For successful companies, brand purpose is vital for inspiring and driving the total brand experience, according to the joint Marketing2020 study by ANA (Association of National Advertisers) and EffectiveBrands. Marketing2020 examines today’s over-performing brands and their leaders, including 250 CMOs and more than 10,000 marketers across 92 countries.
The following unique set of insights into current and future best practices of global marketing organizations were shared at ANA’s Masters of Marketing Conference:
* CMO Leadership
The study found that CMO leadership is crucial to marketing success. CMOs’ top priorities must be able to lead by example in digital, engage the entire organization, inspire and empower those they lead, maintain brand consistency and build marketing capability.
* Strategy and Goal Setting
Fifty-eight percent of marketing organizations now work closely with the CEO to drive growth – a 20 percent jump from a similar 2006 study. Leading companies are far more likely to have marketing organizations that align toward clear strategy and business goals. This is crucial as marketers increasingly set the growth agenda for companies.
* Organizational Purpose and Employee / Consumer Engagement
Seventy-eight percent of marketers agree that being clear about the company’s broader societal purpose is – and will continue to be – an important characteristic of winning companies. Identifying and adhering to this purpose is key to building successful brands as measured by hard-KPIs, such as lead generation and revenue growth. Over-performing companies actively engage employees, consumers and departments beyond marketing.
* Organizational Structure
Marketing organizations should be nimble and networked – meaning global marketing departments should allow specialization and regions to lead key initiatives rather than relying on far-reaching “global” directives. Winning organizations are also partnering with numerous outside partners and agencies to spark creativity and flexibility – the best have five or more.
* Establishing Clear Roles and Training
Top-down, brands must be built to support overarching business goals and brand integrity. There should be no confusion about individual responsibilities and organizational goals that support the brand. Training to build marketing capability is another crucial differentiator between under and over-performing organizations.
* Data Expertise
Big data expertise is crucial as digital media becomes paramount in marketing. Far-reaching consumer experiences require brands to analyze and understand data effectively. Data should feed into cross-platform social capability and content creation, which Marketing2020 respondents recognized as important to success in the future.
“Marketing2020 provides a breakthrough look at the industry,” said Bob Liodice, president and CEO of the ANA. “Globally, senior marketers will be able to apply these findings internally and externally to enhance and drive change in their companies.”
“The CMO has successfully moved from a position of being the big spender with little respect in the boardroom to an equal peer with a shared sense of business responsibility,” said Marc de Swaan Arons, founder of EffectiveBrands and leader of Marketing2020. “CMOs often have most understanding of the transparent 365/24/7 market and are being asked to show the way by the CEO and peers. Influence has dramatically increased.”
“Marketing2020 is so immense that we’re still uncovering every facet, fact and data point,” continued Liodice. “In the coming months and years, we are confident that it will grow into a crucial platform for senior marketers looking to affect growth in their companies.”
Marketing2020 is a joint initiative by EffectiveBrands, the ANA, the WFA, Spencer Stuart, Forbes, Adobe and MetrixLab. The study represents the largest ever qualitative and quantitative study of marketing leaders and organizations, and will provide marketers around the world with best-practices to focus on, organize for and support business growth.
