Marketing Magnified

IN THIS ISSUE

» Improving the Customer Experience
Insights from Satmetrix CEO Richard Owen

» Marketers’ Top 10 Wish List for Agencies of the Future
A national survey of CMOs and senior marketers

» Work Smarter
Investing in marketing performance capabilities

» Future Tense: The Global CMO
A report from the Economist Intelligence Unit

FEATURED REPORTS

Customer Affinity from Optimized Content Delivery

Seeking to measure the consistencies and disconnections in customer experience, the CMO Council set out to audit and catalog the Variance in Customer Experience across 25 major brands. The program was designed to identify limitations, liabilities and lost opportunities when companies do not enforce brand guidelines, control digital assets, and harmonize content origination and delivery channels worldwide.The final result is a comprehensive audit of individual channels of content delivers, along with an overall ranking that aggregates all touch points to create one final score that assesses the totality of the customer experience.

Learn more »

FEATURED PROGRAM

Giving Customer Voice More Volume: Using Always-On Listening and Feedback Systems to Improve Customer Advocacy and Experience

Giving Customer Voice More Volume The CMO Council’s Giving Customer Voice More Volume initiative will drive broader adoption and use of customer listening, feedback, engagement and advocacy systems across all markets and industry sectors, as well as educate senior marketers on the need to embrace their contact center, help desk, telemarketing, consulting and agency partners in order to integrate Voice of Customer (VOC) capabilities into mainstream operations and organizational fabrics. The program will advocate for marketing’s ownership of the customer experience and the role of marketing executives in ensuring that all operational areas and organizational processes (products, programs, channels, functions, policies, touch points and services) are harmonized and optimized to deliver on brand promises and drive customer advocacy, satisfaction and loyalty.

Learn more »

DOWNLOAD

power sponsorship

White Paper: Sponsorship in a Scary Economy

When sponsorship is done poorly, there really isn’t any faster way to waste money. When it is done best-practice, however, there is no more powerful marketing media than corporate sponsorship. It’s flexible, creative, creates and underpins authentic relevance with your target market, and provides an unparalleled opportunity to add value to your relationships with those markets. No other media can do all of that. When looking at marketing cuts, make the deepest cuts in the marketing areas that are providing the lowest returns – that is, being least effective at changing the perceptions and behaviours of your target markets, hence, making you the least amount of money.

Read more (PDF) »

SURVEY

power sponsorship

CMO Council Survey:
Mapping Global Operational Models


Given the fact that 50 percent of CMOs are hired to fix broken marketing organizations, optimizing operations in today's digitally driven, customer-centric, globally distributed, cross-cultural marketing organization is particularly timely and relevant. The CMO Council is undertaking a new research initiative entitled "Calibrate How You Operate: Improving Marketing Yield, Visibility and Process." The study will explore how to optimally structure, streamline, unify and manage today's globally dispersed marketing organization.

In an effort to maximize the value of this study, we are inviting you to engage in this thought leadership discussion by participating in a 15 minute online survey. Your responses will be kept strictly confidential and, upon release of the report, we will share aggregated findings with you.

Take the Survey »

DOWNLOAD

power sponsorship

Webinar: Blogs, UGC and
Social Networks

Creating and Measuring Great Social Media

Social marketers are testing many tactics when it comes to social media. Do you know which tactics are best for your business? For your customers? For your shareholders? Emily Riley of Jupiter Research, Jeremiah Owyang of Forrester and Brian Watkins, Social Media Manager at Omniture, discuss best practices for successful social media campaigns. They cover:

  1. Shifting Consumer Behavior due to Web 2.0
  2. Best Practices in Social Media
  3. Measuring and Realizing Revenue from Social Media

Register to view free webinar »

MARKET INSIGHT

Consumers Await on Social Networks, Befriended and Poked by Companies

Nearly six out of 10 Americans who use social media interact with companies on social media websites, according to a September 2008 study conducted by Opinion Research Corporation for Cone.

The researchers found 85% of social media users thought companies should interact with their consumers through social media, at least when needed.

“Americans are eager to deepen their brand relationships through social media,” said Mike Hollywood, director of new media at Cone, in a statement. “It isn’t an intrusion into their lives, but rather a welcome channel for discussion.”

Cone is a brand marketer that counts social networking among its capabilities, so its enthusiasm is understandable. But a growing number of retail e-commerce companies agree, judging by an August 2008 study conducted by Vovici Corporation for Internet Retailer.

Nearly four out of 10 online merchants surveyed used social networks. Of those, nearly one-third said they had a page on Facebook, and more than one-quarter said they used each of MySpace and YouTube.

Learn more »

READING

Answering the Ultimate Question: How Net Promoter Can Transform Your Business

Answering the Ultimate QuestionFred Reichheld’s 2006 book The Ultimate Question (that question being, “How likely is it that you would recommend this company to a friend or colleague?”) challenged the conventional wisdom of customer satisfaction programs. It coined the terms ‘bad profits’ and ‘good profits’ and pointed to a faster, much more accurate way of gauging customers’ real loyalty to a company, introducing a quantitative measure (the Net Promoter Score) for establishing a baseline and effectively tracking changes going forward. Richard Owen and Laura Brooks are co-developers, along with Reichheld, of the methodology behind answering the question. In this book, Owen and Brooks tell how—based on a variety of real case studies—to actually embed Net Promoter discipline in organizations of all types. Available from Amazon Fall 2008»

UPCOMING EVENTS

Social Media Strategies Conference
Date: October 29 - 30, 2008
Location: San Francisco, CA

The Social Media Strategies Conference is the premier event for CMOs, Social Media Managers, Online Community Managers, Corporate Communications, PR, Marketing, Advertising, and Recruiting Professionals and will focus on how organizations can leverage Social Media to achieve their business goals. Attend for $150 off by using the special CMO Council discount code “cmo123” (insert code in coupon box on Google Checkout page). More »

Mobile Marketing Forum
Date: November 12 - 13, 2008
Location: San Diego, CA

Whether beginner or expert, the Mobile Marketing Forum is the place to learn about all things mobile. How to start your campaign, how to define your strategic objectives to ensure optimal engagement with the consumer and how to leverage all of the options in mobile effectively. If you are interested in mobile marketing, this is the conference for you! More »

Giving Customer Voice More Volume Dinner Dialogue
Date: November 19, 2008
Location: Palo Alto, CA

A CMO Council-hosted lively discussion to reveal and review best practices in optimizing customer experience in an era of upheaval and changing business climate. If you are interested in attending, contact Kim Korupp »

CMO Summit 2008
December 10–11, 2008
San Francisco Bay Area, CA

This year’s Elite Retreat involving top marketers from leading global brands will focus on "Routes to Revenue" in a highly interactive series of breakaways sessions, CMO presentations and group discussions. This year's theme is "Routes to Revenue" and will address the marketing imperative to analyze, evaluate and pursue new revenue sources, segments and strategies. More »

PODi App Forum
Date: January 19 - 21, 2009
Location: Las Vegas, NV

The PODi AppForum is the only conference dedicated exclusively to digital printing applications. Thought-provoking sessions tackle productivity, operations, applications, technology, one-to-one campaigns, business strategies, selling and more. Print service providers and marketing experts learn the latest trends in selling and using digital print solutions. More »

JOIN THE CONVERSATION

If you would like to submit an article or recommend one, please follow these guidelines:

  • Maximum 1,000 words
  • Microsoft Word format
  • Use Arial typeface
  • Appropriate Content for Executive Level Audience
  • Marketing-Related Content

Send your submission as an email attachment to:
Liz Miller
VP, Programs & Operations
CMO Council
mm_content@cmocouncil.org

10.09.08 New Research by CMO Council Reveals Companies are Failing to Realize Customer Revenue Potential
CMO Council Unveils Preliminary Findings of New Study on Maximizing Routes to Revenue™ More »
10.13.08 CMO Council Audits Customer Experience
Companies Need To Unify Multiple Channels of Engagement and Ensure Consistent Messaging and Content Delivery in a Challenged and Consolidating Market. More »

EDITOR'S CUT

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I’m a bit obsessed with customer experience at the moment. It could be because after 12 long months, our expansive audit of over 100 points of customer content engagement with 25 major brands is over. I have been surrounded by the assessments of our auditors who engaged with those brands, surprised by some reactions, disheartened by others. I am...obsessed.

So, how has this manifested? At the CMO Council, we are undergoing a major revamp of the experience with our website...more on that in months to come. But, what would happen if we had included the Obama and McCain campaigns in our Variance in Customer Experience audit? So here we are: The Variance in Voter Experience: The Election Edition. Here is what I found...

Web: Edge to Obama
Editor's Cut Image The official Barak Obama website does a tremendous job with pulling visual identity elements (most notable the graphic of the sun/flag emblem that has become the apparent “logo” for the campaign) and verbiage that pulls in the brand promise of “change.” Change is a common word used across most of the content, constantly reminding the reader that Obama is a brand for change. The site is easy to navigate, however, if you land on the donation page, there is no clear direction that can get you back to the main site without donating. The Obama site also clearly indicates that it is Web 2.0 savvy providing home page links to everything from Twitter to Faithbase, even an Obama Mobile campaign where you can text HOPE to a shortcode...although I wonder why they didn’t pick CHANGE.

This is not to say that the McCain campaign does not do a good job. The site includes a bit of “personalization” in that you can state you are a decided or undecided voter. The McCain camp has selected an emblem, a star, that does a nice job of pointing to the main promise of “Country First”. However, there is little consistency and tie in from the verbiage or images that connect the two throughout the site. Navigation on the site is also a bit frustrating as pages were not linked correctly or did not actually contain the content I expected. The regionalized state pages are also inconsistent with some states not having much to say by way of local news, commentary or local ties to the campaign.

Contact center: McCain over Obama
Editor's Cut Image Both campaigns have rather large operations in this regard. The call centers mirror the message, rhetoric and promises that can be found in most available online campaign material. Both appeal for support, both in votes and cold hard cash. I will say that the McCain operator was SUPER excited to talk to me and had ready access to answers and options. He asked some great questions at the front end of our conversation and really wanted to engage in conversation the minute I said the golden words, “undecided voter.” I did have a hard time actually getting off the phone. But, again, as this isn’t about the content he had to offer, I can’t hold it against him.

The Obama campaign does a nice job in automating the system, but again the McCain call experience is all about ease of use with lots of options to get the caller what they want, faster. The Obama campaign also positions their “donation trouble shooting” in a more negative light, actually providing the option to select if you have had problems with donations online or are calling regarding a problem with the donation processing. Sure made me think I should be looking for a problem.

Both campaigns miss a golden opportunity to do more on the phone however. This campaign is all about personal connection…yet neither campaign has the candidate speak in the pre-recorded message...is this a connection opportunity missed? The message is also focused on the function at hand, not really leveraging the time with the audience.

This is where I stopped in the engagement. The thought of treking through the streets looking for a campaign office or rally was just above and beyond even my obsession. But, as you can see, it is easy to spot the good, bad and inconsistent when you are truly looking at how content engages with an individual voter/customer. If you’d like me to turn the lens on your customer experience, by mid-November, I’ll have a void in the campaign-watch schedule, so let me know!

Until November,

Liz Miller
VP, Programs & Operations
CMO Council

FEATURED ARTICLE

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Richard Owen
Improving the Customer Experience
By Richard Owen, CEO, Satmetrix



Richard Owen is President and CEO of Satmetrix, responsible for all aspects of strategy and day-to-day operations. Prior to joining Satmetrix, he was Chairman and CEO of NASDAQ-traded AvantGo, Inc., the leading provider of Enterprise Mobility Solutions to Fortune 1000 companies. AvantGo was successfully sold to Sybase, Inc. Before running AvantGo, Richard spent eight years at Dell Computer Corporation in various executive positions, most recently as vice president of Dell Online Worldwide. He was responsible for all aspects of Dell's Internet strategy and online business revenues on a worldwide basis—building Dell's online business to cover 50 percent of the company's sales volume. Richard began his career as a consultant for KPMG Management Consultants, where he worked for European high-technology manufacturers in the EMEA region on marketing strategy and business development, including Hewlett Packard and Apple. He holds a Bachelor's degree from Nottingham University in England and a Master's degree from MIT Sloan School of Management.

Improving the customer experience is a smart business and marketing strategy. It’s also lucrative. There are many studies that support this fact, including a March 2008 Forrester report, The Business Impact of Customer Experience, where analyst Bruce Temkin wrote, “Our analysis shows that good customer experience correlates to loyalty — especially when it comes to consumers' plans for making additional purchases.”

To Temkin’s point, I’d also add that the economic value extends beyond just “repeat purchases” to newly acquired customers who were influenced by the positive word of mouth generated from loyal customers.

Delivering an exceptional customer experience is a simple concept, but making it happen isn’t. Many executive believe they are delivering a superior customer experience, but customers often tell a different story. According to a 2006 survey conducted by Bain and Company, 80 percent of companies believe the customer experience they provide is superior. However, only eight percent of customers agreed.

Why is there such an enormous gap? There are many factors to transform your business around the customer and organizations have turned to Net Promoter as a way to drive customer centric behavior. But measuring the Net Promoter Score is only the beginning. To achieve the benefits you need “know-how” and execution. This was the motivation for a new book my colleague, Dr. Laura Brooks, and I wrote and will release in November called Answering the Ultimate Question.

The book is based on many years of working with business leaders to learn the actions companies take to achieve Net Promoter success (i.e. improve the customer experience and increase loyalty). We examined hundreds of companies and talked to numerous CEOs, CMOs, managers and frontline employees that were implementing the Net Promoter discipline to uncover best practices and create a practical how-to guide. What we learned through our journey was that the difference-maker for success was the company’s ability to align its culture and the operations of the organization around the customer experience.

As a result, we developed the Net Promoter Operating Model, a checklist of six critical components that enables practitioners to improve the customer experience and increase loyalty. Below is an overview of each component covered in much greater detail in the book.

Net Promoter Operating Model

Create Customer-Centric DNA – To deliver a superior customer experience, companies must create a customer-first culture where every employee believes in its value, understands their role and is given the tools to achieve it. This is a make or break issue. For most companies, it requires a transformation. Two key components to make it work are executive sponsorship and organizational alignment.

Executives must commit resources, be personally involved and constantly communicate the importance of the customer experience. The most successful companies create a governance structure that includes executive oversight, integrated teams across business units and leaders who operationalize the program by establishing internal processes to collect and distribute customer feedback and train employees on how to take action.

Develop an Enterprise Roadmap – The customer relationship isn’t defined by a single interaction; nor is it equally weighted for each customer. For example, you can focus on improving customers’ purchase experiences, but your efforts will fall down if your customer has a bad experience with other areas of your organization such as delivery, service or billing. As a result, it’s important to map out what we call the “customer corridor,” which represents the experience your customers have with each function in your organization. By doing so, you are able to identify what has the greatest impact on customer loyalty and prioritize your actions accordingly.

Build Trustworthy Data – Understanding the optimal customer experience requires trustworthy data that is accurate, reliable and relevant. That’s why it is important to measure the right customers, with the right questions, at the right time. Not all customers are created equal. So don’t “blast survey” your database. Instead, segment and target the customers that are most valuable to your organization. For B2B companies this is even more critical because of the different levels of decision-makers involved in the relationship. In Answering the Ultimate Question we provide advice on what survey channels to use and the questions to ask, with an emphasis on maximizing customer participation and understanding the drivers of loyalty.

Identify Root Cause – Root cause analysis is a problem-solving method by which you study and identify the initial cause or causes effecting the outcome. Knowing the root cause of loyalty and customer dissatisfaction is critical to improving the customer experience. In our book we examine multiple approaches to understanding root cause. Without going into detail about each, the important thing to remember is to structure your Net Promoter program so your customers can tell you “why” they feel a certain way about their experience and how you can improve it. By understanding what your customers want, you can categorize responses, identify patterns and themes, discover unidentified issues and prioritize your actions for improvement in areas that have the greatest impact.

Drive Action & Accountability – All the steps up to this point are important, but are of no use if you don’t take action. At the heart of a successful program is the company’s ability to put understandable, actionable and timely information in front of employees who can use it. The information employees receive should line up with their role. Employees should be trained to understand customer feedback and act on it accordingly to improve each individual customer experience. Additionally, an accountability framework should be in place so that every employee understands his or her responsibility – and incentives – for taking action and improving the customer experience.

Innovation & Transformation – The overall goal of a Net Promoter program is to experience both internal and external transformation as well as product, service and process innovation. Successful companies deliver innovation through technology, improved operations and engaged customers. With the right technology you are able to coordinate actions, gather and analyze data and distribute information. By gathering customer feedback and monitoring trouble areas, you can improve your company’s operations to deliver a more positive customer experience. Engaging customers in an ongoing dialogue allows you to gather input, build customer loyalty and increase positive word of mouth. We’ve seen many companies successfully engage their customers to improve product and service experience and drive profitable growth.

The Net Promoter Operating Model is the result of extensive research examining the challenges and successes of hundreds of companies. Executing this model requires a commitment and investment in people, processes and technology. It also requires time. It’s not practical to think you can transform you business over night. Many of the companies we examined have been at it for years. The key thing to understand is that the Operating Model will provide a framework for your Net Promoter program and focus your efforts on building a customer centric enterprise. Implementing the model’s six components will help drive transformation across your organization to deliver a better customer experience, increasing loyalty and ultimately driving growth.

FEATURED ARTICLE

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Marketers’ Top 10 Wish List for Agencies of the Future

The Agency of the Future Survey is a national survey designed to provide insight into what marketers want from their agencies in the next 12 months. Sponsored by Sapient, the survey was conducted via email and polled more than 200 respondents, all of whom are either directly or indirectly responsible for managing digital marketing budget allocation across multiple channels.

Greater knowledge of the digital space is at the top of marketers’ list of what they want from their advertising and marketing agencies in the next 12 months, according to a Sapient-sponsored national online survey of some 200 CMOs and other senior marketers.

As it is, more than a quarter of marketers surveyed said from half to all of their marketing is done via digital channels, and nearly 40% foresee that in 12 months from half to all their marketing will be done via digital channels:

The respondents, all of whom are either directly or indirectly responsible for managing digital marketing budget allocation across multiple channels, were asked about the top qualities they sought in their advertising and marketing agencies in the coming year.

Based on the survey results, Sapient Interactive, Sapient’s marketing services group, issued a Top 10 Wish List for Agencies of the Future:

1. Greater knowledge of the digital space. More than one-third of marketers surveyed said they are not confident that their current agency is well-positioned to take their brand through the unchartered waters of online digital marketing and interactive advertising.

Nearly half (45%) of the respondents have switched agencies (or plan to switch in the next 12 months) for one with greater digital knowledge or have hired an additional digital specialist to handle their interactive campaigns. Regarding an agency’s area of expertise, 79% of respondents rated “interactive/digital” functions as “important/very important.”

2. More use of “pull interactions”. Nine in 10 respondents (90%) agree that to engage consumers with their brand it is increasingly important that their agency uses “pull interactions” such as social media and online communities rather than traditional “push” campaigns.

3. Leverage virtual communities. An overwhelming 94% of respondents expressed interest in leveraging virtual communities (public and private) to understand more about their target audience.

4. Agency executives who use the technology they are recommending. 92% of respondents said it was “somewhat” or “very” important that agency employees use the technologies that they are recommending - such as Facebook, Flickr, wikis, blogs, - in their personal social media mix.

5. Chief Digital Officers make agencies more appealing. 43% of marketers surveyed said agencies with chief digital officers are more appealing than those without.

6. Web 2.0 and social media savvy. 63% of marketers surveyed said an agency’s Web 2.0 and social media capabilities are “important/very important” when it comes to agency selection.

7. Agencies that understand consumer behavior. 76% of respondents deemed this as an “important/very important” aspect of their agency’s online digital marketing and interactive advertising area of expertise.

8. Demonstrate strategic thinking. 77% of marketers surveyed ranked strategy/brain trust capabilities at the top of their agency wish list.

9. Branding and creative capabilities. 67% of respondents ranked branding at the top of their agency wish list while 76% ranked creative capabilities as “important/very important.”

10. Ability to measure success. 65% ranked analytics at the top of their agency wish list.

“Marketers want agencies that can deliver on these demands today - not by 2009 and beyond,” said Gaston Legorburu, chief creative officer, Sapient. “As the interactive channel becomes increasingly important, only those agencies that can create, manage and measure multi-channel campaigns will stay relevant and thrive in an uncertain economy.”

FEATURED ARTICLE

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Work Smarter: Delivering Better Results by Investing in Marketing Performance Capabilities

By Naveen Donthu, Naras Eechambadi, Rajendra K. Srivastava, and Greg Thomas for Marketing Management.

Marketing is challenged. We find the world is growing smaller, technologies are transforming industries, information is more accessible and abundant, and consumer power is rising as social networks make new connections possible. However daunting these exogenous influences may be, they also might be the least of the challenges marketing faces. Marketing’s greatest challenge, its Everest to climb, consists of redefining its role, scope and influence within the organization— which previously has been too narrow in practice. A wider scope will allow marketing management to develop capabilities that help with better decision making and better control of the customer experience.

To best cope with the external changes, marketing needs to change from a mere execution service to a more robust function that invests in resources and capabilities. The aforementioned dynamic external environment has made it necessary for many marketing departments to reorganize themselves and their processes, and hire new kinds of people with a different set of talents to meet the challenge of operating in these complex new environments.

Marketers have had to invest a great deal more in technology, including in data warehouses to house large quantities of transactional information about customers—collected across these marketing challenges. They also have developed sophisticated campaign management systems to communicate with customers across channels. Additionally, managers have invested marketing resource management tools to organize complex work flows and meet demands for increased transparency and compliance. They have also had to build dashboards and measure both the highly fragmented marketing spending and the returns on that spending with a great deal more discipline.

How can marketing executives justify this additional spending on building capabilities and infrastructure? Does it not add overhead and take away from spending against marketing programs? If the return on investment on marketing expenses can be challenging to measure, the justification on investment in building longer-term capabilities can be infinitely more difficult. It makes intuitive sense that investments in marketing capabilities can make marketing spending (i.e., the traditional marketing mix) more effective and efficient. But is it true? We researched this question by surveying senior marketing executives. Their answer was a resounding “yes!”

Our study was designed to separate out the impact of investment in marketing capabilities from the impact of spending on marketing programs. We surveyed a broad cross section of senior marketing executives across many industries and companies of varying sizes. Respondents included executives from Microsoft, Cisco, Wendy’s, Kodak, Intel, Royal Caribbean, Coke, HP, Fidelity Investments, Yahoo, TD Bank, Kroger and Harris Corporation—to name a few.

Read the full article (PDF) »

FEATURED ARTICLE

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Future Tense: The Global CMO
A report from the Economist Intelligence Unit sponsored by Google

The chief marketing officer (CMO), a title that barely existed 15 years ago, is under growing pressure to keep pace with rapidly changing digital media and globalisation. The rise of the Internet has changed the face of marketing from one to two-way communications with customers. The increasing adoption by business of interactive technologies, for example, wikis, blogs, mashups and other tools, has enabled consumers to interact with firms as never before, creating unprecedented opportunities for marketers at global companies. A new report from the Economist Intelligence Unit, Future tense: The global CMO, sponsored by Google, examines these issues and suggests that CMOs at global companies must recast marketing operations to meet these 21st-century objectives. Leading marketing executives must move beyond traditional advertising, marketing and brand awareness to a more transformative role, driving innovation across the entire business.

The CMO’s traditional dilemma of demonstrating effectiveness, return on marketing investment and relevance to the business persists. However, the democratisation of how information is consumed, produced and disseminated is forcing the global CMO to adopt a broader role in engaging all corporate stakeholders, from their traditional audience of customers and prospects to investors, employees, government regulators and others. This often entails remaking operations into integrated marketing and communications organisations that work collaboratively across the enterprise to gather, develop and use customer intelligence while blending talent with a nuanced understanding of their business. Successful CMOs must not only evolve the marketing function into an integrated, strategic component of the business—rather than simply a cost centre—but are also draw on long-practised but previously separate disciplines of PR and corporate communications to build integrated marketing and communications operations that encourage ongoing dialogue with customers and focus on long-term relationships.

Key best practices illuminated by this study include the following:

  • Balancing global brand awareness with local market relevance. Centralising global marketing functions such as advertising development and production can create economies of scale and save money, but they must be guided by the needs of the local market and customer insights. At the same time, budgets must be freed up so that regional directors can make appropriate decisions based on market demands.
  • Integrating marketing with other forms of corporate communications. Both the interactive nature of Web 2.0 technologies and the transparency of corporate messages among different constituencies—such as customers, investors, media, regulatory bodies and employees (past, present and future)—demand the integration of various forms of marketing and communications. Businesses can no longer segment audiences and messages as if audiences don’t talk to each other.
  • Adopting new media. In particular, there should be a specific budget for experimentation with the newest Web 2.0 technologies. To remain competitive, companies must engage customers and fully exploit the interactive nature of digital media to create a stronger affinity with their brands among consumers and other stakeholders. The CMO should have the foresight to anticipate how different constituencies will respond to different events, messages and channels, and should be able to deal with the proliferation of new-media tools and expanded audiences.
  • Developing new skills, capabilities—and partnerships. CMOs must not only position their companies, but help define them. To do so, they need to understand the fundamental business model, brand, culture, policies and values of the organisation. Equally important in terms of adapting to the evolution of new media are partnerships with vendors whose expertise can be used to get new initiatives to market faster—and more effectively—than a company would on its own.
  • Championing innovation. The need for greater accountability for marketing expenditure is pushing global companies towards digital marketing campaigns with higher returns than traditional media. The interactive nature of the latest digital-media vehicles provides the opportunity to develop deeper insights into customer dynamics and allows the CMO to become the corporate champion of customer insight.

Download the full complimentary report (PDF) »

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