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Why some CMOs are better than others in adapting to the digital age?
The summary of many discussions with some of the most successful marketing executives indicated that in order to achieve success against change and uncertainty in the digital revolution, the main thing is to be willing to part with obsolete practices. That does not mean to abandon the fundamentals of marketing. On the contrary, it should retain the best concepts, the time to fight the bad habits of complacency, conformity, the paralysis in the analysis, “hands off” management and closed circles of knowledge.
Instead, you must consider the following good habits:
1 - Experience
There is nothing worse than to become complacent and believe that what works today will work tomorrow. Flexible approaches must be adopted to experiment with organizational structure, emerging media and new technologies. This will prepare for the unexpected and stay ahead of the competition.
2 - Challenging the status quo
The traditional marketers do not stir the waters. The new must break the mold to become change agents, creating new brand experiences, encouraging innovative thinking and the use of new technologies.
3 - Act continuously
Do not miss opportunities by not daring to make decisions quickly. Agility is important in implementing technology-driven markets.
4 - Involve everyone at work
Traditional marketers live in a vertical world in command and control of organizations. Personal involvement is now required to adapt to new media and marketing innovations, as well as empower their teams to have a personal interest in shaping the brand.
Source: Advertising Age
More on this topic
November 2010
A Microsoft Advertising White Paper looks at changes in audience behavior regarding print and online media.
Advertisers must ensure the balance between print and online advertising reflects the changing role of public consumption habits, particularly the growing importance of online advertising in various stages of the purchase funnel.
May 2009
The first to go will be traditional marketing specialists, who speak only of the brand, buy non- measurable advertising and organize events that do not generate prospects.
These jobs only survived in good times, because the money was plentiful and it seemed not to matter that it was spent unnecessarily.
February 2010
Advertising online is not an option anymore but a necessity, and requires stricter planning than traditional advertising.
Every cent spent in an advertising budget must be carefully planned. These are though times, with fierce competition in all fields. Preparing successful advertising campaigns requires a lot of work, and actions in several fronts.
December 2010
Attracted by its effectiveness and how easy it is to measure the impact of advertising targeting markets, as well as its relative low cost, advertisers increasingly use digital media.
While traditional media continue to lead in advertising investment, in Guatemala the portion of the budget devoted to online media - websites, social media and mobile devices is growing, reaching about 10% of the total, noting that the country is following the trend of developed countries, where even the reign of television as the premier advertising medium is being challenged by the Internet.
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