Accenture Interactive Boss: Do CMOs Have What It Takes To Lead The Growth Agenda?
In this guest post, Michael Buckley (pictured below), managing director of Accenture Interactive in Australia and New Zealand, argues that CMOs have a golden opportunity to become chief growth officers, but risk being surpassed if they don’t grab it with both hands.
Disruptive growth can mean many things to many people. In a business context, it means tackling innovations that have created a new market and aligning the business agenda accordingly, and securing opportunities for new value. As traditional sources of revenue become more elusive, brands are increasingly looking to disruptive growth as a key objective. In the midst of this increased pressure, a recent Accenture study revealed more than one third of CEOs are placing chief marketing officers (CMOs) in the hot seat when it comes to executing growth strategies. Given this pressure, it’s not surprising that CMOs are increasingly looking to take the lead in disruptive growth.
It’s widely recognised that disruptive growth and digital are inextricably tied. CMOs fill a key role in the end-to-end customer experience and typically have control of many of the digital levers that drive disruptive growth. Industry leading marketers are making the most of all digital levers at their disposal; shifting business direction to align with customer and consumer demands. According to the study from Accenture, three in four CMOs say they already have either ‘total’ or a ‘great deal of control’ of digital levers that are critical enablers for disruptive growth. While this sense of control is reassuring and positions businesses for the future, digital capabilities are only one part of the disruptive growth journey. Disruptive growth requires new value propositions and partnerships as part of an expansive business platform.
Microsoft’s transformation of Outlook took a simple email product and created a platform that connects users to third-party services such as Uber, Yelp and Evernote. Toy giant LEGO turned entry-level robotics toy Mindstorms into a software platform that brings more users into the brand’s ecosystem. In each case, these companies recognised disruptive growth opportunities beyond the scope of digital levers by focusing on the results created using those levers. Creating new platforms for growth is key to realising results, and these examples have leveraged a business model they already had to create a completely new model with far more profit potential.
CMOs who can best articulate a disruptive growth strategy will make a natural transition to the emerging role of chief growth officer (CGO). This career trajectory has already been seen globally with the former CMO at Kimberly-Clark taking on the role of Kellogg’s CGO. Despite this opportunity, Accenture’s study shows only 37 per cent of CMOs view disruptive growth as very important, versus 44 per cent of CEOs; showing a lack of alignment on this issue and hampered opportunities for CMOs. As many companies look to create CGO roles, CMOs need to recognise the potential and be the ones to step forward to create the platforms that will catapult their business towards new opportunities. Looking at platform opportunities for growth is a necessary first step. As those most in touch with customer desires and demands, CMOs can harness that knowledge to drive new ways of satisfying them.
To capitalise on this opportunity, Accenture Interactive believes CMOs must make priorities disruptive. They should give key consideration to meeting customers’ unmet needs or creating new needs; shifting from a product or services orientation to an outcome orientation with a frictionless customer experience.
The primary role of marketers as CGOs will be to drive the disruptive growth that moves companies to own a greater share of each customer, as well as fostering new customers. When Nike furthered its business opportunities by placing a chip in a shoe to feed data about training to a consumer’s mobile device, many moving parts had to be coordinated. It was not just about marketing a new shoe – it was about hooking customers into a platform. Now, the Nike+ platform features everything from personalised coaching to social elements for friendly competition with other users, who connect via their own third-party devices like a smartphone or wristband.
When it comes to disruptive growth, CMOs are at a crossroads. They have the clear opportunity to step up into the role of growth officer. However, if they don’t choose to actively take on the responsibility, they’ll be surpassed by others who can fill their shoes. Changes to the CMO role are coming whether CMOs meet them with open arms or not. Accenture Interactive sees the role evolving to focus on disruptive growth via digital platform businesses; an evolution which allows CMOs to be at the frontline. Company expectations aside, this is an opportunity no ambitious marketing executive wants to miss.
Please login with linkedin to comment
Accenture Interactive CGOs chief growth officers chief marketing officers CMOs Michael BuckleyLatest News
Stop What You’re Doing! B&T’s 30 Under 30 Awards 2021 Are Now Open For Entries!
Of all of B&T's events, 30 Under 30 definitely attracts the coolest, hippest crowd but arguably has the crappest music.
Atomic 212° Wins BMW Group’s Media Planning & Buying
Following a competitive pitch process with representation from major agency groups, BMW Group Australia has appointed Atomic 212° as the lead agency to manage their media planning and buying. The appointment is effective from January 1st 2021 and is a testament to Atomic 212°’s data-led smarter, faster and accountable media model. The account will sit […]
Deliveroo Turns On Beach Delivery For This Summer
With temperatures up to 40 degrees across Australia last week, it’s safe to say it’s officially Summer weather. Enter beach delivery by Deliveroo to guarantee a sand-free sandwich or burger whilst you enjoy the rays and waves. From 2 December, Australians nationwide will be able to set many of the country’s 10,000 beaches as their […]
Digitas Australia Unveils Seven-Part Data Masterclass Series
Digitas unveils seven-part data masterclass series. Apparently you get a stubbie holder if you make it to the end.
Advertisers Vs Aussie TV Networks: Who Scores Best On Sustainability?
The great "advertiser-network sustainability" debate answered here. Yes, B&T added in the "great" to give it some pep.
Ex-Hogarth Executive & Fusion Co-Gounder Bucks Agency Model With New Product Design Firm, Diagram
John Chaplin (pictured), former Chief Product Officer of Hogarth Australia and Co-founder of award winning digital agency Fusion, has launched a new digital product design company, Diagram. Based in Sydney, Diagram are a collective of creators and makers who partner with individuals, agencies, startups, business and industry to design and build considered, elegant digital products. […]
Nike Ad On Bullying Sparks Racism Debate & Calls For Boycott
Nothing says "well, that ad certainly pinched a nerve" quite like global outrage and threats of a customer boycott.
Kmart Produces First-Ever TV Special, A Christmas Showcase On Nine, Via Mushroom Group
Pauline Hanson has called for a boycott of Chinese-made goods. You'd have to think that'd be the end of Kmart.
DDB Retains Iron Grip On Top Spot For New Business Wins
DDB's stellar 2020 continues apace. Well, apart from that family of possums in the attic & the septic playing up.
Spark Foundry Roars To Top Spot For New Media Wins For October
Spark crowned Australia's best performing media agency, as Beverly from accounts threatens to bake gluten-free brownies.
Salesforce Makes Moves In Automation And Digital Transformation As Part Of Dreamforce 2020
After announcing the mega acquisition of workplace chat company Slack yesterday, tech giant Salesforce has made a raft of announcements as part of this year’s annual Dreamforce event, which has been held virtually. Headlining the announcements was news of Salesforce Hyperforce, which comes as a reimagination of the company’s platform architecture built to securely and […]
Carat: Google, Samsung & eBay Top List Of Australia’s “Most Emotionally Intelligent Brands”
Carat unveils list of top emotionally intelligent brands. B&T assumes they also workout & watch their alcohol intake.
South Australia Health, Wavemaker & News Corp Act Fast To Launch COVID-Safe Black Friday Mask Giveaway
B&T has been vigilant with our face masks. If you'd smelt our office toilets you'd understand why.
Taylor Swift, Ryan Reynolds And Satan Destroy 2020 In Comedy Gem For Dating Site
Here's a top piece of feel-good ad making. Although, be warned in case Taylor Swift's music makes you strangely violent.
triple j’s Hottest 100 Kicks Off With Lifeline Partnership
The countdown to triple j’s Hottest 100 has begun. And that means the Australia Day naysayers have also begun, too.
Jessica Thompson Joins Leadership Ranks Of Salesforce Partner 8squad
Australia Post's Jessica Thompson has joined 8squad. Apparently still has a roll of $1 stamps if anyone needs them.
Google Signs On To Pay Australian Publishers As Part Of Global Initiative
Google set to pay Australian publishers. Apparently in ground unicorn horn dust and plundered Inca treasures.
iStock Releases 2021 Visual Trends To Support SMBs And SMEs
Is losing weight and visual trends top of your 2021 "to do" list? This'll help with visual trends & is low in calories.
Air New Zealand Goes In Search Of 8th Wonder Of The World In Fun New Safety Video
When B&T has important business in Rotorua we fly Air New Zealand. Not that we've actually ever been to Rotorua.
What’s Next For Australia’s Privacy Laws?
Here's a top article on the state of Australia's privacy laws. Sadly, no, we didn't hack it off another industry site.
IBA Report Reveals PR & Marketing Agencies Are Falling Short Of Today’s Market Needs
B&T's stopped short of calling this report into PR & marketing agencies as scathing. Bitchy & catty, yes. Scathing, no.
DoubleVerify Launches Publisher Suite For Digital Publishers
DoubleVerify has today announced the launch of the DV Publisher Suite, providing the measurement, insights and tools digital publishers need to improve ad delivery, assess inventory quality and maximize yield. For publishers, generating revenue has never been more complex. Today’s demand-side landscape consists of thousands of potential buyers, each with their own unique requirements, transacting […]
Australian Open Start Date Confirmed For February The 8th
Aussie Open organisers confirm the date when every Australian suddenly has to become interested in tennis for two weeks.
Verizon Media Launches ConnectID As A Cookie-Less Solution
Verizon Media has announced the launch of its new unified identity solution, Verizon Media ConnectID. Built on the foundation of Verizon Media’s consumer-first values and market-leading advertising technologies, the new unified ID solution is designed to support advertisers, publishers and consumers as the digital landscape evolves away from cookies as a way to manage and […]
The End Of The IDFA Is Nigh: Preparing For Mobile Identity In 2021
If mobile marketing's your shtick then you need to plant the peepers on this explorative piece and pronto.
Val Morgan Outdoor Launches Next-Gen Screens At World Square
Val Morgan unveils its next-generation screens. So new in fact, they've still got the bubble wrap & price tag on them.
Yeesum Lo Joins 10 ViacomCBS As Head Of Development
In developing news, 10 ViacomCBS has appointed Yeesum Lo as its new head of development.
Bunnings Light Up The Warehouse In Christmas Activation Via Bastion EBA
When it comes to a bag of manure or some weed killer under the tree this Christmas, Bunnings is your one-stop shop.
The Top 100 TikTok Creators, Trends And Videos In 2020
Here are the top TikTok trends & videos for 2020 which, arguably, will be of no interest to anyone older than about 10.
Fleur Head Steps Into MD Role At VMLY&R New Zealand
VMLY&R NZ announces Fleur Head is stepping into the role of Managing Director VMLY&R New Zealand following the resignation of current MD James Mok. Head was previously Managing Director of VMLY&R Wellington. Wellington-based Head, who has more than 25 years agency and management experience across both the Auckland and Wellington markets, will lead VMLY&R NZ […]
