I recently had a chance to participate in a panel discussion of CMOs as change-management operators at a recent event put on by IQPC CMO Exchange – Miami in January, 2013. From my perspective, there are two camps of marketing people – those that have a big “M” role and participate in the most fundamental strategy and business decisions of a company and those who sit in a tactical marketing roles and worry when the next data sheet drop will occur. I am exaggerating the two extremes, of course, but this is a serious issue. Many CMOs are caught between a rock and a hard place when it comes to managing change within their organizations. Some CMOs are not allowed to contribute and others do not know how.
More than any other business function; the CMO and marketing-department roles have changed in rapid and radical ways during the past few years.
Here is an excerpt from the post about my time as a change-management operation at at Eastman Kodak.
Vince Ferraro (@VinceLFerraro), former VP Global Strategy & Marketing, Corporate & Consumer Group, at Eastman Kodak, and a global B2B and B2C brand-building veteran, had a fascinating set of “Kodak moments” to share.
“Much has been written about growing brands and businesses to new levels of success. Surprisingly, little has been written about how to manage a brand when a company and its products and services are in decline,” he said. “Such was the case when I managed corporate and consumer marketing during Eastman Kodak’s Chapter 11.”
Ferraro said he learned valuable change-management operator lessons during that time–lessons that, ironically, can be applied to companies that are growing and vibrant:
- Do not expect a call to be a leader. Just act and do. Lead the change you want to have happen.
- Know the limits of your brand.
- Know when to let go of unprofitable customers. If you try to please everyone, you will wind up pleasing no one.
- Tell your unique brand story and value proposition, and be in control of it versus letting everybody else define what your brand story is.
- In an age of dynamic changes, learning how to deconstruct marketing functions and budgets is as valuable as constructing marketing functions and budgets.
- Using a zero-based approach to marketing budgets along with having meaningful metrics and analytics to measure results is necessary to identify what resources you should keep, discard, or outsource.
- Do the fundamentals exceptionally well before you “experiment” with new marketing techniques.
Read the entire article at the link below:
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