What Is The Evolving Role Of The CMO?
“Brand currency is a hyper-fast profit mettle which needs to be shined, primped, pruned, measured and aggressively evolved, daily.”
CEOs and CFOs have weathered this downtrodden global economy in part by downsizing human capital, improving supply-based economics, enhancing operations and reining in costs across the board. With profits enjoying the protection of cost reductions, it is now time to raise the roof on revenues, market share and brand value. Brand value is the pylon to profit torque: the core product to price-competitive entry lever to ensure the gain of a few more pennies per product turn, per consumer purchase instance.
We all know there is an insane overpopulation of broadcast media (600-plus TV channels), editorial-based websites (hundreds of thousands), overabundance of social networks, email marketing, magazines, outdoor, radio, direct mail programs, etc. for CMOs to use for placing their local and global brand bets. All while consumers work overtime to ignore or skip advertising,irrelevant product and or brand messaging. All while our new digital economy has democratized the power and consumer essence of both mature and new-to-market brand opportunities.
The opportunity and environment for building and strengthening our brand value has never been more difficult, demanding, or confusing. Beyond advertising media, the needs, actions and buying habits of baby boomers holding the largest disposal incomes across America is rapidly changing. All while overall consumer brand and product expectations are nearly magical in their minds, in expected performance and in unrealistic expectations. And oh yes, tablets and smartphones reveal instant plus-minus brand and product opinions, instant best-lowest pricing: instant brand buying or dying engagements.
Through all the very good intentions and relevant attention to medium and market changes, unfortunately, in many instances confusion becomes inevitable. And even within smart demographic targeting, there is a slippery emergence, a confluence of additional consumer and market dynamics to avoid.'