Chris Connell points to Coca-Cola’s recent decision to dispense with the role of chief marketing officer, the CMO for god’s sake, as a sign of just how rapidly the role of marketing is evolving.
Speaking at the ADMA TechMix day yesterday, Connell also drew on a Forrester study released late last year, which suggests some 30 per cent of all CMOs will get shown the door this year. Marketing is a new discipline and company’s are not afraid to swap out key personnel if they’re not getting the desired results.
Comparing the current climate to the eye of the storm, Connell said marketers were currently copping it from all angles. He said marketers were not data natives, that there’s currently more than 7000 martech/adtech solution providers on the market. There’s unrelenting complexity, not least of which is the empowered customer who wants the Amazon or Uber experience every time.
“There’s no real clear pathway forward,” he said.
However if you work in marketing, before you put your house up for sale, all is not lost, Connell argues, suggesting, marketing as well as being in the eye of the storm is at a Morpheus moment.
“While there’s never been a more demanding time to be in marketing, change brings opportunity and there’s never been a more rewarding time to be in marketing,” he said, admittign he was pivoting towards the positive.
He said marketers needed to see how deep the rabbit hole goes and wake up the new reality.
“Get out of send mode and get into receive mode. Stop trying to interrupt the customer and start trying to engage with them …we need to stop the monologues. We won’t survive with yesterday’s answers . . . ,” he said.
Connell suggested marketers needed to adopt a more chaos theory and stop trying to do things like customer journey mapping.
“Inside the echo chamber of some meeting room with a product manager somewhere, you think that makes sense. You need to stop trying to control the customer journey and try to enable it.”
Connell also warned marketers to stop trying to engage the boardroom with marketing metrics, arguing they C-suite doesn’t care what your metrics are, they care about earnings per share. Chief risk officers have their eyes on marketing budgets and they’re not happy, he added.
“Make friends with the CFOs and learn their equation to calculate earnings per share and work backwards from their. Engine room metrics need to stay in the engine room,” he said.
Union, WPP AUNZ’s bespoke national group model created to service Bankwest, has launched a new national brand campaign for the visual-style terms and conditions the financial institution developed with the University of WA in a bid to make T&Cs more engaging for customers. Bankwest has rolled out visual terms and conditions for its Bankwest Easy […]
Adland doesn't appear to function much before 11am, so it's hats off to these early birds who had to set the alarm.
The first ever web series to be funded by both Screen Australia and Film Victoria for TikTok, will launch on May 17. Produced by Hayley Adams and Michelle Melky, and directed by Logan Mucha, Scattered is a new queer drama comprised of 38 x 1-minute daily eps. It follows three best friends, Jules, Sami and […]
Schwartz Media will extend its audio offering with a new culture podcast. Building on the success of its flagship daily news podcast 7am, and it’s growing arts and culture coverage, Schwartz Media is launching new podcast The Culture at the end of the month. Award-winning journalist, editor of 7am and pop-culture obsessive Osman Faruqi will […]
Building a connection with existing customers is just as integral to any marketing strategy as winning new ones, but how do we turn customers into spokespeople for our brands? By Peggy de Lange, VP of international expansion at Fiverr It’s a well-known rule of thumb that it costs 5-times more to get a new customer […]
In the next instalment of the ‘Proudly Ordinary’ campaign for Tooheys Extra Dry, Lion and 72andSunny continue their partnership with work from Vice and Aaron Gocs (Gocsy). Gocsy is a beloved icon of Australian outsider comedy who creates content for Vice and his own broadcast channels. As part of the highly successful ‘Proudly Ordinary’ brand […]