![]() Above all, we are privileged to have a new level of potential consumer understanding. ![]() We can do things we have never done before, faster than ever, and we can measure and understand more than ever about the effectiveness of our plans. This is a very exciting time to be a marketer. What is most exciting to you about the transition to the modern marketing model? Start somewhere and keep the team grounded in what is familiar, while showing them the path to what is new and what you expect of them in terms of capability development. No marketer, I hope, wants to “sit still,” but change or evolution toward the unknown can be daunting for teams that have operated with a certain model for a long time. What advice do you have for CMOs making the transition to modern marketing? Whether your team is best in its class or at the start of its journey, you have to stay sharp about data and technology. That will help us put the best teams in place and empower them to do their best work every day. As leaders, we must create the conditions for others to thrive and ensure that our teams are well selected, motivated, rewarded, and developed. If they are weak or not aligned with business strategy, the teams will burn resources in changing direction often. They provide partners, agencies, and internal cross-functional teams with the clarity they need to do their best, most differentiated work. Strategic direction and insights are the fuel the team needs. That said, there are three critical capabilities that I believe should transcend industry and be a focal point for CMOs to become modern marketers: ![]() The capability focus for each CMO will differ by business and/or industry. What are the two or three essential capabilities for CMOs to focus on? Help your organization see milestones big and small, and help people get comfortable with the idea that they may never be “done.” For marketers, being modern is about being current and relevant, and the organizations we are building, like our brands, have both a timeless and timely nature. What should CMOs keep in mind as they think through their modern marketing model?ĬMOs should keep in mind that they are leading a journey and that this evolution will continue. Rebecca Messina, former CMO of Uber and Beam Suntory, discusses what it means to be a modern marketer. While each of these components is familiar, we have found that the clarity of seeing them organized into a cohesive model gives leaders a better sense of how to track all the elements and how they should work together. Too often, they focus on a handful of initiatives or capabilities and then grow frustrated when the promised value doesn’t appear.įor this reason, it’s crucial to have a clear view of what constitutes a model for modern marketing (Exhibit 1). In our experience, most senior leaders understand that marketing has to modernize, but they are less sure what specifically that means. Based on successful cases we’ve seen, we estimate that making this change can unlock 5 to 15 percent of additional growth and trim 10 to 30 percent of marketing costs. It’s less about changing what marketing does and more about transforming how the work is done. Marketing departments need to be rewired for speed, collaboration, and customer focus. In a recent McKinsey survey, 83 percent of global CEOs said they look to marketing to be a major driver for most or all of a company’s growth agenda.ĭelivering on this promise requires a whole new way of operating. Modern marketing is the ability to harness the full capabilities of the business to provide the best experience for the customer and thereby drive growth. U.S.While these examples contain some of the hallmarks of modern marketing, in our view it is much bigger than that. Coast Guard Photo A response boatcrew from Coast Guard Station Curtis Bay monitors the 1,095-foot motor vessel Ever Forward, which became grounded in the Chesapeake Bay, March 13, 2022. ![]() The 1,095 foot cargo vessel, Ever Forward, sits grounded in the Chesapeake Bay, near the Craigshill Channel, March 13, 2022. A screengrab from a live feed shows the Ever Forward aground in Chesapeake Bay, March 14, 2022. local time on Monday, although there seemed to be no refloating attempt. The next high tide in Gibson Island, MD is expected at 5:21 p.m. The Coast Guard and Maryland Department of the Environment are coordinating the refloating of the container ship. No injuries or pollution have been reported, according to the Coast Guard spokesperson. Ever Front’s much larger sister vessel, Ever Given, notoriously ran aground in the Suez Canal back in March 2021, blocking the waterway for six days before she was refloated.Įvergeen Marine’s websiste lists Ever Forward’s owner as EVERGREEN MARINE (HONG KONG) LTD. The Ever Forward was delivered in 2020 and is one of 20 “Evergreen F class” ships built for Evergreen Marine, each with a capacity of around 12,100 TEU. ![]()
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