Q According to recent studies, 80 percent of CEOs says they have no confidence in their marketing team, while 70 percent say their marketing teams don't have business credibility or the ability to generate growth. Why is marketing in such a crisis?
When so many CEOs say they have no confidence in their marketing departments, or in their CMOs, it’s a huge issue. It is also resulting in a lot of action being taken by CEOs and companies. A number of CMO roles have been eliminated across companies, and these are blue-chip, consumer companies like Johnson & Johnson or Hershey’s.
Number two, many companies have started fragmenting marketing and putting the different parts in areas outside of marketing. That's another problem. If you take revenue growth and customers away from marketing, what is left? So there is an existential crisis.
By the mid-1990s, with the advent of the internet and data analytics, marketers felt completely out of depth. A whole new breed of people came in and took the agenda away from them. As a marketer, you cannot look like a deer caught in the headlights when asked a tough business or finance question. And that’s what has been happening. And CEOs started losing confidence in the CMOs.
Q How are marketers dealing with the challenges of ad blockers, subscription-only models and customers shunning any form of advertising?
Denne historien er fra March 12, 2021-utgaven av Forbes India.
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Denne historien er fra March 12, 2021-utgaven av Forbes India.
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Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
