Emerging digital media—from social networks to mobile advertising—have brought us to a breakpoint in marketing communications. Marketers are no longer crafting only one-way brand messaging but also curating interactive conversations with consumers online. In this context, chief marketing officers realize that 50 years of marketing-management approaches must dramatically change. A new BCG study explores how companies are tackling the new marketing realities. There is no single organizational model, but patterns suggest how companies could strengthen their digital capabilities.