Building Marketing Capabilities to Fuel Growth
Of all strategic levers to drive competitive advantage, building marketing capability was identified in Marketing2020 as the most important. Across all industries, in B2B and B2C, over-performing organizations train their marketing teams more often and better than the competition. These companies are growing their revenues faster whilst building marketing capability for the future. What does it take?
Powerful converging forces – including the rise of digital, globalization, and increasing consumer expectations – are transforming the marketing mix as well as how marketers manage their brands and consumer relationships. Winning brand leaders balance agility and an understanding of the new technologies, touch points and partners, with in-depth, consumer insights-led strategic planning, and long term brand consistency. The importance, and pay-back, for building a learning marketing organization has never been greater.
Indeed, one of the key insights of the Marketing2020 study has been that organizations that focus on offering their teams such marketing capability development programs, ranging from foundational skills such as positioning and brand strategy to advanced big data integration and holistic interaction planning, are creating an invaluable advantage over their competition. Here we review these findings and focus on what it takes to develop and embed winning programs.
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