Digital Transformation Roadmap: Enablers
N ot so long ago, marketing consumer products felt like a genteel game of lawn tennis: Established competitors invested in creative with long lead times, using proven models of TV and big-box retail, alongside trusted agency partners. Today, it’s more like a sprawling contest of mixed martial arts, with new competitors playing by different rules; an unprecedented complexity of channels, content and partners; and a step change in speed and ways of working that has punches flying at incumbent consumer products companies.
Fueling the blur of combat is a radical shift in brand growth models. Within the span of most executives’ careers, advances in technology have reshaped how consumers engage with brands. In the US and UK, more than 60% of consumers now discover products online, and 85% of millennials trust reviews from a faceless stranger more than traditional advertising. The same technology advances have dramatically altered the competitive landscape. CMOs can no longer forecast forward their current profit pools only by looking to fill in geographies and nearby product market segments. That process risks ignoring the industry’s disruptive trends, as profit pools shift quickly from products to services to experiences and communities, and as mass products evolve into new segments with accelerating personalization. Growth strategy today requires consumer products companies to look “present forward” and “future back”—to create a faster horse while envisioning the car—in order to define new growth platforms beyond their current products, business model and capabilities.
Upgrade Content Creation Capabilities
Fueling the blur of combat is a radical shift in brand growth models. Within the span of most executives’ careers, advances in technology have reshaped how consumers engage with brands. In the US and UK, more than 60% of consumers now discover products online, and 85% of millennials trust reviews from a faceless stranger more than traditional advertising. The same technology advances have dramatically altered the competitive landscape. However, the transformation still required across the industry is significant, involving far-reaching changes to consumer products companies’ growth models and the largest buckets of their discretionary spending. And it’s urgent, as consumers and new competitors are moving faster than incumbents can react.
“I cannot give you the formula for success, but I can give you the formula for failure. It is: Try to please everybody.”
DAVID OSWALD
What’s the right path forward? Reinventing the brand growth model requires more than a reallocation of marketing budget to digital. CMOs need a reassessment of growth platforms and future brand portfolios, a new understanding of the consumer journey, a supporting strategy on data and technology.
The consumer journey has fundamentally changed, and so has the role of the brand manager. Once guardians of the brief to agencies, today they must lead hands-on content generation, data management.
TikTok Downloader
August 28, 2024I was suggested this web site by my cousin Im not sure whether this post is written by him as no one else know such detailed about my trouble You are incredible Thanks
free binance account
September 2, 2024Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me? https://accounts.binance.com/hu/register-person?ref=FIHEGIZ8
zoritoler imol
September 9, 2024You got a very fantastic website, Glad I found it through yahoo.
https://www.zoritolerimol.com
lottery defeater software review
September 15, 2024It’s hard to find knowledgeable people on this topic, but you sound like you know what you’re talking about! Thanks
https://youtu.be/e4zs2t2YjiE
Tumor Markeri Cena
September 16, 2024I am curious to find out what blog platform you are utilizing? I’m having some small security issues with my latest blog and I’d like to find something more safe. Do you have any suggestions?
https://poliklinikavinca.rs/laboratorija/
binance
September 19, 2024I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
To tài khon binance
September 20, 2024I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
binance
September 29, 2024Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
binance account
September 29, 2024Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Binance推荐
September 30, 2024Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
conta binance gratuita
October 3, 2024I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
criar conta na binance
October 4, 2024Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://accounts.binance.com/el/register-person?ref=IQY5TET4
^Inscrieti-va pentru a obtine 100 USDT
October 4, 2024I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
trustinvest.ca
October 10, 2024My spouse and I absolutely love your blog and find almost all of your post’s to be just what I’m looking for. Do you offer guest writers to write content for you personally? I wouldn’t mind composing a post or elaborating on a number of the subjects you write related to here. Again, awesome blog!
https://ebizz.co.uk/a-comprehensive-guide-to-dennis-kleimans-life-and-career/