Customer experience is eclipsing product as a competitive differentiator. CMOs are recognising this shift and talking the talk. But are they also walking the walk?
The number one objective enterprises give for embarking on a digital transformation is to improve customer experiences with new engagement models, according to IDC’s 2017 global study.
As marketing emerges from the black-arts and into the clear light of science, the new availability of data offers a bonus opportunity. Not only will data predict buyer behaviour and make marketing more accountable to the business, it can also ignite a more effective management style – agile.
IDC finds that buyers are evolving their purchase practices faster than vendors are changing their marketing practices. To keep up, the CMO role is quickly moving beyond its traditional boundaries.
Each day, a CMO spends a significant portion of time on things that didn’t even exist 10 years ago. In 10 more years, the changes to the marketing function will be even more acute.
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In this latest episode of our Conversations over a Cuppa with CMO series, we catch up with Jane Power, who stepped into the director of marketing and transformation role at GenesisCare in April 2020.
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.
Unicorns, the Sunken City of Atlantis, Zeus: They are very famous. So famous in fact, that we often think twice about whether they are real or not. Sometimes if we talk about something widely enough, and for long enough, even the strangest fiction can seem like fact. But ultimately it is still fiction - stories we make up and tell ourselves over and over until we believe.
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