Viant Chief Executive Officer Tim Vanderhook shared his thoughts on how chief marketing officers can manage budgetary constraints during a Thought Leadership Spotlight Presented by Viant at the 2015 Chief Marketing Officer Leadership Forum: Fall Event in Chicago on Sept. 29. In his presentation, “Solving the CMO’s Dilemma: Driving True Return on Ad Spend,” Vanderhook noted that marketers are responsible for driving customer engagement. As such, Vanderhook said, an organization’s marketing team must be able to justify its return on investment (ROI) consistently.
According to Vanderhook, delivering personalized customer experiences can help an organization bolster its marketing ROI. In addition, he said an organization should explore ways to connect with its clients on multiple devices. By doing so, Vanderhook said, an organization can break down silos that exist in various departments and develop a customer-centric perspective: “We want to be here, connect all the devices to the person, know the transactions that happen in-store and what they’re doing online, but the real reality is [data’s] all siloed in many different places. Putting [this data] all into one place that’s actionable is very hard.”
Vanderhook also pointed out that consumer behavior is fluid and random. However, he said understanding the consumer’s identity can help an organization tailor its messages to the right audience day after day: “Identity is not new. … You build on that with phone numbers, you build on that with e-mail address, and now today, you have tons of different ways to identify consumers — phone number, physical address, e-mail address, name, social handles. All of these link back to a real person.”
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