In 2007 Amway was a global, $6 billion company nearing 50 years in business. Known as a leader in multilevel direct selling, the company had nearly 3 million distributors in about 100 countries. From the outside, the company would certainly appear to have been doing plenty right.
Yet, as it prepared for the 50 anniversary, Amway undertook a massive transformation program, one designed to make the company more consumer-focused and performance-driven.
Jeff Pundyk, CMO.com
In my last post I suggested that one way to let new ideas in was to partner with those who have capabilities you admire. Partner to learn, I said. But there’s a precursor that I should have mentioned. Before you can partner to learn, you must learn to partner.
Jeff Pundyk, CMO.com
It’s a new year with new goals, and you have rededicated yourself to driving results. You are focused and energized. Head down.
Wait. With your head down, you just might miss the signs of change, the subtle shifts that signal that your customers are operating in a different way, that competition is coming from someplace unexpected, that the nature of your opportunity has changed.
You made the move. You invested heavily to put your thought leadership online. Now you’re wondering what happened to all of the cost savings and audience growth you were promised.
Don’t blame digital. For B2B firms that view their online journals as a forum to host an open exchange with readers, the rewards are there. What’s more, the very tools used to create the exchange can be a rich source of data to help guide ongoing marketing efforts.
The traditional role of the marketer is to influence buyers at the moments they are considering a purchase. But digital platforms and, more pointedly, social media have spread those moments over wider and wider areas, introduced unexpected advisers from unlikely sources, and managed to both contract and expand the consideration process, making it increasingly expensive for marketers to engage prospects and customers at the right times with the right message.
The argument is over.
Digital is the most effective and efficient means of connecting with customers. Increasing consumer engagement digitally has measurable impact on both the top and bottom lines. Compelling digital content fuels an increasingly social, mobile, and connected world.
So we can all just get on with it, right?
Yes, there is agreement that digital technology has killed the traditional marketing funnel as consumers turn to one another for advice and information–and that this shift has put pressure on brands to create content that is consumable, shareable, and credible. But the common response seems to be to saddle marketing or corporate communications (or their agencies) with budget-starved mandates to get digital, to become publishers, to interact.