Shifting customer behaviours amplify uncertainty, burdensome cross-functional collaboration yields worse organizational outcomes, and disruptive market dynamics erode traditional sources of brand value. These are some of the challenges facing heads of marketing as we enter 2023.
Gartner says customer demand and buying behaviours continue to fluctuate unpredictably amid pandemic waves, supply chain disruption, inflationary price increases and geopolitical instability. At the same time, strategic marketing priorities — such as innovation, customer experience (CX) and digital commerce — transcend functional boundaries, becoming enterprise priorities with complex cross-functional execution.
Also, traditional sources of brand value are under pressure amid new forces, including disruptive market entrants, heightened audience expectations and the ease of digital learning about unfamiliar brands.
“As CMOs enter 2023, the current environment demands a relentless focus on customer value, purposeful evolution of the marketing function, and continual optimization of brand value,” said Ewan McIntyre, chief of research in the Gartner Marketing practice. “In order to meet the enterprise mandate of driving growth amid continued disruption, CMOs must act decisively to prioritize their investments and their strategy for the year ahead.”
In this PodChats for FutureCIO, we are joined by Srinivas Gattamneni, chief executive officer with ADA, a data and tech-enabled digital marketing and commerce solutions provider.
1. What is the value of marketing today? As a practice, how has it evolved from marketing practices of 2012?
2. What do you see is lacking among marketers in Asia? (skills, experience, etc)
3. What are the top 3 challenges marketers face as they modernise the practice in Asia?
4. How do you see CIO, CMO and Chief of ecommerce work together?
5. Forrester and Gartner are of the opinion that marketing should put greater focus on creating customer value. How would you interpret this into action items for marketers?
6. Coming into 2023, what are your top predictions for marketing and recommendations for marketers?
7. Are marketing practices today sufficiently open and mature to drive this customer experience?
8. What is the value proposition of ADA?