with enabling Big Ops/Data Ops processes. Any Big Ops process should focus on the missing 67 percent, or `dark data', as highlighted above, and shine light on that.In a nutshell, enable Big Ops processes with software- IN MY OPINIONMARKETING TECH - A CIO PERSPECTIVEBy Satish Panchapakesan, Senior Vice President & CIO, Arvind FashionsMSatish Panchapakesan
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