Why 432 CMOs rank Brand Strategy as their Top Capability in 2020
Gartner, the global research and consulting firm, recently made public the results of their 2020 CMO Spend Survey. The survey asked 432 marketing executives in North America, the U.K., France and Germany at companies with $500 million to $20 billion or more in annual revenue what their priorities were for the coming year.
Brand Strategy is rated number one (#1), beating perennial favorites Market Analytics, Marketing Operations, and even Digital Commerce. Such that “Brand Strategy” is more widely open to interpretation than Analytics, Operations, Digital Commerce, etc...it is worth noting that Brand Strategy could be construed in a myriad of ways, but ultimately when CMO’s mention strategy what they mean is that they want and need to be more intentional.
Consider some of the trends and current events that are pushing CMOs to feel the need to act with more intent:
CMOs are genuinely excited about the innovation taking place in their organizations. Technology is enabling new initiatives and products, but CMOs discover existing marketing paradigms anchor them to cut-throat tactics. In a post-COVID era in which disruption has been accelerated, that tension is what sparks “Brand Strategy” initiatives.
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Innovate or die has never been more true in our age of digital transformation, when established service-based businesses need to evolve into a contemporary SaaS business or quickly become irrelevant, at best. Read about how PFL used SaaS Brand Strategy to avoid the dreaded innovator's dilemma to evolve from Service to Software.Read More →
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