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The consumer path-to-purchase evolution
Are you ready to become a marketing organization of the future?
Digital technologies have forever altered the customer experience. Today's consumers prefer highly personalized experiences as they are faced with a myriad of options for how and where to spend their dollars. Point of sale can now be anywhere and anytime, delivered across dozens of touchpoints and devices.
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What does this new consumer path-to-purchase mean for marketing?
As a result of this evolution, today’s marketing organizations are looking beyond traditional push marketing tactics to reach their consumers. Many consumers want individualized messaging in tailored, targeted offers, promotions, and communications. These always connected audiences are self-reliant and time-crunched, and they now are paying less attention to mass advertising or retailer-controlled communications.
A new onslaught of digital and next-generation touchpoints have required organizations to rethink their digital customer experience strategies. Today’s marketers and modern chief marketing officers (CMOs) must transform and develop a cohesive multichannel strategy that addresses the specific preferences and expectations of all demographics within their consumer base.
The marketing organization of the future
Companies that do not redefine their strategies to keep pace with changing consumer demands may be running the risk of losing relevancy amid a world of seemingly endless consumer options. To be successful, organizations must reevaluate their processes, systems, resources, and leadership in order to establish a proactive and data-driven consumer acquisition and retention strategy.
Many organizations are taking innovative measures to achieve more responsive, granular, and consumer-driven marketing strategies. There has been a significant shift in the role of the modern CMO. Some companies have chosen to eradicate the traditional role of the CMO altogether. Others have taken on a more centralized global approach to marketing by appointing regional CMOs across worldwide markets. Regardless of the approach, becoming a marketing organization of the future requires marketing organizations to change the way they have traditionally operated.
The modern CMO's recipe for success
Charting the path forward
Marketing organizations today are recognizing the need to restructure their processes, systems, and resources to develop a comprehensive strategy that drives growth, innovation, and ROI. The time to become a marketing organization of the future is now.
The question for marketing organizations is no longer if, but rather how, they will adapt to capitalize on this evolution.
The difference the right technology makes
The right technology is a critical component of operating like a marketing organization of the future. Deloitte’s Polaris, a SaaS platform for revenue management and pricing analytics, can provide the data-driven insights that organizations need to identify go-to-market priorities and make more informed, proactive, and commercial decisions. With scenario tools powered by predictive models, Polaris helps organizations price and go to market more confidently.