What's Next: The CMO and the Opportunity of an Era
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Marketing has always been about evolution and innovation, but today marketers are experiencing the fastest rate of change ever – in channels, audiences, technologies and disruptive new competitors. It’s not a surprise that some marketers are getting nervous – not only about the future of their organisations, but of their very careers, too. They point to short tenures and a growing number of once-mighty brands that are suffering, or in extreme cases, dying. But there is also a growing body of modern CMOs who have become closely attuned to where business and marketing are going, and they are taking steps to recast the very definition of the CMO role. They’re building new skills and capabilities forging new alliances, and assuming leadership in areas they previously avoided. They are setting the broader transformation agendas for their departments, their companies and for their own careers.
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What's Next: The CMO and the Opportunity of an Era
- 1. Powered by What’s Next: The CMO and the Opportunity of an Era
- 2. Welcome Paul English Global Consulting Principal, Ogilvy Consulting Dayoán Daumont Consulting Partner, Ogilvy Consulting Iain McCrossan Consulting Partner, Ogilvy Consulting
- 3. Tell us where you are dialling in from! What type of transformation are you in?
- 4. Do you want a copy of this webinar? It will be available on facebook.com/ OgilvyConsulting
- 7. What exactly does Marketing Transformation mean to my organisation? How do I define the operating model that will make it work? How should we redesign the tech stack? What are the change management implications? How do I convince my board to invest in transformation? What is the roadmap? How do I prioritise it? Where do I get started? How do I integrate with Sales and Service? Ogilvy Consulting Areanyof thesefamiliar questions? What should I expect in terms of ROI and other benefits? How do I make the idea of transformation less intimidating, both for my stakeholders and myself? How do I assess our current state and readiness for change? How do I move from Campaigns to Content and Experiences? How can I align key stakeholders around a transformation vision? How do I improve the Customer Experience?
- 10. Ogilvy Consulting …itisfasterthan everbeforeand hyperpersonal… TELEPHONE 75 Years RADIO 38 Years TELEVISION 13 Years MOBILE 12 Years INTERNET 4 Years FACEBOOK 2 Years INSTAGRAM 19 Months YOUTUBE 10 Months TWITTER 9 Months ANGRY BIRDS 35 Days POKEMON GO 19 Days FORTNITE 4 Months Time to reach 50 Million users
- 11. Ogilvy Consulting The CFO demands more performance accountability for emerging and disparate digital activities that lack measurement methodologies. … across the entire organisation The CIO impacts core marketing decisions such as the Marketing Technology stack. Lines of business seek innovation and consumer- centric products and propositions. The Sales organisation n e e d s d i r e c t - t o - consumer models and customer insight. Service becomes inseparable from marketing with the adoption of digital and omni-channel experiences. HR realises the benefit of having engaged employees advocating for the brand on multiple channels.
- 13. Ogilvy Consulting Accountabilityfor business performance Ogilvy Consulting Our consumers are the ones driving the need for transformation across all touchpoints. They expect seamless, tailored engagements at every level and on every channel, not just marketing. “ “ CMO, Global FMCG Brand
- 14. Ogilvy Consulting Whilemarketing budgetsarebeingcut orfrozen Ogilvy ConsultingOgilvy Consulting 11Ogilvy Consulting 2
- 15. Ogilvy Consulting 3 Keepingupwiththe speedoftechnology evolution Ogilvy Consulting 40% 9% Up to 40% of CMO budget has moved from communications to Martech and Adtech Companies have a complete, fully utilized tech stack Source: Marketing Technology Strategy Report, Ascend2 Source: Gartner
- 16. Ogilvy ConsultingOgilvy Consulting Theroleofchange agentislargelynew Ogilvy Consulting One challenge is that the CMOs ascent to their lofty technology role has been swift and consumer behaviours are changing at an unprecedented rate. “ “ CMO Travel & Hospitality Brand
- 17. Ogilvy ConsultingOgilvy Consulting Capability,talent andculture CMO Automotive Brand “ “ We are evaluating our capabilities and rethinking them from the outside-in. This involves training in digital and hiring hybrid talent.
- 19. Ogilvy Consulting Telecommunications Delivering personalised content at scale, fuelled by 1st, 2nd & 3rd party data; powered by AI and ML and the upcoming 5G tsunami. FinTech Articulating a brand purpose and narrative to galvanise performance marketing and CX activities, building trust and visibility. Retail Marketing more accountable for Sales, shifting from physical to digital selling, orchestrating end- to-end, omni-channel CDJs. Consumer Goods ‘SKU management’ in a new go- to-market context & defining new ecommerce Direct-to- Consumer Models. B2B Data-driven, personalised and strategic ABM and Content Marketing recognising the networked Decision-Making Unit. Travel & Hospitality Immersive, innovative and emotionally engaging personal experiences across the Consumer Decision Journey (CDJ).
- 21. Ogilvy Consulting Whatmakesadifference? 1. Meaningful Difference 2. Disruption 3. Experience Drivers of Top 20 ‘Risers’
- 24. Ogilvy Consulting Brand & Customer Strategy & Vision Proposition Culture & Behaviours Organisation Experience & Communications Systems & Data Grounding your Marketing Transformation in customer centricity and aligning to the organisation’s brand purpose and promise. Creating a differentiated brand and customer experience that is customer-centric and architected for future growth. Buying into a common transformational purpose and alignment of stakeholders to deliver against prioritised plans. Identifying Marketing Transformation as a priority and all levels of the business embody a collaborative mind-set and take shared responsibility to drive change across the organisation. Constructing a data driven and technology enabled business model with common brand and customer performance metrics. Building a marketing organisation (People & Process) that is optimised to meet brand and customer expectations, and is driven by a coordinated Marketing Transformation strategy. Designing an integrated omni-channel ecosystem that supports customer personalisation at scale, drives meaningful customer engagement, and utilises optimised technology stacks.
- 25. Ogilvy Consulting »In initiating a Marketing Transformation programme, many CMOs are often presented with false choices
- 26. Ogilvy Consulting 1. Silo or integration? 2. In-house or Outsourced Capability? 3. Centralise or Localise? 4. Top Down or Bottom Up? 5. Build or Partner or Buy?
- 27. Ogilvy Consulting What to do and how to get started
- 28. Ogilvy Consulting COMPLEXITY Depth and Quality of Brand and Customer Experien ce BRANDANDBUSINESSVALUE MATURITY Laggard Nascent Emerging Connected Transformed • WTF is Transformation? • Fragmented or incoherent initiatives, no vision/strategy • Technology an ‘IT matter’ instead of an enabler, • Data yet to inform decisions • Brand relevance and perception typically low or at risk in category - Marketing Transformation identified as a priority - Vision and future state in place. - CMO rallying distributed stakeholder group but no direct ownership - Recognition that brand and CX is a source of business growth - Tech and data identified as enablers - CMO has direct mandate for Marketing Transformation - Brand and CX strategy aligned, leading to customer-centric propositions - Omni-channel principles adopted and are impacting organisational culture - Data and tech are enabling business decision making and personalised campaign planning - Marketing Transformation principles adopted enterprise-wide - CMO responsible for optimised partner and tech ecosystem, - Capability gaps are being filled throughout the business. - Omni-channel and customer- centricity firmly established, - Customers engaged with relevant brand experiences at scale - Measurable business results Exalted state of perpetual Transformation Future state tech stack in place and operational Capabilities gaps closed Functioning governance model Highly orchestrated, personalised customer and brand experiences are delivered at scale Brand is architected for future growth and is category/market leading Company culture has embraced transformation with heads, hearts and hands
- 29. Ogilvy Consulting 01 02 04 03 05 06 Understanding Marketing Transformation Maturity Take stock of where you are The Critical Narrative Without alignment it will falter Setting the Future Vision State Define best possible outcome Prioritising Initiatives & Roadmaps What to do and where to start Measure & Optimise If you can’t measure it, you can’t improve it Business Cases Support the case for change 07 Implementation Execute and enable the transformation
- 30. Ogilvy Consulting Where are you on the journey?
- 31. Welcome Paul English Global Consulting Principal, Ogilvy Consulting paul.english@ogilvy,com Dayoán Daumont Consulting Partner, Ogilvy Consulting dayoan.daumont@ogilvy.com Iain McCrossan Consulting Partner, Ogilvy Consulting iain.mccrossan@ogilvy.com Questions? Downloadafullcopyofthepaperfrom ogilvyconsulting.com/our-thinking