Marketing as a Central Business Focus
How to create a truly customer-centric organisation
Marketing is starting to occupy an increasingly central role across many organisations, most companies who held the the view that marketing was a tactical element of the business have now made marketing a strategic department. This is due to the desire to make the customer a key part of the corporate strategy. The marketing department is seen as championing the voice of the customer, fighting to find a balance between multiple stakeholder interests and remaining relevant and delivering on the promised value propositions.
The importance of marketing for stability
This is what the CEO of Nokia said back in 2011:
"We poured gasoline on our own burning platform. I believe we have lacked accountability and leadership to align and direct the company through these disruptive times. We had a series of misses. We haven't been delivering innovation fast enough. We're not collaborating internally. Nokia, our platform is burning."
According to consulting firm EBG's 2015 outcome study of 100 detailed interviews with Marketing Directors from all sectors, to understand the evolution of their work and observe the current issues, new digital channels that bring brands and consumers closer together and an increasingly competitive environment mean that this fact has to be taken into consideration at all levels of the organisation.
The CMO of Yahoo! has commented that marketing as a function may loose its pace once it has created a customer centric culture within the organisation, one way to prevent this from happening is ensure a closer collaboration and mutual understanding between all departments, more specifically, the relationship with IT is absolutely key.
According to Gartner, by 2017 the CMO will spend more on IT than the CIO, for example the need for the sales force to talk directly to the marketing director side stepping IT altogether is a key trend in a high performing business.
"Marketing is both a science and an art, without getting the LOGIC right the magic doesn't deliver" Failan Saleem, Chartered Fellow CIM
Turbulence in markets is forcing organisations to re-look at their DNA of delivering value to empowered consumers and finding the right balance between fundamental marketing and contemporary marketing in a interconnected world.
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