The game has changed. If recent events have taught us anything, it’s that playing by the old rules will leave you sitting on the sidelines.
In a world where everyone wants more, business as usual tactics have lost their effectiveness. Customer satisfaction depends on a more sophisticated and immediate experience. The market calls for more innovation. Companies seek more accountability and a greater impact on the bottom line.
Market intelligence is the answer to each of these challenges which puts CMOs front and center. Businesses will expect them to rise to the challenge and capitalise on new opportunities for value creation.
New rules demand new skill sets and fresh approaches
Download The New CMO Game Plan and discover:
- Three key capabilities for CMOs intent on leading from the front in a connected world where strategy is determined in real-time.
- How to transform five core business functions to deliver long-term equity that focuses on customer value.
- How platform thinking can put your brand in a different league to the competition.
Today’s business challenges demand unconventional thinking about business strategy and brand positioning. In this age of disruption, product and service innovations are not enough. Brands need to think like a platform business to connect more deeply with diverse partners. They also need to rethink their category and relationships.
The power of platform thinking
Platformization presents a clear opportunity for brand leadership. By harnessing technology and data, a platform creates an ecosystem that facilitates interactions and collaboration at an unprecedented scale. Platforms fuel innovation and generate customer insights that spark value creation.
Marketing is the fulcrum of the platform economy. It extracts the intelligence required to uncover the organization’s next play and enables customer experience management. Technology makes it easier than ever to measure customers’ data and track their progress through the customer journey. However, more data doesn’t automatically confer greater insight.
Tasked with being cognizant of the bigger picture, CMOs have their finger on the pulse of developing customer needs. From their position at the centre, the CMO’s analytical acumen is critical.
Their customer data is not only vital to the marketing plan. It can uncover new growth opportunities, direct corporate culture and shape mindsets as the game evolves. A focus on generating business-building competitive advantage will naturally shape the strategy and agenda of the management team.
Platform thinking requires all the diverse capabilities of an organization to be in play and moving in the same direction. Success depends on an organisational culture that celebrates cross-functional collaboration and integration.
Build Your Business, Not Just Your Brand
CMOs who have set their sights on building the business, not just the brand, will need to transcend traditional silos. Without a willingness to lower barriers, the benefits of big data cannot permeate throughout the organization. Their job is to enable and orchestrate, using real-time observations and predictive analytics to inform and inspire. Empowering their C-suite colleagues, and other internal and external partners, to exceed customers expectations is a top priority.
When activated by collaboration and well-honed commercial instincts, marketing’s continuous flow of intelligence makes CMOs vital for value creation and revenue growth.
It is time to rip up the playbook and redefine the field. From transaction to interaction. From competition to collaboration. From broadcast to participation.
Vivaldi has created brand strategies, experiences, innovations and platforms that have answered the questions posed in The New CMO Game Plan for some of the world’s most forward-thinking brands. If you have questions for us, we’d be pleased to hear from you.