September 2012: 115 Innovation Ideas for the Modern CMO
This labor of love was created by people who organically started to curate innovative ideas. It is not perfect, conclusive or exhaustive but it is pretty darn interesting. It’s a set of thought starters focused on 8 categories: Artful Utility, Re-newal, Data Driven, Shareable, Social Good, Sense*able, StoreAge Wars and the 3D World
As Marketers, we have embraced the empowered consumer though many of us have yet to find the wherewithal to join him. We have increased our ability to create personal communications. We are transitioning from “owning” media and creating impressions to earning “mentions,” “Tweets”, “likes” and
“shares.” But even as we make our forays into the hyper-connected digital universe, we find ourselves encumbered by time-worn and increasingly ineffective marketing planning and project management processes and methodologies.
more people are doing more online than ever before, creating more data and opportunity for interaction than at any time in history. Smarter companies are developing digital approaches that support these emerging customer needs. Based on responses from the IBM 2009 Customer Relationship Management Survey, we’ve decomposed the complexities of the new digital reality. As a result, we believe leadership on the connected and collaborative path forward will depend upon using customer insight and channels to understand and engage more effectively with customers.
As businesses take the first tentative steps forward after the recent global economic pressures, it is time for marketing, sales and service executives to confront the undeniable market forces exposed by the downturn. Consumers are fundamentally changed, the world is increasingly digital and business models are challenged to be viable. As CRM professionals seek to develop new paths forward, they must quickly focus on developing customer insight and digital channels leadership that will allow them to transform customer experience, open new markets and reduce organizational complexity.
n the 2009 IBM Institute for Business Value Global Customer Relationship Management (CRM) Study, which surveyed 500 CRM sales, marketing and service executives around the world, 40 percent of respondents identified service as their corporate function most in need of change. When narrowed to service professionals only, that number rose to 47 percent.
The need for change is driven, in part, by a new generation of empowered and enlightened consumers. These digitally savvy people, with an Internet full of information at their disposal, are demanding more interactive and convenient channels through which to communicate with their product and service providers. As they look to engage with companies on their own terms, they are finding traditional service tools, such as contact centers and interactive voice response (IVR) technology, to be cumbersome and unfulfilling.
In challenging and dynamic times, traditional approaches seem to grant companies permission to reduce costs by reneging on prior promises to customers. However, smart companies understand they don’t need to trade customer trust for short term gains. They focus on business effectiveness and efficiency while keeping their promises to customers, creating a win-win for both customers and shareholders. (with Steve LaValle and Brian Morris)
How a tumultuous market and a perplexing organizational workload make the CMO’s job more difﬁcult and more important than ever.