19 Apr 2022
Over the last 18 months there has been a common theme across all the agency reviews undertaken on behalf of brands that we have supported.
Regardless of the discipline being considered, the expertise required or the exact services to be delivered, CMOs want full funnel, data driven, customer centric marketing.
These may not always be the exact words used (although often they are) but the sentiment is there on every brief and clearly understood.
This merited investigation, and a sensible start point is to break down exactly what is meant by full funnel, data driven, customer centric marketing.
Full funnel is a recognition that customers will be at different points of engagement, unaware of a brand at one end of the spectrum to high value repeat purchasers at the other.
Data driven is borne out of the abundance of direct, indirect, proxy and modelled knowledge about the target audience that can mean, for some, the ultimate goal of mass personalisation.
Customer centric looks to deliver what the customer wants, not just what the company can produce and deliver.
As a slight aside, we should ask ourselves what brands did before customer centric marketing? I think it can be described as company centric marketing, which was never going to be successful long term. Isn’t hindsight wonderfully smug!
This common ask across briefs of all types led to us asking why.
Why does a retail fashion business looking to appoint an agency to deliver brand building comms express their requirements in the same way as computer games manufacturer looking to retain and upsell their customers or a charity looking to align the brand building, fundraising, legacy giving and support of its retail estate? They all want full funnel, data driven customer centric marketing.
Three explanations:
There are three significant implications on the CMO and their organisation:
Newly created internal structures and external agency partners can be a great set-up for future success but all this needs nurturing and attention, without which the hoped for potential may fall short of expectation.
To put it more succinctly, no-one buys Calgon when they’ve just bought a new washing machine, but waiting until you do need it can be a costly false economy (as I can personally testify!).
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