Why Technology is no longer an Industry
[by Anders Nygren, CEO of Peregrine AB]
Technology is no longer an Industry. Technology is rather the underlying driver of the dramatic changes we see in all industries, including marketing and media.
At Peregrine, we have a very bullish view on how technology could improve the way a brand communicates with its audiences, how it can enable us for the first time to do personalisation at scale and how the marketing experience can be less intrusive and annoying and more relevant and inspiring.
For early movers, this is a substantial business opportunity, for laggards a major risk. The challenge is that this will not be an easy transformation for CMOs, it will not be easy because marketing departments are not that techie and their best friends internally do not work at IT, period. It will also not be easy because the technology transformation is not as visible as the digitalisation once was.
When you as a CMO see your brand KPIs drop followed by the CSO seeing sales drop your CEO won’t be happy. What happened? Maybe one of your competitors finally did implement a solid marketing technology stack and can now execute mass personalised messaging combined with highly efficient media buying, and you can't compete anymore.
So where do you start?
Well, one idea is to map your marketing technology stack to the key areas you need to manage, and figure out who owns the this at you company. Below is a desired state for a technology stack we have done for one of our recent clients. We believe that this map, combined with a road map on how to get there, is a very powerful tool to leapfrog your marketing into the age of technology.
At Peregrine, we believe the right order for a successful marketing transformation is to look at processes first, followed by technology and finally organisation. We have seen too many companies trying to do it in the wrong order, resulting in just putting technology in front of people and expect them try to figure out what to do.
Let’s do it once and do it right instead. Please feel free to reach out with any questions you may have.