Integr Marketing Comm White Paper 5

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    Integr Marketing Comm White Paper 5 - Presentation Transcript

    1. Integrated Marketing Communications (IMC): It Is Not Just Marketing Services Anymore There was a time when companies had secreted away in their annexes marketing services organizations that essentially acted as a go-between with the creative brain trusts at "The Advertising Agency." The agency was a one- stop shop for just about everything—especially advertising and media buying. Of course, time changes everything and so does the Internet. The rise of the Internet created new metrics and led to greater accountability in marketing. Companies could directly interact with a greater number of their individual, end-user consumers and evaluate marketing strategy in terms of the number of eyeballs, clicks or footsteps that search marketing delivered. Now, most companies realize that it is also critical to a business’ success to gather information from these interactions to not only measure behavioral change but also increase profitability. The majority of consumer packaged goods (CPG) companies have traditionally focused solely on their customers. Now, traditional companies are also collaborating with online giants, such as Google and Yahoo!, as well as other media and direct marketing agencies to increase their market share. All of these changes reflect the resurgence of the consumer as the arbiter of media choices. Many companies are trying to put their arms around the ever-evolving marketing services dynamic. They seek to unify efforts across geographies and business units. As it becomes more apparent that marketing excellence needs to be strengthened, companies are implementing new strategies to continue to push the evolution of a fully integrated marketing approach. Historical Perspective For decades, CPG companies have been masterful at understanding the customer (buyer) and consumer (end user). They are strategic, analytical, brand oriented and consumer centric. CPG companies excel at training executive marketing talent and have produced many of the most successful marketing and business leaders in the industry today. Procter & Gamble, M&M/Mars, Kraft and PepsiCo are just a few notable examples of traditional CPG strategic marketing “academies”—companies for which marketing represents a core competency and competitive advantage. Such companies are implementing four major strategies: Transform the portfolio: Accelerating the shift in the product portfolio to better align with key customer and consumer trends and the top-grossing sales channels and demographic groups Expand global scale: Increasing business internationally, especially in the fastest-growing developing countries around the world RUSSELL REYNOLDS ASSOCIATES
    2. Drive out costs: Creating a leaner cost structure and making better use of assets to generate savings to reinvest in brand building Strengthen employee and organizational excellence: Developing organizational capability and supporting employees in meeting business challenges around the world As a result of these strategies, a new role is emerging: the global integrated marketing communications (IMC) leader. Redefining the Role As a rule, the global IMC leader reports to the chief marketing officer (CMO) and is responsible for strategic, forward- looking integrated marketing communications strategies and programs. In an environment with a great deal of marketing sophistication, an IMC leader must raise the functional excellence of key areas of the marketing mix in order to further drive brand performance. He or she provides strategic leadership for advertising, packaging, consumer promotions, marketing and media, and public relations activities. A key responsibility is elevating these organizations and their contributions on a global basis. This role ensures strong alignment to other cross-company customer/consumer communications initiatives. The global IMC leader plays both a strategic and a hands-on role in the company’s marketing efforts. This person provides leadership, guidance and support to his or her direct reports. This individual is responsible for working with agencies and with others across the organization globally in order to leverage and maximize efforts of the brand portfolio as a whole. The role works closely with executives from across business units to assist in conceiving, developing, evaluating and deploying programs so that each of the brand's respective strategic goals and objectives is supported. Specifically, a Global IMC Leader Will: I Provide strategic direction for the development of annual marketing communications plans and long-range strategic business objectives I Identify, evaluate and publicize new “next generation” ideas to advance consumer communications I Interpret and disseminate corporate policy on advertising, consumer promotions and packaging and ensure adherence to corporate policy and legal compliance I Manage the marketing training function to raise marketing skills of marketers worldwide I Oversee the packaging function, including development and evaluation of new packaging technologies/ techniques designed to improve packaging quality and efficiency I Lead agency relations, including optimizing the creative process and relationships to ensure continued satisfaction, efficiencies and direction for creative reviews and annual agency evaluations III 2
    3. Experience and Core Competencies A typical career path for this role would begin in a classic CPG company and then transition successfully to a consumer services business. The ideal candidate will have experience in packaged goods, consumer marketing, consumer services and advertising. This person must be comfortable performing in a changing environment. Generally, this person will have 15 or more years of relevant experience with a college degree and, preferably, an M.B.A. Compensation Base salaries for these roles range from $225,000 to $325,000 plus a performance bonus and long-term incentive plan for a total compensation package of $500,000 to $750,000. The successful candidate will demonstrate the following competencies: Vision and Purpose He or she must see beyond today in order to help with leading-edge thinking and next-generation ideas. In addition to developing a clear, compelling vision of where he or she wants to take the organization, the successful candidate will communicate it in bold, persuasive terms to all stakeholders. At the same time, he or she will use best-in-class benchmarks and previous experience as catalysts for driving change, again creating the urgency for change and communicating it throughout the organization in a positive way. Influencing and Relationship-Building Skills This person possesses a high degree of confidence and has balanced, well-honed listening skills. He or she must be comfortable with the challenges of reaching agreement among occasionally conflicting interests and must be able to interact effectively across the functions and business of the company. He or she shows the ability to both learn from colleagues and add value to their thinking. This person needs to demonstrate the ability to be quickly recognized as a key partner. While the position has a high level of responsibility in defining strategy and developing and deploying programs, the support of key constituencies within the company is critical to success. The individual must, therefore, have excellent skills in influencing, shaping and driving dialogue by building buy-in across the organization on topics relevant to the consumer, the market and the business strategy. Business Acumen He or she must be a practical, hands-on marketing and general management executive who not only can demonstrate creativity and market innovation, but also has a proven track record of excellence of driving results, executing plans and delivering within budgets to both the business top and bottom line. He or she brings a balanced marketing, strategic and operational background and develops his or her credibility by not only packaging ideas well but also demonstrating practicality and building the support of key groups. Cultural Acuity and Organizational Savvy As a potential successor to the CMO, the global IMC leader must quickly recognize the nuances in the company’s culture prior to embarking on major changes. Additionally, this person will have experience working across various geographies and adapting to different cultures in global assignments. As a seasoned leader, this person evaluates, recruits, develops and retains a motivated marketing team. III 3
    4. Change Management Expertise This person must have the ability to lead change through large, complex organizations due to the rapid evolution of the business and the changing needs of the clients. Integrated Communications/Media Expert This individual must be a recognized authority in the world of marketing and media communications. He or she must have managed the execution of large, fully integrated, multi-platform programs across both traditional and emerging media. He or she must be well known to the media community as accomplished, respected and tough yet fair. Ideally, the successful candidate will be grounded in traditional media planning and buying while also having significant experience across all facets of integrated marketing communications. Marketing Officers Practice | Global Team Bradford McLane [Chicago] Practice Leader Courtney Hagen [New York] Margot McShane [San Francisco] +1-312-993-9696 +1-212-351-2000 +1-415-352-3300 bmclane@russellreynolds.com chagen@russellreynolds.com mmcshane@russellreynolds.com Anthony Armstrong [Sydney] Christine Hauff [Frankfurt] David Selby [Chicago] +61-2-9258-3100 +49-69-75-60-90-0 +1-312-993-9696 aarmstrong@russellreynolds.com chauff@russellreynolds.com dselby@russellreynolds.com James Carpenter [New York] Andrew Hayes [Houston] Robyn Harrell Soto [New York] +1-212-351-2000 +1-713-754-5995 +1-212-351-2000 jcarpenter@russellreynolds.com andrewhayes@russellreynolds.com rsoto@russellreynolds.com Florence Ferraton [Paris] Jim Hinds [London] Melanie Steinbach [Chicago] +33-1-49-26-13-00 +44-20-7839-7788 +1-312-993-9696 fferraton@russellreynolds.com jhinds@russellreynolds.com msteinbach@russellreynolds.com About Russell Reynolds Associates Russell Reynolds Associates is the most trusted name in global executive search and assessment. Through our 37 wholly owned offices, the firm’s more than 275 professionals conduct senior-level search and assessment assignments in a range of industries for public and private organizations of all sizes. With its one-firm culture, deep knowledge of major industries and unwavering commitment to client service, Russell Reynolds Associates is uniquely qualified to help clients find the best leaders and to advise them on optimizing their talent. The firm’s Web site is www.russellreynolds.com. © 2007 Russell Reynolds Associates, Inc. III 4
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