Why 432 CMOs rank Brand Strategy as their Top Capability in 2020
Gartner, the global research and consulting firm, recently made public the results of their 2020 CMO Spend Survey. The survey asked 432 marketing executives in North America, the U.K., France and Germany at companies with $500 million to $20 billion or more in annual revenue what their priorities were for the coming year.
Brand Strategy is rated number one (#1), beating perennial favorites Market Analytics, Marketing Operations, and even Digital Commerce. Such that “Brand Strategy” is more widely open to interpretation than Analytics, Operations, Digital Commerce, etc...it is worth noting that Brand Strategy could be construed in a myriad of ways, but ultimately when CMO’s mention strategy what they mean is that they want and need to be more intentional.
Consider some of the trends and current events that are pushing CMOs to feel the need to act with more intent:
CMOs are genuinely excited about the innovation taking place in their organizations. Technology is enabling new initiatives and products, but CMOs discover existing marketing paradigms anchor them to cut-throat tactics. In a post-COVID era in which disruption has been accelerated, that tension is what sparks “Brand Strategy” initiatives.
On this week’s episode of The SaaS Brand Strategy Show, we dissect the debate between business strategy legends Andy Raskin and Christopher Lochhead. Though framed in different ways, there’s an escalating focus on the story businesses use to tell and sell the market. With all our respect to these luminaries that have blazed the trail before us, we dive into their points of view, and ask the question—where is all this language coming from, in the messaging and positioning space? Do these points of view reflect different approaches to the same goal? Semantics or substance?Read More →
Marketing has one message to achieve awareness, sales adopts another to close the deals, and product rationalizes a different one to address competition and/or customer requests. This is a sign the company has likely grown past the original founder's insight and needs a new strategy to base the narrative. The CEO's are left to try and figure out how to get the entire company to talk about what they do the same way. And the CEO's solution is often to ask the CMO to fix it.Read More →
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