The Future of Marketing - 5 Keys to a Successful Transformation

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Today, when bad news travels at the speed of a tweet, proper brand positioning is not just about consistency of message, it’s a matter of survival. But marketing also has a bigger role
to play: providing the glue that binds the company together around the brand promise.

Here are five ways to do it.

1) Represent the Voice of the Market
2) Synchronize the Customer Experience Across All Channels
3) Be the Brand Steward
4) Capitalize on Insights
5) Be an Integrator and Force Multiplier Across the Company

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The Future of Marketing - 5 Keys to a Successful Transformation

  1. 1. NO. 57E-Book SAP Center for Business Insight |Brief |Q&A |Case Study |Inquiry |E-Book The Future of Marketing: Keys to a Successful Transformation
  2. 2. The Future of Marketing: 5 Keys to a Successful Transformation2 NO. 57©2014 SAP AG or an SAP affiliate company.All rights reserved. Today, when bad news travels at the speed of a tweet, proper brand positioning is not just about consistency of message, it’s a matter of survival. But marketing also has a bigger role to play: providing the glue that binds the company together around the brand promise. Here are five ways to do it. Marketing Must Become the Glue That Holds the Company Together Around a Brand Promise
  3. 3. The Future of Marketing: 5 Keys to a Successful Transformation3 NO. 57©2014 SAP AG or an SAP affiliate company.All rights reserved. Read more in Marketing’s New Mandate: 5 Core Principles for Driving Business Value • Build a dedicated market insights team At Gap, global CMO Seth Farbman has built a trends and insights team that is charged with helping Gap stay culturally relevant in an industry where styles change in the blink of an eye. • Match product names with what customers seek A few years ago, SAP’s analytics products were called“business user solutions.”Then our search team found that analytics was more relevant and trending upward. So we changed the name to“business analytics.” More awareness (and sales) followed. • Use market understanding as a cultural catalyst By developing a more complete understanding of the market, CMOs can position marketing as the cultural catalyst that uses market insight to keep the organization from getting stuck in the success of the present and prepare for the next big shift. Represent the Voice of the Market1 Marketers must capture the viewpoints of everyone who is not a customer: prospects, business partners, competitors, economists, trendsetters, and anyone else who influences their business. Here’s how to do it:
  4. 4. The Future of Marketing: 5 Keys to a Successful Transformation4 NO. 57©2014 SAP AG or an SAP affiliate company.All rights reserved. Customer experience channels, from the Web site to the call center to post-sales support, are usually developed and managed independently. Most are organized and rewarded to care only about the slice of the experience they’re directly involved with. Here’s how to change that: Source: Marketing’s New Mandate: 5 Core Principles for Driving Business Value and The Customer Experience Edge by Reza Soudagar, Vinay Iyer, and Volker G. Hildebrand (McGraw Hill, 2012) Synchronize the Customer Experience Across All Channels 2 • Counsel rather than manage If a sales team invites a group of executives to a corporate briefing center, marketing shouldn’t try to manage the briefing center, but it must counsel the sales team to help it understand the story it wants to tell and provide it with the right assets to help tell the story. • Define the experience before you design it Marketing can take this customer perspective to different channels, and the teams that own those channels, to create better experiences. • Calculate the cost of not acting “What is the cost of a single bad experience?”ask Reza Soudagar, Vinay Iyer, and Volker G. Hildebrand in their book The Customer Experience Edge.“Many companies jeopardize their customer relationships by not taking these types of costs into account.”The cost of doing nothing, they conclude, can be significant.
  5. 5. The Future of Marketing: 5 Keys to a Successful Transformation5 NO. 57©2014 SAP AG or an SAP affiliate company.All rights reserved. Marketers have an opportunity, using the same tools and channels as consumers, to create and amplify a consistent message, to help the positive experiences outweigh the negative ones.Some ways to do that include: Be the Brand Steward3 • Humanize the brand Brands are moving beyond simply monitoring social media, devoting more resources to actively engage with and respond to people talking about their brand or asking direct questions on social media platforms. For example, lawn-care brand Scotts Miracle-Gro has found social media to be an effective tool for making a stronger brand connection with its customers. • Educate customers Real content – content that is authentic, original, and thought-provoking – can help brands build credibility on the topics that are most important to their customers and, by extension, their business. This type of thought leadership includes everything from blog posts to white papers to videos to community forums and can have significant impact on customers’ buying decisions, especially in B2B industries. Source: Marketing’s New Mandate: 5 Core Principles for Driving Business Value and “How Scotts Uses Social Media for Maximum Customer Support,”Social Pros Podcast (April 2013).
  6. 6. The Future of Marketing: 5 Keys to a Successful Transformation6 NO. 57©2014 SAP AG or an SAP affiliate company.All rights reserved. Read more in Q&A: Marketing’s Customer Experience Mandate The data has become table stakes.The difference in the value we create for customers and the value we as marketers deliver to our businesses is tied to how well we derive insights from the facts. ” “ – Thomas Stewart, Chief Marketing and Knowledge Officer, Booz & Co. Capitalize on Insights4
  7. 7. The Future of Marketing: 5 Keys to a Successful Transformation7 NO. 57©2014 SAP AG or an SAP affiliate company.All rights reserved. Read more in Marketing’s New Mandate: 5 Core Principles for Driving Business Value LinkedIn’s marketing and product development teams are highly integrated and share customer experience insights to determine what to build, how to deliver it, and how to communicate the brand value. “[Marketing] is the connective tissue between our sales team and our product teams, with the voice of the customer at the center,” says Nick Besbeas, vice president of Marketing at LinkedIn. Be an Integrator and Force Multiplier Across the Company 5
  8. 8. The Future of Marketing: 5 Keys to a Successful Transformation8 NO. 57©2014 SAP AG or an SAP affiliate company.All rights reserved. There’s More The SAP Center for Business Insight is a program that supports the discovery and development of new research-based thinking to address the challenges of business and technology executives. To learn the three questions to ask before you make the transformation we’ve introduced here, download the in-depth report Marketing’s New Mandate: 5 Core Principles for Driving Business Value
  9. 9. © 2014 SAPAG or an SAP affiliate company.All rights reserved. No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP AG or an SAP affiliate company. SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG (or an SAP affiliate company) in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices. Some software products marketed by SAP AG and its distributors contain proprietary software components of other software vendors. National product specifications may vary. These materials are provided by SAP AG or an SAP affiliate company for informational purposes only, without representation or warranty of any kind, andSAPAGoritsaffiliatedcompaniesshallnotbeliableforerrorsoromissions with respect to the materials. The only warranties for SAP AG or SAP affiliate company products and services are those that are set forth in the express warranty statements accompanying such products and services, if any. Nothing herein should be construed as constituting an additional warranty. In particular, SAP AG or its affiliated companies have no obligation to pursue any course of business outlined in this document or any related presentation, or to develop or release any functionality mentioned therein.This document, or any related presentation,and SAPAG’s or its affiliated companies’strategy and possible future developments, products, and/or platform directions and functionality are all subject to change and may be changed by SAP AG or its affiliatedcompaniesatanytimeforanyreasonwithoutnotice.Theinformation in this document is not a commitment, promise, or legal obligation to deliver any material, code, or functionality. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differmateriallyfromexpectations.Readersarecautionednottoplaceundue reliance on these forward-looking statements, which speak only as of their dates,and they should not be relied upon in making purchasing decisions. SAP Center for Business Insight |Brief |Q&A |Case Study |Inquiry |E-Book

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