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Korn Ferry CMO Center of Excellence: Capabilities that earn right to win for Marketers

Korn Ferry CMO Center of Excellence: Capabilities that earn right to win for Marketers

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  • 1. A Marketing Identity CheckDIFFERENTIATED CAPABILITIES EARN THE“RIGHT TO WIN” CMO Center of Excellence
  • 2. CMO Center of Excellence
  • 3. FACT DRIVEN INSIGHTS KEY AREAS OF FOCUSTHE RESEARCH Evaluating the impact of market 1 trendson the role and operating Quantitativesurvey model for marketing of 350senior marketing professionals from Identifying key marketing Fortune 500 companies 2 capabilitiesrequired to establish the “right to win” Qualitativeinput from industry leading Exploring challenges around CMO’s 3 capability buildingandtalent management CMO Center of Excellence
  • 4. AGENDA Marketing’s metamorphosis Not all capabilities are created equal Fostering the right talent Setting the right tone Getting started CMO Center of Excellence
  • 5. Marketing’s metamorphosis Not all capabilities are created equal Fostering the right talent Setting the right tone Getting startedCMO Center of Excellence
  • 6. WHAT IS BECOMING MORE IMPORTANT FOR THE MARKETING FUNCTION Leads company-wide marketing 61% efforts Develops brands products and new 51% business Provides marketing services 50% Alldelivery Drives organization change 44% components areResponsible for top and bottom line becoming increasingly 44% performance important Primary strategy advisor to CEO 43% and/or individual business units Improves effectiveness and 41% efficiency of business units Sets growth targets 26%Source : 2011 Marketer Survey by ANA, KornFerry International & Booz & Company CMO Center of Excellence
  • 7. WHAT ARE THE TOP CHALLENGES THAT YOU FACE IN YOUR FUNCTION Economic pressures 61 Increasingly competitive 58 business landscape Deliver top line Measuring return on ORGANIC growth with 56 marketing investments • FEWER RESOURCES Lack of marketing headcount 52 • LOWER BUDGET Pace of change 50 • HARSHER ECONOMIC ENVIRONMENT Lack of budget 47Source : Aberdeen Group, September 2010 CMO Center of Excellence
  • 8. THE NEW MARKETING More COLLABORATIVEMore STRATEGIC Requiring a HIGHER More INTEGRATIVE ORDER of skills and competencies More ACCOUNTABLE CMO Center of Excellence
  • 9. Marketing’s metamorphosis Not all capabilities are created equal Fostering the right talent Setting the right tone Getting startedCMO Center of Excellence
  • 10. WHAT ARE THE MOST IMPORTANT CAPABILITIES Digital Marketing 72% Multiple & diverse set of skills Marketing Effectiveness 60% required – are we focusing enough Channel Innovation 60% on the most important ones Multi-media campaigns 58% Lead Management 57% Portfolio Management 50% All 8 9% Customer insights 40% 7 or more 19%Developing "owned" digital assets 42% 6 or more 33% 5 or more 50% 4 or more 66% 3 or more 77% 2 or more 89% CMO Center of Excellence
  • 11. BUT BUILDING CAPABILITIES IS NOT SO STRAIGHT FORWARDIn the context of SCARCITY….. …..LESS is MORE CEO buy in 22% RIGHT TO WIN capabilities Perception of marketing 23% across the organization Organizational culture 35% RIGHT TO COMPETE Technology with the right capabilities 36% systems Talent with the right skills 42% RIGHT TO PLAY Funding 44% capabilities CMO Center of Excellence
  • 12. Marketing’s metamorphosis Not all capabilities are created equal Fostering the right talent Setting the right tone Getting startedCMO Center of Excellence
  • 13. HOW MARKETERS PLAN TO BOOST PERFORMANCE Developing capabilities in- house 75% Building capabilities from withinOutsourcing new capabilities 58% Scramble and struggle to Strategic partnerships 54% find the right balance between specialists and Centre of Excellence 49% integrators Leveraging networks 31% CMO Center of Excellence
  • 14. HOW MARKETERS PLAN TO BOOST PERFORMANCE Talent Management routed in 3 dimensions • COMPENTENCIES • COMPENSATION • CARREER DEVELOPMENT CMO Center of Excellence
  • 15. Marketing’s metamorphosis Not all capabilities are created equal Fostering the right talent Setting the right tone Getting startedCMO Center of Excellence
  • 16. UNDERSTANDING THE POWER OF CAPABILITIES AND TALENT CMO Center of Excellence
  • 17. HOWEVER, NOT ALL MARKETING LEADERS ARE THE SAME LEADERSHIP PROBLEM SOVING EMOTIONAL TASK INTELLECTUAL ACTION COMPLEX CREATIVE TOLERANT OF HUMILITY / SOCIAL CONFIDENCE ORIENTATED EXPERTISE DECISIVE ANALYTIC EXPLORATORY AMBIGUITY ADAPTIVE1.5 10.5 0-0.5 -1-1.5 Difference between top 20% andbottom 20% Note: Based on behavioral profiles of thousands of marketing leaders Performance of marketing leaders (top 20% and bottom 20%) is based on compensation Source: Korn / Ferry International behavioral profiler CMO Center of Excellence
  • 18. WINNING MARKETING EXECUTIVES Decision making Social and that combines Participative creativity with Leadership Style decisiveness Emotional maturity – comfortable with change CMO Center of Excellence
  • 19. Marketing’s metamorphosis Not all capabilities are created equal Fostering the right talent Setting the right tone Getting startedCMO Center of Excellence
  • 20. WHAT DID WE LEARN FROM BEST IN CLASS ? CMO Center of Excellence
  • 21. WHAT DID WE LEARN FROM BEST IN CLASS ? Agility Emotional maturity comforta ble with change Inclusiven ess Creative thinking CMO Center of Excellence and

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