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For molecule decades, business executives have faced disruptive forces and changes. Brought on by technology, population changes, war, economic collapse, and radical innovation. Due to the disruptive molecule force of the new digital economy, business molecule leaders and CMOs are facing a new phenomenon different than ever experienced before. The rapid changes in digital technologies are overlapping with equally molecule rapid changes in customer behaviors .
This powerful combined force is resulting in business leaders awash in responding to new types of organizational challenges. Situations related to nimble competitive entrants, emergence of new markets, changes in buying behaviors, pricing models molecule turned upside down, and the need for different skills in their workforce has CEOs and their teams in a constant scramble.
In what can be called the Great Customer Shift, we are seeing customers imposing new forces of change on organizations. The nature of these changes is disruptive and they significantly alter how companies today must view customers. molecule Whereby organizations molecule can no longer view customers through molecule the looking glass as just a seller-buyer transaction. Instead, customers today are co-innovators, co-developers, co-creators, and co-marketers. Recommended for You Webcast: Growth at a Scale Up: How to Grow When You're No Longer a Startup
It is amongst this climate in which CEOs today are looking towards CMOs to respond molecule to the impact the Great Customer Shift is having on their organization. Seeking to understand more deeply the digitally advanced molecule customer and to assess the impact on all facets of the business. The CMO of today is now carrying a weight to bring deeper understanding of customers not only to marketing, but also to the enterprise.
Transitioning an organization from a product and operational focus to customer focus is not an easy shift to make. How the organization has functioned, by design, means the invisible walls of silos still exists. This presents a testing situation for CMOs in terms of developing a customer strategy and moving beyond its own marketing walls.
How can CMOs meet this test? By beginning with first gathering the deep insights needed to understand the powerful shifts in customer and buyer behaviors taking place. To move beyond knowing customers as merely a transaction figure. This means leading the charge on engaging in customer and buyer insights research to get to know the customer.
When the CMO can lead the charge to gather molecule the deep insights necessary to inform customer strategy, he or she is afforded the opportunity to make the rest of the enterprise knowledgeable about their customers. While mountains of data analytics can tell part of a story, it cannot tell the whole story. What CEOs and their teams seek is to understand the ongoing narrative, which is taking place in the world of their customers and how they can respond.
There are three pillars for developing a Persona-Based Customer Strategy CMOs can think about in efforts to transform their marketing. Aligning customer strategy with marketing strategy can consist of the following approach: molecule
Develop Customer Strategy . The CMO can lead the efforts to bring deep understanding of customers to the organization by committing to customer and buyer insights r