Monday, February 6, 2012

The Changing Role of Marketing

Business CommerceThe role of marketing is changing with marketers challenged to deliver on three new responsibilities:  

  1. Develop communication strategies to build consumer relationships and communities rather than one-way messages. 
  2. Develop tracking metrics to relationships, and uncover insights from a mass of raw data now available.  
  3. Understand the commercial profit and growth drivers of all aspects of the business, with stronger accountability to gain business results. 

These changes are separating the traditional marketing role into two roles - the business general manager, and the consumer relationship manager.  The speed at which these changes are taking place has marketers feeling unprepared in both areas. Traditional marketers lack the new media measurement skills and are also less familiar with the  commercial (non-marketing) drivers of the P&L.

Communication – From Message to Relationshipimage

Prophet’s 2011 State of Marketing report shows that marketers believe that word of mouth communication (digital and social) will replace advertising as a key driver to brand equity in three years. Relationships, reputation and real time conversations are now replacing one-way communications.

 

 

 

 

Data explosion  - Marketers Unprepared

IBM CMO StudyMarketers, with extensive expertise in measuring traditional media impact, are unprepared to process the amount of data available from social media.  Every click, every discussion, every “like” and tweet, is data coming across the desk to be processed and analyzed.  Individual consumer data is replacing aggregate market segment data. There are virtually millions of unfiltered conversations, each with a possible insight. 

 

 

 

Source: IBM CMO Study 2011

CEOs Want Focus on Results

CEOs want measurable sales and profit results for the business from their marketers.  According to CMO.com, CEOs are frustrated by marketers focus on communication activities and “soft results”.  CEOs are changing the performance goal posts, creating marketers that think like general managers.

Three pressures, pushing to create new marketing roles.  It is an exciting profession unfolding.  All that is clear at this point is that the traditional marketing career will change to adapt to these new realities.

What do you think the result will be? 

1 comment:

Carla Max said...

Excellent Post! I just noticed this change a few minutes ago and made a short post about it. I will include your post in it.
Thanks for the suggestions
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