Welcome to the latest issue of R3LATIONSHIPS MONTHLY - our ongoing email update of trends and insights into the marketing industry
3 Ways CMOs Can Keep Up in an Ever-Changing Digital World
Today’s global CMOs, regardless of sector, are facing the same challenge: digital transformation. New technologies are entering the market at lightning speed, and disruptors are springing up and challenging entire categories. As a result, traditional marketing organizations need to always be thinking two steps ahead, which can be difficult to do while trying to run a global marketing team and keep up with the evolving ecosystem.
1. Fight For Talent - Investing in finding the right talent while also educating existing talent within an organization should be a top priority for a future-fit CMO.
2. Form a New Approach to Partners - The difficult part about forming a best practice agency model strategy is that the answer is different for every organization. One of the most important aspects of a successful relationship is integration and communication across both teams.
3. Measure it to Move it - For today’s CMOs, becoming future-fit is going to be about tethering their activities to the organization’s business success.
Brick & mortar retailers are in trouble. In 2017, over 9,000 stores closed their doors, and that number is projected to rise to over 12,000 by the end of this year. According to a recent report from Alitmeter, only a minority of brick & mortar retailers will be able to make the shift to online, and it won't be an easy (or cheap) transition. This is not to say there aren't any retailers attacking digital disruption head-on. The report highlights five common traits among the most innovative retailers in the market today:
They constantly map the customer journey to create frictionless customer experiences.
They invest and engage into deep consumer research.
They prioritize innovation to target connected consumers.
They cultivate the necessary digital skills to build a future-ready organization.
They invest in formal innovation programs.
To read the full report on Slideshare, click here.
Global Marketing M&A Up 88% in First Half of 2018
An explosion of M&A activity in the marketing space from new and unconventional buyers has led to an 88% increase in activity when compared to the same time last year. Based on our analysis, while the total number of deals remained steady YoY (198 in 1H 2017 vs. 199 in 1H 2018), the total deal value increased from $4.9b to $9.3b. This increase has also been driven by a sharp uptick of activity from both unconventional buyers such as AT&T and WeWork and martech companies, where there were 39 deals completed in first half of this year and tremendous growth in deal value.
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.