The CMO’s transformation challenge – Part 2

Part two of the three-part series on the challenge to transform marketing for business growth
by Darren ‘Daz’ McColl, Marketing & Strategy Consultant – TARGAN CONSULTING

Delivering Marketing Transformation

Marketing Transformation -  The design and optimization of marketing systems to deliver profitable growth.

Given the always active and dynamic nature of marketing there are a number of areas CMO’s can lead new impact. Some of them are:

·       The systematic re-engineering of marketing tools, methods and approaches

·       New marketing organizational constructs and operational capabilities

·       Redesigning consumer and customer experiences for brand engagement

·       The redevelopment of loyalty and retention programs

·       The evolved management and application of data across systems

To achieve such transformation, no one dimension of marketing will suffice. Integration of data won’t deliver, nor will operational efficiencies through technology, and equally ineffective is singular experience innovation or enhancement.

“CMOs recognize that in order to be truly effective, storytelling must be transformed into a proactive content creation and marketing engine that is embraced as a vital business competency.“”

— FORBES

To achieve effective Marketing Transformation, the entire Marketing System must be redesigned and perpetually optimized.  And in this instance I’m not suggesting just technology, but the end to end system for marketing from organizational role and approach to customer value (and its measurement).

Recent research and analysis of CMO’s, marketing consultancies and research houses illustrates that the transformation of marketing to the modern aspiration is driven through three primary dimensions of modern marketing. This doesn't negate the value or importance of other marketing dimensions like; price, value and offer management, or the inherent value of brands it’s a focus of “Marketing Transformation” where systematic changes are most impactful.

The primary areas of focus and impact are:

1.      CONTENT & COMMUNICATION

2.     PERFORMANCE MARKETING

3.     EXPERIENCE & ENGAGEMENT

The dimensions or focus areas should be seen as integrated characteristics of marketing and not necessarily teams or vendor services. And, each is fundamentally and critically enabled by technology, data systems and organizational capabilities. Without the application and evolution of these ‘enablers’ as applied to the focus areas, there is no transformation.

Each of these focus areas for marketing transformation (further detailed below) can derive a “transformative step” along the transformation agenda. Collectively they achieve progressive marketing transformation over time when enabled through the strategic application of technology and data. And internally supported by organizational change as needed.

A journey of systematic leaps

As Marketing doesn’t stop, I believe that transformation is best delivered through a series of ‘systematic leaps’. Each leap is a significant change in how a business operates that has meaningful impact on growth and measurable business value. It’s more than improvement, requires planning, investment and organizational adaption. Inherently with any ‘leap’ there is some risk, but as business and consumer expectations are moving in a fast and fluid fashion, the greater risk is to not leap when you have a chance.

These leaps may be developed from one or more focus area at any one time. They are also in context of marketing organizational change and impact, either organically or strategically. Over time these leaps are defined and prioritized for greater business value.

Next: Part 3 - What it takes to transform - Capabilities, Structure, Mindset