RMIT University
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With an ongoing technological shift within the marketing industry, change is to be expected. So what should those entering and existing in the field be ready for?
With the rise of big data comes an age of transformation within the marketing industry. Detailed in a recent report released by Deloitte Australia, the digital landscape is developing quickly, and businesses are taking notice of what this will look like – for both their workforce and their customers. Industries must be prepared to move into the future or risk being left behind by their customers’ expectations. So what can we expect?
In the future, expect integration between organisational departments. Siloed businesses are less effective than cross-departmental teams working toward a common business goal. Think IT and operations teams collaborating with marketers to further improve customer experience and offer deeper insight into what consumers want.
Workforces will utilise data to deliver a unique product or service that reflects the trends in consumer behaviour and drives a stronger ROI in the process. Marketers will be expected to bring both technical and creative insights to the table. In a survey from The Economist, marketing executives reported they needed skills in both technical and digital engagement. This further confirms that future marketers will be valued for their ability to multi-skill.
Automation in marketing is becoming widely adopted at a fast pace. AI (artificial intelligence) is currently being utilised for tasks including content writing and voice chat. With the advancement of Google Assistant’s ability to make natural-sounding interactive calls on a user’s behalf, it’s reasonable to expect a business application for this in the very near future.
While initially, this can feel like an encroachment on marketers’ roles, the reality is to expect a shift in human responsibilities. Quality assurance and programming these functions will always be highly required, as is writing the initial “voice” of the application. Marketing strategy will also remain the responsibility of human minds.
Growth within the Australian marketing industry is expected to rise by nearly 13,000 people within the next five years. This is due to the demand for professionals with technology and data science experience. It is also linked to the aforementioned integrated workforce development. Of course, possessing multidisciplinary skills that accommodate the needs of an employer and customers will put those applying at a high advantage of progressing wherever they are.
Opportunities for those who continue their studies will also increase. Graduates who have gone on to complete a masters degree will be perceived as a favourable candidate to recruiters and employers alike – businesses see it as an indicator of commitment and passion for your chosen industry. Employers will expect potential employees to show leadership in the skills they honed on in their degrees or previous fields.
Undertaking further study is essential for current and potential marketers to find success in the future. A masters degree can propel the transition to a marketing career and adapt prior learning to current industry expectations. Current and future marketers should consider a Master of Marketing as the next viable step to evolving their career. The future of marketing is for those that can merge both old and new practices of the industry and guide their workforce through the digital age.
In the third and final episode of our 3-part CMO50 video series exploring modern marketing and why it’s become a matter of trust, we’re delighted to be joined by Telstra’s former CMO and now digital services and sales executive, Jeremy Nicholas, and Adobe VP Marketing Asia-Pacific and Japan, Duncan Egan.
Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.
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