by Jerry Mpufane (@JerryMpufane)
“Tomorrow is the first blank page of a 365-page book. Write a good one.” — Brad Paisley
The beginning of the year is a very exciting time. It can also be a very stressful period, if we consider the many priorities and the audacious goals we set ourselves. For many of us agency leaders, despite our best planning, how do we know whether our year’s plans are addressing the important stuff?
Where to focus our efforts and understanding market trends, as well as having an appreciation for what keeps the CMO up at night, are some of the things we can do to help calibrate our plans.
Annual CMO summit
Forbes Magazine and the CMO Network host an annual summit where some of the best brains gather to compare notes. The summit is pitched as “a peer to peer event where CMOs and leaders of major brands gather to engage and address the complex marketing landscape”.
Some topics from the last summit, held late in 2014, give an interesting insight into the issues that some of the world’s top CMOs grapple with. These are topics found to be of interest to the CMO. Most importantly, when resolved, these are the issues the CMOs reckon will be the difference between achieving growth during these generally tough trading conditions.
Interesting choice of agenda
I did not attend the summit, so I am not in a position to share the content of the discussions. I do, however, find the choice of agenda very interesting.
Some of the topics that caught my attention are the following:
- How Creating An Innovation Culture Drives Growth
- How Celebrities Can Make or Break Your Brand
- From Big Data to Smart Data
- Advertising Effectiveness
- Is Your Omni-Channel Marketing Omni-Effective, and
- How Social Media Drive Sales & Build Reputation
“Moving At The Speed of Change” was the overall theme of the Summit. Read that line again.
How many times do we get caught playing catch-up, making big decisions based on yesterday’s data, and broadcasting brand stories that have been told before? This is a wakeup call!
Trends
Looking ahead, here are some trends to watch out for. I predict that these topics will form a part of the constant change, and that they may make or break your year:
- Consumers will increasingly exert power and influence over brands. The best brand campaigns will be those which give a real and accurate portrayal of the consumers’ interests.
- People with a digital DNA will lead all campaign planning. They will lead through harnessing one-to-one channels without ignoring the mass media.
- Simplicity will prevail. This means we will break down silos and do away with complex structures, with the view to get to the point quicker.
- In keeping with the spirit of “moving at the speed of change”, we will focus on the ‘next hour’ by being agile in implementing ‘always-on’ marketing tactics.
- The lead agency will retain channel planning skills as a core competency in this ‘always-on’ marketplace.
- Campaign plans will target the individual as more and more consumers ignore homogenous messaging.
- Clients will continue to watch their costs. Agency leaders thus need to continue the focus upon running efficient operations.
- Employees are key to the delivery of the brand experience. Campaigns will first launch internally, before exposure to the marketplace.
- The old TV-led revenue model is gone. The new digital-led model is comparatively less lucrative. Re-invent the agency model for this new business reality.
- The best storytellers will be the difference between the good and the bad campaigns. There’s no better way to capture the imagination.
Brand is the glue
During this next year, the agency will get closer to the CMO. Brand is the glue that holds things together in the client organisation, and supporting the CMO puts the agency in a strong partnership position. The agency will assist the CMO in building strong relationships in the C-suite.
Many functional disciplines, eg HR, are under pressure to make a meaningful impact within the client organisation. Hold hands with them, and brand their campaigns. The CMO will thank you for it.
Jerry Mpufane has executive experience in both ad agency and client organisations. He’s only got one goal in life, which is to be an inspiring leader. Jerry is currently group MD, Gauteng of M&C Saatchi Abel. His monthly column on MarkLives, “The Business of Business”, focuses on what it takes to run a great AND sustainable ad agency.
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