Marketing has probably changed more in the last decade than it did in the previous three. Yet, marketers of the 1980s would not feel out of place today, as the terminologies being used, job titles and even metrics to measure performances, eerily similar. The methodologies of working remain similar with large dependence on agents to buy out ad space and infrequent advertisements being doled out. That is why few organizations are being able to take full advantage of the digital marketing opportunities now around. A study conducted by McKinsey acknowledged this fact by stating that the high performers tended to do better in business analytics and their usage of data. Orchestrating the market ecosystem involves managing partnerships both internal as well as external to the organization. Brand tribes need to be built so that global campaigns may be designed and local teams can execute them on the ground. New ventures need to be nurtured time and again as L’Oréal has been doing. Agile work ways need to be applied en scale. For this the operating model needs to be agile too. Plus, a stable company structure needs to be in place to execute routine, essential functions. Marketing capabilities need to be adapted for the changing scenario which involves analytics and data crunching. The user experience needs to be smooth and content publishing timely.

Source:https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/building-a-marketing-organization-that-drives-growth-today

Uploaded Date:19 January 2018