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deloitte-post-covid-19-world-is-digitalPsst! Hey, CMO – You’re Up!

Marketing plays a lead role in setting the agenda for the new digitized world.

That’s the word from Deloitte in their recent article, which explains that in order to lead in the post-COVID-19 world, the CMO must have the right digital and data capabilities to create a better connection to customers and collaborate effectively with the supply chain.

Digitization is Accelerating Globally

Almost overnight, customer behavior, media consumption and the internal processes needed to deliver on them have changed. In Europe, the U.S. and across the globe, there’s a new vision in town.

All eyes are on marketing and sales to evolve the organization’s mix of data, technology and a customer-centric culture that embraces digital to leap ahead of the competition.

New Focus on Human Connections

Much energy will need to shift toward transforming the business into a rapid-response organization that prioritizes flexibility to understand customer needs better, and the universal human values behind those needs.

CMO Mindsets for The New Normal

Keeping up with accelerating digitization and cravings for human connection will require that CMOs set their sights on these 3 new mindsets:

  1. Rethinking how customer data gets turned into actionable insights. What is at the heart of your customers at this very moment? The post-COVID-19 world values convenience and the need for control. How can instant access to customer data and supply chain analytics help you respond quicker to win opportunities?
  2. Creating relevant customer engagement. How can you create stories and work with influencers to relate to and shape those values? In what ways can you use technology to collaborate with other levels of the supply chain to engage and be more relevant to your customers’ volatile needs? For example, could price optimization software enable dynamic pricing based on willingness to pay as a strategy to drive new product offerings, new revenue streams and customer loyalty?
  3. Building an organization that delivers. In what ways can you demonstrate that your company understands their new needs and is dedicated to translating the voice of the customer into action? How can you prove you are here for them?

Read the full article from Deloitte here.