Disruption and rapid change are the new normal for marketing. Platform providers such as Amazon and Apple change the equation for reaching and engaging customers while disruptions such as machine learning and virtual assistants add enormous complexity to delivering the brand promise. CMOs are often the executive responsible for leading digital transformation amidst this backdrop of disruption and change where agility, speed and execution are the currency of success.
CMOs simply can’t do it all. To deliver on their increased responsibilities, CMOs need to create a compelling vision for the future of marketing in a digital world. The vision needs to be built on a foundation of urgency, opportunity and data. Elizabeth Shaw,Gartner for Marketersresearch director, discussed strategies for CMOs to lead their organizations in the age of disruption during the2017 Gartner Digital Marketing Conference. “Define what digital transformation looks like for your organization and develop a narrative that acts as a north star,” said Ms. Shaw.
To be effective change agents during times of rapid change, CMOs need to start with their vision. Too often a brand’s marketing future is immortalized in a glossy, or crumpled, vision statement gathering dust on a conference room wall. CMOs needs to evangelize, activate and mobilize the vision. In short, CMOs need to walk the talk.
Start by looking at the world around you. Use the STEEP acronym to first understand the context within which the vision will be created.
Social – What social trends are at play?
Technology – How is Technology changing the marketplace?
Economic –What economic changes are likely to impact future opportunities?
Environmental –What environmental considerations need to be considered?
Political –How will the political climate impact a brand’s room to maneuver?
Visions are not “set-it-and-forget-it” exercises. They need to be updated and alive. Answering these questions will help marketing leaders address the common pitfalls of change initiatives such as identifying what has to be done now as opposed to what can be started now that will deliver an outcome later along with the consequences of doing nothing. Many transformation efforts fail because leaders create a vision that’s too lofty and cast too far in the future.
