Welcome to the latest issue of R3LATIONSHIPS MONTHLY - our ongoing email update of trends and insights into the marketing industry
41% of Asia CMOs Name Complex Business Landscape As The Biggest Challenge
CMOs in Asia are facing a complex array of challenges when seeking to integrate global brand strategy in the region, reveals the latest publication from R3 - Asia CMO: Driving Brand Growth. The book examines best practice in marketing effectiveness in Asia, derived from a series of 13 deep-dive interviews with the CMOs of both global companies and local disruptors, as well as a larger survey of marketing leaders in the region. The book reveals a series of obstacles facing CMOs today, including an increasingly complex business landscape and incredibly diverse consumer demographics. According to the survey, only 7% of Asia's CMOs feel "very prepared" to navigate their brands into the future, and are turning to digital, social and e-commerce to drive their brands forward.
Whether or not the role of the CMO is under threat has been a hot topic for debate in the industry since the beginning of this year. Several high profile marketing firms (the most recent being Coca-Cola) have eliminated the role in favor of a new C-suite position - the Chief Growth Officer. The dramatic changes in the consumer journey and the growing difficulty of proving ROI have caused some speculation as to how much the marketing function translates into business results. While the CMO isn't going to disappear over night, they need to display agility going forward and embrace digital to remain the voice of the consumer.
See three ways that CMOs can jump-start digital transformation here.
A New R3 Partnership For Project-Based Specialists
In the new digital marketing landscape, brands need a perpetual stream of content across channels to create awareness and stay top-of-mind with customers.This has fueled the client-agency relationship trend of shifting from AOR to project-based relationships, and as a response to this growing trend, R3 has struck a unique alliance with Alphachannel, a curated network of digital studios and creative technologists. Alphachannel serves as a powerful CMO-enablement tool to help marketers discover, brief, and collect technology and marketing project proposals from their network, which includes best-in-class AR, VR, Influencer or even Amazon Alexa agencies on a project basis. As the landscape of marketing studios has expanded into a vast ecosystem of specialists, marketers need new tools to find and engage the right partners and create brand experiences that are driven by digital.
R3 is a global marketing consultancy focused on improving the effectiveness and efficiency of marketers and their agencies. Founded in 2002, we work with eight of the world's top twenty global marketers.