CMOs Of The Tech-Ade
In 2019, Nike, the world's biggest trainer manufacturer, introduced a new AR feature called Nike Fit in their e-Commerce app that allowed customers to measure the whole shape of both their feet and, in turn, find more accurately fitting shoes. This worked wonders for the company in reducing returns and exchanges. Similarly, in India, Lenskart.com, the eyewear retailer, was one of the early entrants into the AR space, introducing `3D Try On', a feature that shows you what a frame looks like on your face. Besides the obvious benefits of the tech advantage, something that worked well through these initiatives is that it paved the way for extensive marketing campaigns. It once again reminds us of the importance of Chief Marketing Officers (CMOs) working more collaboratively with technology departments.
It's no wonder organizations expect more from their CMOs in the tech-ade. And it's only fair that they expect CMOs to find new avenues to penetrate the market, hit the right nerves, and create the right, time-relevant image for brands. Surveys suggest that most global leaders are preparing for a U-shaped recovery, considering a long gap between recession and growth. It's quite an established fact that the pathway ahead will be extremely rough for CMOs worldwide. From trimmed operational budgets to complete disruption of the marketing models and the need for new strategies, lasting effects are anybody's guess.
While working closely with technology & UI/UX teams, marketing leaders also need to focus heavily on external marketing dynamics, customer needs, and general buyer behavior while also ensuring technology interventions wherever possible. When done right, this new, smarter aligning operations could open up new avenues for CMOs, despite the challenges of the post covid world. This special issue is all about some of the best CMOs in Asia.