Why Does My Bank Hate Me?
Marketing without Money

A Tale of Two Industries

On Tuesday I had the privilege of attending a CMO summit sponsored by Spencer Stuart and Advertising Age.  Presenting were CMO's from WalMart, Capital One, Harley Davidson and Reuters/Thompson.  Panelists were asked about the challenges of being a CMO in this environment.

While their observations were not particularly surprising, (courage, brand focus, staying close to the consumer, luck), what wasn't said was.    No one spoke about the impact of marketing automation on their departments and the changing skill sets required to analyze and operationalize data.   Instead there was more of an obsession with macro trends in terms of the growing Hispanic population, retiring boomers and women in the workplace.

I get that a CMO needs to be sensitive to macro trends, but the leverage that comes from speaking to the  customer as an individual  has to outweigh generalizations about a population.  Implementing strategies that are first to market in terms of mobile platforms and forecasting have to outweigh the gains from understanding the frustrations of being a particular target. 

Maybe it is too small of an issue, but in my world, it's the issue.




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