When people talk about the relationship between technology and strategy it’s often defined in a very linear fashion - either your strategy shapes your technology, or you technology shapes your strategy.
Both of these approaches have problems. You shouldn’t base your strategy on the technology you have at your disposal - that leaves a rather narrow scope for strategic development, whilst defining a strategy and then scrambling for the appropriate technology is also a recipe for disorganisation.
The correct approach is a circular one, where technology acts as a feedback mechanism for a company’s strategy.
Although it’s important to understand how your strategy can be influenced by technology, and to use this as a starting point, as you move forward it should be your strategy that drives your future technological investments. With technology then acting as a feedback mechanism, directly feeding back into your strategy’s future.
That’s why it’s essential for companies to at least have a few minor technological exploration initiatives in place, as it allows them to see whether their’s something out there which would make them more competitive.
The Chief Marketing Officer may well be the C-Suite who has to spend the most on technology in the coming years. It’s easy to forget that technology remains a fairly new revelation in marketing, making the feeling of despair experienced by certain individuals understandable.
There’s a fine line between respect and fear and companies need to make sure that their employees have the confidence to get to grips with new technologies, and even challenge them when they feel there’s something which isn’t being achieved optimally.
The use of software platforms such as Marketo and Salesforce, improved data analysis and digital media all point to a marketing space which has experienced considerable change over the last decade.
Technology’s already transformed marketing, it’s now just a matter of how far it’s going to take it.