Welcome to the latest issue of R3LATIONSHIPS MONTHLY - our ongoing email update of trends and insights into the marketing industry
What is the Chief Marketer's Role in Digital Transformation?
Digital transformation is the topic on everyone’s lips in marketing circles these days. What it is, how it manifests and, most important, what the CMO’s role is in driving digital transformation are areas ripe for unpacking. They are also the areas Greg Paull, cofounder of global marketing consulting firm R3, digs into in his recently released book, Global CMO: Best Practice in Marketing Effectiveness and Efficiency Around the World, coauthored by R3 Cofounder Shufen Goh. Through interviews with more than a dozen of the world’s leading CMOs, including GE's Linda Boff and Samsung Electronics' YH Lee, Paull culls insights and action steps all marketers can implement in their journey to true and impactful digital transformation—key at a time when CMOs are being expected to deliver on not just brand goals but business goals—all in a post-advertising world.
Nearly 10% of Facebook's global revenue, or about $5 billion, comes from China, despite being banned from operating in the country. This means China is the second-largest ad spender on Facebook, only behind the U.S. But how does a platform that's banned in China manage such a feat? "People talk about China as a target market, but less as a competitor," says Swathi Eashwer, a consultant at global research outfit R3. "It's important for brands to be aware of that and to extend out and adapt. We are seeing a lot of Chinese brands trying to enter markets outside of themselves, for example, phones, as well as gaming apps and especially e-commerce." Meanwhile, the number of China-based agencies that specialize in marketing for Facebook are also growing, according to global research and consultancy R3.
For an deep-dive report on Facebook's Chinese agency partners, click here.
60% of Businesses Tighten Up Data Protocols with Arrival of GDPR
A recent study from IBM shows that 60% of businesses have embraced the arrival of General Data Protection Regulation (GDPR) in Europe as an opportunity to tighten up their data privacy and security protocols. The results were drawn from a poll of 1,500 business leaders worldwide, establishing that 84% of respondents believe that proof of GDPR compliance is a positive differentiator with the public. A further 76% believe that GDPR will enable them to forge more trusted relationships although, on the other side of the coin, just 36% expect to be fully compliant in time for the deadline.
For more on this topic, read the full article from The Drum.
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.