Organizing for digital leadership
Companies will need to relook at the entire business model in order to succeed in the digital space. Today, for example, the traditional boundary between marketing and sales has become blurred. This evaluation will involve establishing new structures, metrics, and processes to ensure that marketing and sales are adequately linked with all the areas of the business that could contribute to the company’s ability to understand and engage with consumers.
Three ways to organize for digital leadership
Take marketing beyond the marketers. Each component of the organization—from finance to operations—should view itself as part of an “engagement engine” that informs product, service, and customer interactions. Traditionally-structured and linear market research efforts should be replaced by more test-and-learn approaches in order to keep pace. This enables the company to engage their customers across proliferating media and interactive channels on an ongoing basis—and on the rapid time cycles digital media demands.
Enhance marketing and sales as the publisher and content driver. Marketers are generating an ever-escalating volume of content, often becoming publishers on a global scale. They create videos for marketing, selling, and servicing every product; coupons and other promotions delivered through social media; and applications and decision support tools. Our research shows that in companies where the marketing function takes on the role of publisher in chief, consumers develop a clearer sense of the brand and are better able to articulate the attributes of specific products.
Harness marketplace intelligence effectively across the business. As more touchpoints become digital, opportunities are increasing to collect and use customer information to understand the consumer decision journey and knit together the customer experience. More advanced marketers are using digital channels to involve consumers in their strategic marketing and product development to an unprecedented extent. This approach enables them to communicate with consumers in new ways, sell in new ways, service their customers in new ways, and obtain insights about their customers in new ways. These developments affect every aspect of marketing and sales work: product development, pricing, communication, multichannel management, and customer relationship and lifecycle management.