The CMO Club Miami Chapter Roundtable Recap

The CMO Club Miami Chapter Roundtable Recap September 2018 Key Takeaways from the dinner on technology and change

 

Key takeaways

 

When it comes to change, you have essentially three choices:

  • Reactive change, change made necessary by outside forces.
  • Crisis change, an event, situation, or public initiative that threatens the company’s ability to effectively operate its business, or
  • Proactive change, acting in advance of a future situation, rather than just reacting.

By embracing change early, you lean forward, take advantage, and lead the change. This is always the best position to be in.

Use linguistic and semantic technologies to discover trends and insights from social media. The companies who can do this will have a tremendous advantage over the ones who can’t.

You move the topline if you can get consumers attention and trust.  This is a circle loop.  You get attention with trust, and you get trust with attention.

To create winning products, find new insights to create superior innovation and then drive diffusion of the products that builds the top line with great ROI.

What has changed

  • The type of relationships enabled by the technology. We have many more tools and technology at our disposal, driven by SEO & Google Algorithms.

What has not changed

  • Consumer psychology, peer pressure impact and” follow the herd” mentality.
  • Desire for the consumer to look for the best value according to personal preferences and self-interest.
  • Word of mouth
  • Story-telling is still the best way to retain information and engage consumer attention.

Rebuilding Your Organization

First the Who, then the What and then, HowWithout the right talent, we will not win.

  • The evolving of delivery methods– CMO needs to be open to change traditional approaches:
  • The need to think of networks of performance, to re-trainyourself and your organization. It is important that everyone knows how to bridge the past, the present, and the future.
  • We are all in the learning process, and everything keeps changing rapidly.
  • There are things that are more fundamental and mainstream today (i.e. search, social, e-commerce), while others are more insipient, developing and beginning to emerge. (i.e. voice, AI, VR).
  • Embrace the new technologies early. Practice and leapfrog, if needed.

Build relationships with key suppliers that will become an extension of your team and will help you strengthen your competitive advantage in the market.