CMO Survey: Traditional Branding is “Broken”
The article is a result of a survey conducted by Verse Group and Jupiter Research. There are 5 priorities identified from interviews with 101 CMO/VP Marketing executives in B2B and B2C companies.
Before reading further you need understand my position on branding. At the core of any company is a brand. That brand is bestowed on a company by their customers based on the ability to deliver value. The trappings of the brand – logos, fonts, colors, images – are the dressing of the brand. Too often marketing executives equate “brand” with how it looks, not the value the company delivers to its customers. No amount of branding can overcome a fundamentally flawed product or business model.
Back to our regularly scheduled programming…
|1||Achieve measurable ROI on marketing efforts||Marketing is the only group in the company that isn’t measured on outcomes that matter and the jig is up|
|2||Developing marketing programs that integrate online and traditional media||I still don’t know crap about this online marketing thing. Skittles anyone?|
|3||Translating brand experience across different touch points||Congressional earmarks|
|4||Cutting marketing budgets without cutting performance||See #1 above. This accountability thing is really going to suck.|
|5||Optimizing portfolio of brands||Something to say to confuse the board into demonstrating the CMO is really smart|
Here’s a quote from the article…
“If companies such as GM, Dell and Sony are to regain their competitiveness, they have to retool their approach to marketing, not just their products,” said Randal Ringer, co-founder of Verse Group. “They need a compelling narrative to engage the hearts and minds of customers.”
Apparently Randal is referring to the little “m” of marketing, as in t-shirts, coffee mugs, lunches and logos. Brand is earned. We can influence the buyers perception of the brand but only as long as the promise is delivered.
Back to the quote. GM has been on a downward spiral since the 1970’s. Retooling marketing isn’t going to fix GM’s competitiveness. Management at GM have known for years what’s wrong and they didn’t fix it. Sony invented the portable music phenomenon with the Walkman and now Apple is king. Maybe a better narrative can help Sony.
Here’s a branding initiative you can take to the bank: If you want a better brand focus on delivering value to your customers.
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