New report from Vivaldi Partners Group on the changing role of marketing in organisations says marketers need analytics acumen, commercial insights and collaboration skills to stay relevant
A new consultancy group’s report on the changing role of marketing has stressed the importance of courage, collaboration and commercial instinct if marketing leaders want to continue to be successful.
The Vivaldi Partners Group study, The Changing Role of the CMO was based on interviews with senior marketing executives globally and found respondents are now accountable for market success, not just market perception. CMOs have also adopted a critical role in shaping the strategy for products as well as driving the agenda of the management team, with a P&L mindset geared towards optimising marketing investment.
The report also highlighted the shift of brand power to consumers and pointed out channel-centric planning has been by replaced by real-time, consumer-centric planning.
“Successful CMOs morph into their customers and become their voice,” the report authors stated. “Telling one story is not enough – it is about understanding the consumers’ paths to purchase, being there at the right time, and bringing these stories together in a seamless and relevant way.
“Marketing is moving from a persuasion to an influencer model.”
Other major areas of change impacting the role of the CMO are organisational and operational transformation, and technology innovation.
As a result of its interviews, Vivaldi’s report identified three key skillsets CMOs must have to manage the levels of change being experienced today: Analytics acumen, collaborative mindset, and commercial instinct.
Partnerships are another important component of success across the organisation, particularly with the CIO, as is an ability to collaborate with and lead multi-disciplinary teams including technology, digital, social, CRM, sales operations and strategic talent.
Related: The changing role of the CMO
In addition, the report stated that CMOs must be able to shape the value chain, working with sales on increasing yield, utilise big data from social and multi-channel sources, and shift their thinking from pre-purchase messaging to customer experience design.
“When we asked about key qualities for a successful CMO, one answer that was striking was ‘courage’- courage to experiment, to take risks, to incubate and push boundaries,” the report authors added.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia
Leadership resilience, startups scaling up, marketing best practices, customer insights - these are just a few of the topics we manage to explore in the latest episode of Conversations over a Cuppa with CMO featuring Craig Davis.
There’s no denying there’s been a whirlwind of response to the imminent demise of the third-party cookie from all parts of the industry. But as we’ve collectively come to better understand the implications, it’s clear this change is giving the digital advertising industry the opportunity to re-think digital marketing to support core industry use cases, while balancing consumer privacy.
The COVID-19 pandemic has exposed brands’ CX shortcomings and a lack of customer understanding. Given ongoing disruption, customer needs, wants and expectations are continually changing, also causing customers to behave in different ways. Just look at hoarding toilet paper, staple and canned food, medicinal and cleaning products.
Understanding the core principles of Behavioural Economics will give players in the travel industry a major competitive advantage when restrictions lift and travellers begin to book again. And there are a few insights in here for the rest of the marketing community, too.
JP 54, D2, and D6 EN590,JET A1 AVAILABLE ON FOB DIP AND TEST IN SELLER TANKWe Can supply Aviation Kerosene,Jet fuel (JP 54-A1,5), Diesel ...
Collins Johnson
Oath to fully acquire Yahoo7 from Seven West Media
This article gave me a better understanding about content creation. I learned a lot like this website https://a2designlab.com/ also offer...
Ryota Miyagi
How Remedy is using digital marketing and commerce to drive conversion
JP 54, D2, and D6 EN590,JET A1 AVAILABLE ON FOB DIP AND TEST IN SELLER TANKWe Can supply Aviation Kerosene,Jet fuel (JP 54-A1,5), Diesel ...
Collins Johnson
Oath to fully acquire Yahoo7 from Seven West Media
JP54,D2, D6, JetA1 EN590Dear Buyer/ Buyer mandateWe currently have Available FOB Rotterdam/Houston for JP54,D2, D6, JetA1 with good and w...
Collins Johnson
3-pronged marketing approach for property disruptor Brickx
With a response rate of 80-90%, a well optimized chatbot is a must-have for every business. Check out this link to explore how you can en...
Drishti Khurana
How NRMA’s Arlo the Koala chatbot won over customers