Once, chief marketing officers (CMOs) were primarily tasked with brand management, market research and advertising. Today they’re being asked to do a whole lot more—from implementing technologies to analyzing data to customer service to measuring impact—all in an effort to forge stronger bonds with customers.
The competition to gain and hold onto customers has blown the roof off traditional software development. Developers are scrambling to keep up with innovative new technologies coming out of the woodwork on a continual basis. Plus, the demands of a new generation of digital experts—you know them as millennials—are driving the market and must be taken into account. In this environment, what can product designers bring to product development to help their companies thrive?
Customers have the power—the power that used to belong to software businesses back when the perpetual (license plus maintenance) revenue model reigned supreme. While the perpetual model still prevails in enterprise software today, its dominance is fading now that the digital age has ushered in the software-as-a-service (SaaS), or “subscription,” model, which allows companies the convenience of signing up for an externally hosted service—vs. building and hosting their own. What’s more, short-term SaaS contracts (typically one or three years) give companies free range to explore other options.