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SAN JOSE, California., July 13, 2021 / PRNewswire / – Today the Chief Marketing Officer (CMO) Council, in partnership with Evocalize, released a new report entitled “The Exponential Power of Collaborative Marketing.”
This new report describes how collaborative marketing can bring companies like CPG suppliers, financial services companies, local businesses and partner networks into the data-driven digital marketing revolution.
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https://cmocouncil.org/thought-leadership/reports/the-exponential-power-of-collaborative-marketing >>
Many local branches and representatives of these companies do not have access to the digital target groups, marketing expertise or digital marketing resources of a national brand. For example, CPG companies do not have access to the digital audiences of a national retailer. Small insurance agents lack digital marketing expertise and they don’t know how to use customer records on digital platforms like Google and Facebook.
Through a collaborative marketing platform, national brands can share actionable data insights, creative assets and other digital marketing information with business partners (e.g. suppliers, agents, locations) in an automated and secure manner that leads to improved business results.
Four main drivers are sparking interest in collaborative marketing today:
- Marketing messaging is shifting to local brands and locations as customers want to have relationships with brands on a local level, and collaborative marketing helps local businesses market more effectively.
- AI and machine learning deliver on their marketing promise to personalize the customer experience at unprecedented speeds and levels, and collaborative marketing enables local marketers to leverage these powerful technologies.
- The increasing deluge of privacy laws makes it harder to acquire data from third parties, including the impending demise of third-party cookies that disrupt the established digital advertising ecosystem, and collaborative marketing offers an alternative route.
- The pandemic has accelerated customers’ shift to digital channels and increased demand for audience behavior data, comprehensive customer insights, and testing methods that facilitate collaborative marketing.
“All of this causes marketing practices to lag behind,” notes Donovan Neale-May, Executive Director of the CMO Council, which has 16,000 members in 10,000 companies worldwide. “What is needed is a new way of working with business partners to share expertise, data and best practices. Imagine a national brand that shares aggregated, actionable insights into customer behavior as well as proven digital marketing resources and best practices so that suppliers and local business partners can generate demand when and where they need it. “
Companies with limited data-driven digital marketing opportunities run the risk of being left behind. For example, without data insight, companies simply don’t know their customers. Nearly 60% of marketers point to inconsistencies in the depth and granularity of customer information, while a shocking 36% admit that, according to the CMO Council, they don’t have the data to know, let alone anticipate, their consumers.
The new report also describes how you can get into collaborative marketing, e.g. B. Set clear goals, identify and evaluate data and measure effectiveness.
“We have seen that collaborative marketing has a significant impact for all partners involved in a rare win-win situation,” said Matthew Marx, CEO at Evocalize. “Local businesses get a ‘simple button’ for digital marketing and access to sophisticated marketing features, and national brands and partners keep control of the news while allowing their local partners to do so. Collaborative marketing leads to efficiencies that make marketing more effective and increase growth for everyone involved. “
For more information and to download the full report, visit: https://cmocouncil.org/thought-leadership/reports/the-exponential-power-of-collaborative-marketing
Via the CMO Council
The Chief Marketing Officer (CMO) Council is the only global network of executives specifically dedicated to high-level knowledge sharing, thought leadership, and personal relationships among senior marketing executives and branding executives from a variety of global industries. The more than 16,000 members of the CMO Council control roughly $ 1 trillion in aggregated annual marketing spend and conduct complex, distributed marketing and sales activities worldwide. In total, the CMO Council and its strategic interest groups include more than 65,000 global leaders in more than 110 countries, spanning multiple industries, segments and markets. More information is available at https://www.cmocouncil.org.
About Evocalize
Evocalize is a Collaborative Marketing Platform (CMP) provider with offices in Seattle, WA and Austin, Texas. Its CMP is used by multi-location brands, marketplaces and CRMs to facilitate large-scale digital marketing execution with partners in a secure environment. Evocalize’s Distributed Marketing and Offsite Ads solutions connect companies to jointly run marketing programs that are not possible on their own to achieve shared digital marketing goals. Please visit www.evocalize.com for more information.
SOURCE CMO Council
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