The book explores how leading marketers are grappling with and surmounting the challenges of heightened customization demands, fragmentation of media and markets, growing pressure for returns on marketing investments, and other crucial issues.
| Key Challenges | What the CMOs Are Talking About | |
| Put the Consumer at the Heart of Marketing | Knowing what consumers are actually thinking & doing Changing research and knowledge management practices Transitioning the mind-set of a whole organization | “HP knows the top 10 factors that drive customer loyalty, and it measures them constantly. Corporate marketing can then go back to each business and say, ‘Here’s where you’re falling behind in terms of the customer experience you’re providing, and here’s how it relates to market share and margin growth.’” -- Cathy Lyons, CMO Hewlett-Packard |
| Make Marketing Accountable | Marketing accountability on two levels ROI metrics and the marketing dashboard Measuring the impact of new media Developing the measurement capability | “The most important thing that’s changed in the last 10 years is measurability of what we do… New channels are regularly emerging that allow us to understand what it is we’re doing as it related to acceptability with the marketplace. And we can do it with much faster turnaround.” - John Hayes, CMO, American Express |
| Embrace the Challenges of New Media | Openness to experimentation Balancing the new and the old Pull vs. push | “ …consumers are in control. It’s more than just click the remote capabilities or the ability to do a browse/search on the Internet. Consumers are telling us that they want to be in control of the storytelling. And as part of that desire, they want to engage in advertising in different ways.” - Beth Comstock, President, Integrated Media, NBC Universal |
| Live a New Agency Paradigm | Identifying the right agency partners to meet marketing’s needs Creating a new kind of partnership between marketers and agencies Balancing cooperation and competition to get the best ideas | “[Agencies] need to get more integrated. They need to collapse structures. They need to go digital. Those that are making those changes are turning away business. Those that haven’t adjusted are struggling.” - Jim Stengel, Global Mktg Officer, P&G |
| Recognize the New Organizational Imperative | Balancing generalist and specialist skills Driving the training agenda Integrating with other functions | “ In marketing, you need to use both halves of your brain…You need to have the analytics. You also need to have the intuition. And you have to be quite flexible at using and leveraging both parts of your brain” - Rob Malcolm, CMO, Diageo |
| Remain Adaptable | Making adaptability an inherent part of the marketing agenda Raising senior leadership awareness of issues and implications Driving marketing as an integral, integrated part of the enterprise | “ I’ve never worked for the same company for more than two years in a row, because FedEx keeps changing. We have new marketing challenges every day.” - Mike Glenn, CMO, FedEx |
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