In April 2016, the AMA unveiled its new intellectual agenda founded on seven big problems impacting marketing. These seven problems were identified through the rigorous collaboration of practitioners, researchers and experts. Of course, the nature of the industry shifts rapidly. With this in mind, the AMA is consulting industry experts to continue the discussion.
Do these seven problems capture the full scope of marketing’s changing landscape? Addressing the first problem are seven experts speaking for various parts of the industry. Take quiz below to see how your firm is doing.
Author of The Digital Transformation Playbook and faculty at Columbia Business School
“Is the CMO now the Chief Commercial Officer? For many businesses, the answer is yes. For years, the role of marketers has primarily been to drive demand for existing products and services through customer acquisition and retention. Today, dramatic changes driven by digital and other factors are forcing businesses to look for new sources of growth as old competitive advantages rapidly decline. Marketers are being tasked not just with “selling our stuff,” but with helping a firm transform its value to the market. If the unique role of the marketer is to keep the business focused on its customers, then an essential job of today’s marketer is to discover the next generation of products, services and experiences that can bring value to its customers and earn value for the firm.”
Chief Growth Officer at The CHR Group
“Need-based targeting is a great way to start. Find the market you want to serve and address its needs. Creating a product in isolation is risky—how do you know it will appeal to anyone but you? The best way to reach a market segment is to understand where that segment “lives.” Brands need to refine their stories, tell them well and communicate them in ways and places where consumers will respond. This is different for each market, but every market is reachable.
We all take positions: in our families, at work, online. Products need to do the same. Maybe a product is not for everyone. Is there a spin about the design? Is it organic and non-GMO? Is there a celebrity-endorsement, or is the focus that it is made by a 3D printer in Brooklyn? There are always stories to tell. Find your story and tell it.”