Forrester argues that the consumer-centric, all-digital, media-fragmented century means that the CMO of the future must answer to a higher calling than they currently do by becoming a brand steward and not just a marketer.
The report suggests: “In doing so, the CMO will reposition marketing as the steward of the brand experience across all parts of the company. It is the CMO who must connect the company to the consumer, based not on the company’s needs, but on the customers’ needs. It is nothing less than transforming the CMO from integrator to orchestrator.”
According to the study, the CMO will rely on four pillars to make it work. This includes aligning around consumer groups and creating cross-departmental teams that each work together to serve a specific consumer type across product categories, channels of communication, and brands.
They should also synchronise the entire consumer life cycle to enhance the relationship a consumer has with a given brand. Defining visible value for the consumer to ensure that the tangible offer and the brand experience will become inseparable will also be a priority.
Finally, they should direct the business with consumer insight and monitor share of customer participation rates as a key performance indicator.
The report says: “Their success will no longer be judged on the size of media spend, the latest awareness number, or merely last month’s market share. This report blows apart the conventional wisdom that the Holy Grail for CMOs is to preside over “integrated marketing campaigns.”“
Elsewhere, a new Forrester Research report looking at the state of consumers’ digital music consumption around the globe reveals Europeans love engaging with free digital music, but don’t like paying for content whereas Americans love buying digital music, but growth rates around other digital music activities are levelling off.