CMO.com Highlights – The Evolving Market Drives the CMO to CEO Journey
Marketers know that the world of consumers is continually evolving with new technologies ever leading the charge. Last week’s exclusive content on CMO.com touched on several of the challenges marketers face in this evolving market. From the role and purpose of advertising campaigns to the insights to be gained from other markets to the way advertising is used in digital TV, last week’s exclusives provided many actionable insights for brands to better reach their target audience. Additionally, last week’s interview touched on the CMO to CEO journey, which is sure to be an essential read for many marketers who dream of being at the helm of a corporation.
Drew Nicholson, CEO of OgilvyOne Business, began the week responding to a previous CMO.com piece by Rod Banner, entitled, “Brace Yourself for the Ad-Pocalypse.” Banner’s article predicted the end of modern advertising and relied heavily on the idea that people engage with what interests them. Nicholson agrees that revolution is inevitable when it comes to advertising. As a part of this revolution, social media and content marketing are becoming a much more vital component to getting in front of consumers. The reason is that people seek recommendations from people they know as a significant determining factor in their buying behaviours.
Last week’s CMO.com interview was with Martin Glenn, CEO of The Football Association in England. Glenn has a long track record of management and marketing experience. The discussion touched on Glenn’s journey from working in marketing to becoming a CEO. Glenn encourages marketers who want to make this journey to learn the language of the boardroom. He also believes that marketers need to make their presence known in the most important areas of their organisation. For Glenn, it’s important that the people in an organisation work coherently together instead of being isolated in silos.
Doreen Wang, Global Head of BrandZ Millward Brown, outlines some insights European brands can learn from brands in Latin America. The crux of these insights focuses on the opportunities brands have used to build closer connections with consumers during economic downturns. She gives several examples, such as the Brazilian beer company Skol, which is Latin America’s most valuable brand this year. Brands can also build closer connections by positioning themselves to give consumers a brand with a local feel.
Anders Schäffner, Digital Consultant at Nordisk Film TV, discussed the changes TV advertising will have to undergo to continue to be a viable branding channel. Schaffner encourages advertisers to move from traditional ad-funded programming to something much more native to the digital TV format. Today’s advertiser funded programming (AFP) involves creating TV programs that have a brand so ingrained in the program that program depends on the brand to exist and yet the brand itself doesn’t take away from the integrity and quality of the program. He gave examples of successful AFP as well as outlined the value this approach generates to a brand.
Closing out the week, Monica Savut, Senior Research Manager of Econsultancy, shared some of the challenges marketers see in transitioning to multichannel marketing. She shared that most companies are neglecting an integrated approach to their marketing campaigns. Some of the factors that have held marketers back from such an approach are effective data management, a 360° view of the customer, and the incapability to fully analyse the customer journey. Savut gives plenty of information on how to face these challenges head-on, but the most valuable insight she provides is the reality that consumers live in a multichannel world. This, of course, means marketing must change to meet consumer expectations.
We invite you to take some time this week to read and engage with our exclusive content on CMO.com. Please let us know what you think.