Evolving from CMO to CDO
12.15.2008 17:50:55
A survey of CMOs from top brands (recently conducted by the American Association of Advertising Agencies) finds them compelled to completely transform themselves into Chief Digital Officers. This is to be expected. With digitization, marketing's 4P's have converged just as culture, commerce and communications have converged. To survive, every brand must become a media platform and all brands are in the business of e-commerce - either to sell or gather data comparable to what their competitors have. This reality is making CMOs very nervous. Most don't feel expert enough to leverage digitization to drive or measure results at a time they desperately need to. One CMO reportedly believes "If we don't get digital right we'll cease to exist as a company." To all who panic, we at LSB are here to reassure you based on our years of experience. Digitization will unleash what's always been in you trying to get out: A means to leverage the voice of the customer and easily jumpstart engagement, creating brand fanatics and inspiring word of mouth. It will make agency selection and management easier too, as you find that there's no such thing as the world of "traditional" agencies and media vis a vis the world of "new" media and interactive agencies. There is only one world and one type of agency-the one fluent in digital. All other agencies are, or are soon to be, out of business.
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