I recently read an fascinating report by Accenture entitled “WAY BEYOND MARKETING- The rise of the hyper-relevant CMO” (Chief Marketing Officer)
It was authored by John Zealley who is “Global Lead – Customer Insight & Growth – Accenture”, who was a colleague of mine when we both worked at P&G in Brand Marketing.
Whilst Accenture are mainly focused on major corporations with substantial budgets, they are an excellent organization and there are some key insights in this research that can be applied by SME’s on limited budgets. Two key thoughts stood out for me and I have adapted the research findings to make it relevant to a budget conscious SME:
SME Application 1- Have a “Living Business “Mindset
That means you need to continuously adapt at speed to achieve total customer relevance. What customers are looking for more than ever are “Hyper Relevant Experiences”. In today’s fast changing digital and multi-channel landscape you need to look at how the customer experience can be continually improved.
Whilst this is second nature to Global Corporates it is probably not something many SME’s have ever even thought about! A good place to start is to understand the current customer experience using Digital Marketeer’s Touch Point Mapping Template:
SME Application 2- Consider “overarching” customer attitudes or behaviors that should shape your marketing thinking
Pioneering SME’s need to consider (across all marketing platforms, not just digital) the following factors about customers in today’s landscape:
Whilst incorporating the above factors in shaping a marketing strategy (and in particular digital) accounts for 80% or more of CMO’s in Big Corporates (Pioneering + all others) how many SME’s Owners or Directors have spent sufficient time considering them? What customers are looking for now more than ever are “Hyper Relevant Experiences”. Having a plan for each of the factors above can be a stepping stone to “Hyper Relevance” and driving sales and profit growth…
Interesting food for thought.
Until next time…