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Forrester: CMOs will need to reinvent roles as pandemic's impact endures - Marketing Dive

Forrester: CMOs will need to reinvent roles as pandemic's impact endures - Marketing Dive | The MarTech Alert | Scoop.it
  • Chief marketing officers next year will need to reinvent their roles at U.S. companies to make the consumer experience central to their operations, expanding beyond the management of advertising and promotional activities, Forrester Research said in a report emailed to Marketing Dive.
  • Economic challenges going into 2021 will expose the deficiencies of some marketing technology, systems and processes that were able to survive under stronger growth. CMOs can expect a year of reduced media budgets, fewer internal resources and less support from advertising partners like agencies and ad tech companies, according to Forrester.
  • To survive the tumultuous times ahead, CMOs will need to foster diversity and inclusion among their teams to reflect changes in the marketplace, upend their business models to prioritize consumer experiences and focus on retaining their most valuable customers. In addition, CMOs will need to be more engaged with their employees and show leadership by getting things done rather than delegating key priorities. This reinvention will help to create new opportunities for businesses coping with the disruptions of the pandemic.
CYDigital/marteq.ios insight:

The key: building the relationship with existing consumers. It's where the focus needs to be over the next 12-18 months.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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A Framework for Leaders Facing Difficult Decisions - HBR

A Framework for Leaders Facing Difficult Decisions - HBR | The MarTech Alert | Scoop.it
1. Clarify your current worldview.
Without judgment, only observation, ask yourself:

How do I want to be perceived as a leader? What do I want to stand for?
What do I think is the purpose of business in general? Is it to maximize shareholder value and, by extension, to improve communities by increasing collective wealth? Is it to improve communities and the world regardless of creating wealth? Some combination of the two? Something entirely different?
What do I think is the purpose of our business? Is it the same as my view of business at large or is there some nuance based on our size, location, or services?
What is my role within our business? What are my obligations, and to whom do I hold them?
What am I willing to sacrifice in service of a desired goal? What am I never willing to sacrifice?
2. Choose a recent major decision and evaluate it against the observations you just made.

3. Next, look at a decision you’ll have to make soon.

4. Develop a plan to communicate the decision.

5. Engage in rigorous self-reflection.
CYDigital/marteq.ios insight:

Worthwhile to click through for the whole article.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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