Why Digital Success Now Depends on Product and Marketing Collaboration?
With every single thing going digital now, brands are expected to survive in a world full of consumers expecting their each and every interaction to be engaging and efficient. People, today, want everything to be tailored exactly as per their preferences. They want things to go as smooth and possible. But is it really possible?
The reality actually differs. There are times when marketing teams do not have the necessary means and resources to deliver the expected customer experience. Furthermore, as getting new customers and maintaining existing relationships now is so much dependent on customer experience, brands cannot survive if they ignore other business areas, like product development and management. So, we can say that product and marketing need to be in sync for the businesses to thrive in today’s world.
Organizations are failing to Cope Up with Marketing
Digital marketing, now, is not just about sitting behind a computer and posting things online. It’s so much more than that. Today, digital marketing needs a lot of skills that were only expected from a product manager a few years back. These include analyzing huge datasets, online tracking, programming CRMs, etc. But still, the people who are responsible for online marketing campaigns work far from those who possess these skills. And this leads to the marketer’s failure in delivering the modern and personalized experience to the consumers.
Marketers highly depend on the product managers who typically decide the roadmap for any major project. And without a mutual understanding of how the desired objectives can be achieved, both the verticals work in isolation. This results in nothing but the inaccessibility of the key resources that marketers desperately require.
In fact, according to a report, many marketers were asked about what resources do they have to tailor the user experience. And more than 40% of marketers claimed that they were low on resources, as the development teams are busy with other necessary tasks.
In short, we need the marketers and product developers to work in sync in order to have the much-required flexibility and agility to achieve the desired results.
Learnings from DNVBs
The DNVBs, short for Digitally Native Vertical Brands, are those brands that primarily interact with their consumers digitally only. And it is due to the combined efforts of their various teams that they have captured a significant share in the market.
DNVBs have changed the standard cross-departmental and top to down communication with a two-way interaction. In this new approach, marketers and developers both can contribute significantly to the decision-making.
This new structure helps them combine all the inputs and resources, and then use them to achieve the one singular goal- making the customer experience as meaningful as possible. Assimilating development with marketing also shortens the testing cycle time, and thus delivers quicker results.
What does the Future Hold for Marketing?
If the brands need their marketing efforts to turn up with some good results, a strong collaboration between the marketers and product developers must be built. After all, product managers help marketers to organize and understand their data, and also to translate the insights into some meaningful results.
But it’s not just a one-way relation. Product managers, too, rely on marketers for various things. Marketers help them to understand how to measure success, what they should test, how to match their tactical decisions with the brand’s overall strategy and many other things.
This collaboration between the two verticals is possible in one of the two ways. First, the CMO takes out some budget and hires its own engineers. This way, there will be people with the necessary skills within the marketing itself, making it easier for them to work without the developers.
Second, the marketing and the product team work under the same executive. The executive can then develop required sync between the two functions and thus effectively use all the resources.
An organization based on the second structure would have all its marketing strategies in sync with their website pages, on-site promotions, and the overall web experience. The journey of the user would be as smooth as possible. With the combined resources that both, the marketing and the product teams, are using, the survival of the brand in this rapidly transforming digital landscape would become much easier.