As the B2C arena continues to evolve, traditional marketing tactics remain relevant yet increasingly difficult to quantify. With multi-platform consumer activity opening doors to new marketing channels, it becomes a balancing act to continue a legacy marketing approach while exploring new digital opportunities.
Forward-thinking companies are trying to keep one eye on achieving “traditional growth” while at the same time looking at how “disruptive growth” can offer a competitive advantage. This strategic approach is catching on quickly; 44% of CEOs cite “disruptive growth” as important to their overall strategy. So as more and more companies hop on board, the question becomes – which internal position is best suited to lead the charge?
The inception of a “Chief Growth Office” role has sparked competition within C-level teams. At this point, it appears CMOs have an edge; 50% of CEOs are looking to their CMOs to spearhead their disruptive growth agenda. This sought after position offers an exciting chance to gain market share, there is no compass with which to navigate so initial efforts will have a touch-and-go approach.
Here at MacKenzie Corp we have a saying when any business is about to enter unfamiliar territory; Perception is unreliable. Stick with data.
This concept is the result of 30+ years providing businesses with focused analytics and data-driven insights in support of ongoing efforts toward growth and revenue. Throughout that time, while the business environment has certainly changed, the key principle of relying on hard facts to guide decision-making has become more relevant than ever.
Any exploration into new territory carries equal parts opportunity and risk. Success is typically preceded by a detailed understanding of the existing landscape, and since the disruptive landscape is perpetually redefined it’s important to have access to as much information as possible.
Before launching out into the unknown, even a glimpse of what’s ahead can offer enough insights to avoid stumbling blocks. Some of the most experienced CMOs can be unfamiliar with disruptive growth concepts, so having a finger on the pulse of marketing trends and consumer demands will only serve to strengthen ensuing efforts.
This foresight is acquired by including market research and data analytics as part of the overall disruptive growth strategy. It’s also to ensure these efforts are accurate and reliable. While it’s understandable when companies want to conduct this research and analytics process in-house, partnering with an expert (like MacKenzie Corp.) will improve the odds of success.
To read more about the role of CMOs in pursuit of disruptive growth, CLICK HERE.
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Whether you’re goal is to better communicate with existing customers or to reach new ones, leveraging the value of market research and data analytics offers reliable insights for smarter decisions.