The world has changed …
… and so has marketing! How do you know what is best practice or even the good practice? What if the previous ways of doing things don’t always work now or new technologies seem to be turning accepted nostrums up-side down? Marketing has changed more in the last 4 years than in the previous 50 years. The Digital Revolution has affected every aspect of marketing from Product to Promotion and is now an integral part of the business and marketing mix.
By Charles Nixon
Founder & Chairman of Cambridge Marketing College
and Henrik Lauridsen, GERBUS Academy
Business leaders need to review how they „do“ marketing.
The waves of creative destruction continue to crash on the world of marketing and change it from the broadcast communications discipline of the 20th century into a responsive relationship medium. As much today about business development as communications, marketing is evolving into a powerful branch of management for the 21st century organisation.
In response to recent years’ changes a new set of operational Marketing Standards have been developed by the World’s largest body of marketers, the Chartered Institute of Marketing.
They are important because they reflect what the industry expects and requires of marketers in today’s environment. Also, the standards enable marketers and – also – business leaders to benchmark the capabilities and behaviors needed for top performance.
2 On the upcoming GERBUS Knowledge Day, June 20th 2017 (in Hamburg), we will – among others – be presenting eight key competences, which business leaders should expect of their marketers to master…
|Brand …||is about defining brand strategy and positioning, managing the brand and providing clear brand guidelines for its protection, and tracking and measuring its performance to inform future activity.|
|Risk, Reputation and compliance …||is about managing corporate risk, governance and reputation through effective monitoring of relevant legislation and regulation to ensure ongoing compliance by marketing. It is also about managing the overall reputation of the organization through the alignment of people, processes and brands.|
|Integrated Marketing Communications …||is about the integration of marketing communications strategy with business strategy and the use of both physical and digital communications tools in an integrated way.|
|Digital Capability …||is about influencing organizational digital strategy in terms of its impact on structure, culture and strategic plans as well as integrating digital capability into marketing to meet the needs of the customer.|
|Value Propositions …||is about the development of customer value propositions using an innovative approach as well as the delivery and management of customer propositions, products and services.|
|Channels to Market …||is about developing and managing appropriate channels and partners to meet changing customer needs and business goals.|
|Customer Experience …||is about defining what the customer experience should be in order to meet corporate objectives and achieve customer advocacy. It is also about the delivery of activities that deliver the desired customer experience.|
|Monitoring and Measure …||is about ensuring that all marketing activities, whether generated by the organization or the customer, are monitored and measured for their effectiveness. Data and insights produced are then interpreted and used to achieve improvements in the future.|
Marketing is “Chef-Sache” …
In addition to the above, three core capabilities of Insight, Strategy and Championing the Customer sit at the heart of marketing and play an essential role in forming our understanding of the market and developing marketing solutions that lead to the achievement of business goals and sustainable organizational performance.
3 These and how you can assess and develop your own marketers – be they external providers or internal employees – will also be addressed at the GERBUS Knowledge Day: “Marketing im Digitalen Zeitalter”.
Hoping to see you there!
GERBUS Academy – Executive Education Programs
GERBUS Academy provides innovative business programs targeted at executives and topmanagers across Europe. We do so in co-operation with the world’s best business schools, professors and management thinkers. At the upcoming GERBUS Knowledge Day (for our GERBUS Executive Forum members), June 20th 2017 in Hamburg, we will launch our new co-operation with Cambridge Marketing College. Founder Charles Nixon and CEO Kiran Kapur will host a day with focus on “Marketing in the digital age – Marketing 4.0”. To learn more about the agenda and program for June 20th, please visit our website / GERBUS Executive Forum.