Most Chief Marketing Officers (CMOs) expect COVID-19's impact on the bottom line to be short-lived with better times ahead in the next 18 to 24 months, according to Gartner's CMO Spend Survey 2020 published this week. About 73% of CMOs have a positive outlook for business performance over the next year and a half to two years, according to Gartner researchers. CMOs also will increase investments across major channels and resource areas in 2021.
But are CMOs merely dreaming? Gartner warns they could be "overly optimistic" and not in line with other C-Suite executives. “Marketers remain stoic in the face of adversity and are significantly out of step with other members of the C-Suite,” Ewan McIntyre, vice president analyst for Gartner for Marketers, said in a press release. “We are seeing a significant number of CEOs and CFOs building scenario plans that include a second wave of the COVID-19 pandemic. As we progress into the ‘recover’ and ‘renew’ phases of this pandemic, CFOs will turn their attention to profitability, and marketing has the dubious honor of topping the list of functions where finance will look to trim expenses even further.”
More than 44% of CMOs have experienced mid-year budget cuts as a result of the pandemic, and 10.7% of those expect their budgets to face significant cuts of more than 15%, Gartner researchers also found. The CMO Spend Survey 2020 featured more than 430 marketing executives in North America, the UK, France and Germany from April through May of this year.
In other customer experience and digital marketing software news ...
Lytics Launches Lytics View
Lytics, a Customer Data Platform (CDP) provider, has launched its new product, Lytics View. Lytics View offers an expedited onboarding process, according to company officials. They promise marketers will be up and running in seven days through Lytics’ machine learning that makes data actionable. It provides suggested actions on specific marketing objectives. Lytics View supports increasing conversions, reducing churn, boosting customer engagement and acquiring more customers. Each marketing use case features two intelligence reports.
Nuxeo Unveils Low-Code User Interface for Nuxeo Insight
Nuxeo, a cloud-native Content Services Platform (CSP), has announced a low-code user interface (UI) for Nuxeo Insight, an artificial intelligence (AI) service that enables companies to use their own data and content to train custom machine-learning (ML) models. Nuxeo officials said non-expert users can use the new UI to define and train new ML models and deploy and administer these models in production use cases.
Users will be able to:
- Select the various values and data types they want the new model to populate.
- Apply different parameters for predictions.
- Select the appropriate content and data for model training.
- Perform renditions or transformations.
RollWorks Launches Sales Insights
RollWorks, a division of NextRoll, Inc., has announced Sales Insights. The new product in the RollWorks Account-Based Platform is designed to identify spikes of account-based activity such as website engagement and advertising click signals. Those insights create alerts directly in Salesforce and via daily email digests delivered to sellers. It includes account-based metrics, account fit-score and drill-downs to specific activity for buyers within an account.
Tealium Debuts Machine Learning Solution
Tealium, which provides customer data orchestration software, has announced the general availability of Tealium Predict ML. This offering includes built-in machine learning technology for Tealium AudienceStream, Tealium's CDP. It is designed to anticipate customer behaviors using machine learning for audience segmentation. It also includes a Behavior Health Rating feature, which allows users to view existing data to provide healthy or unhealthy machine learning insights on specific behaviors.
Acquia and Kibo Partner in Commerce
Acquia, a provider of digital experience software, and Kibo, a cloud commerce provider, have announced a strategic partnership to offer headless ecommerce experiences. It combines Acquia’s open digital experience platform and Kibo's API-first microservices framework that supports headless ecommerce.
The companies tout one solution for ecommerce, customer data and marketing deployment strategy with open technology, including Kibo’s native CMS and Acquia’s own personalization solution (Lift).
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