New pressures demand that companies integrate a digital mindset at the core of their marketing. Two issues are pushing companies toward this next evolutionary phase. First, consumer expectations of marketing are increasingly shaped by their everyday experiences. They’ve become used to brands that know what they want better and before they even know themselves. These high expectations require brands to leverage data constantly to adjust strategy and shape products. Second, there’s widespread lack of trust in marketing and its platforms which creates a new set of challenges for marketers. The ongoing social gaffes, ad fraud and social bots have resulted in a decline in both consumer trust as well as marketers’ faith in the platforms themselves.
To be effective and relevant in the digital age, marketing needs to be re-engineered from top to bottom – from how we build brands to how we organize. Brands must be trustworthy and relevant – especially in a world where consumers expect more from brands, yet trust them less. Content and communications need to be platform-proof so that credibility isn’t undermined by the next Facebook algorithm change.
Thus brand stewards need to make five key changes:
- Evolve from static brand identity to living brands
- Evolve from fixed to agile brand management
- Evolve from digital inclusion to digital integration
- Evolve from data gathering to data activation
- Evolve from adding tools to designing an operating model
By building, managing, activating, measuring and enabling brands differently, companies of all sizes can use the transformation of marketing to become an evolved enterprise.