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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Marketers have long known the importance of standardising products to assure quality and consistency. For services, however, standardisation is much more complex.
A recent 1000-page Royal Commission report on misconduct in Australia’s financial sector revealed hair-raising stories of excessive commissions, rampant mis-selling and charges levied on the dead. So how do you stop a bank from misleading its customers?
As two of Australia’s stalwart brands in Myer and David Jones continue their respective journeys through troubled waters, it heralds yet another sign of the shifting business environment and shift towards an experience economy.
In this bonus last episode of this new podcast series, BrandHook MD, Pip Stocks, talks with former ANZ group general manager of marketing, Louise Eyres, talks about the importance of thinking like a customer and using intuition to solve customer painpoints.
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