37 min
3 Pillars of Digital Marketing Transformation for Sustained Resilience and Growth Modern Marketing Engine podcast hosted by Bernie Borges
-
- Marketing
In recent history, there have been three important events that have led marketing teams to shift their focus and embrace digital marketing transformation.
The first event was 9/11 in 2001 and how fear and uncertainty gripped the U.S. (and others) which hindered planned marketing activities including travel and events where thousands of people congregated. The second event was the economic crisis of 2008 which had both businesses and consumers concerned about the repercussions that came out of every dollar spent. Third, is how COVID has affected many lives and how we conduct business.
March 2020 provided the world with a new chapter. Those who accepted and embraced the changes with compassion for each other have figured out ways to conduct business, despite the challenges many businesses have faced.
My guest this week on the Modern Marketing Engine podcast is Sara Larsen. Sara’s experience and “marketing scars” come from years of marketing leadership roles at organizations such as IBM, SAP, and Dassault Systems. Most recently, Sara was the CMO at Brightcove, the leading online video streaming platform.
Sara and I spoke about what she describes as the three digital marketing transformation pillars every organization needs in order to become successful in the face of significant change.
Marketing Transformation Pivot Before I reveal Sara’s three pillars, the word pivot warrants attention. This word is likely on the list of words that marketers didn’t anticipate we would use so much in 2020. The word is commonly used to define a slight change that ensures short term survival. This is exactly what many marketers thought 2020 needed, a slight change in the way we market our businesses.
But as the events of 2020 unfolded, we continued to see no indications that things would return back to its pre-COVID state. So, the word pivot was not only used to describe short term survival, instead, it was used to describe long term resilience and growth.
Most organizations have already gone through the first part which is ensuring short-term survival. For example, some businesses in B2C have adjusted for the short term such as bakeries pivoting to sell kits to bake at home and alcohol distilleries pivoting to make hand-sanitizers. However, these adjustments or pivots aren’t necessarily sustainable and we now need to think about how we pivot towards long-term resilience and growth.
Pillar #1 - How Relevant are you during this Marketing Transformation? Many organizations began to experience the reality that some customers didn’t view them as necessary or relevant in the “new normal.” As marketers, we need to understand that buyer’s needs have changed, and we must ask ourselves, is what we’re selling still relevant?
This is where marketers need to be aligned not just with sales but also with your product strategy. Sales can tell you what conversations they’re having with buyers. What are they looking for now? What are their highest priorities and where in their organization does your product fit in? This will help define how imminent a pivot will be from what you were doing before to what you need to be offering now.
We’ve always seen alignment as important but in the face of digital marketing transformation we see that it is more important than ever. Business continuity is also at an all-time high. For example, video messaging can sometimes substitute for those virtual meetings that your buyers may no longer consider as high-priority.
Pillar #2 - The Marketing Mix Has Fundamentally Change Interestingly, many of us can tell you the exact day, hour, and even minute when we realized back in March that our plans for the year were going to be turned upside down. When the COVID-19 outbreak has deemed a pandemic everything changed.
The most notable marketing pivot in 2020 centered around events and event planning. Most events have either been canceled or have gone entirely virtual. These new events
In recent history, there have been three important events that have led marketing teams to shift their focus and embrace digital marketing transformation.
The first event was 9/11 in 2001 and how fear and uncertainty gripped the U.S. (and others) which hindered planned marketing activities including travel and events where thousands of people congregated. The second event was the economic crisis of 2008 which had both businesses and consumers concerned about the repercussions that came out of every dollar spent. Third, is how COVID has affected many lives and how we conduct business.
March 2020 provided the world with a new chapter. Those who accepted and embraced the changes with compassion for each other have figured out ways to conduct business, despite the challenges many businesses have faced.
My guest this week on the Modern Marketing Engine podcast is Sara Larsen. Sara’s experience and “marketing scars” come from years of marketing leadership roles at organizations such as IBM, SAP, and Dassault Systems. Most recently, Sara was the CMO at Brightcove, the leading online video streaming platform.
Sara and I spoke about what she describes as the three digital marketing transformation pillars every organization needs in order to become successful in the face of significant change.
Marketing Transformation Pivot Before I reveal Sara’s three pillars, the word pivot warrants attention. This word is likely on the list of words that marketers didn’t anticipate we would use so much in 2020. The word is commonly used to define a slight change that ensures short term survival. This is exactly what many marketers thought 2020 needed, a slight change in the way we market our businesses.
But as the events of 2020 unfolded, we continued to see no indications that things would return back to its pre-COVID state. So, the word pivot was not only used to describe short term survival, instead, it was used to describe long term resilience and growth.
Most organizations have already gone through the first part which is ensuring short-term survival. For example, some businesses in B2C have adjusted for the short term such as bakeries pivoting to sell kits to bake at home and alcohol distilleries pivoting to make hand-sanitizers. However, these adjustments or pivots aren’t necessarily sustainable and we now need to think about how we pivot towards long-term resilience and growth.
Pillar #1 - How Relevant are you during this Marketing Transformation? Many organizations began to experience the reality that some customers didn’t view them as necessary or relevant in the “new normal.” As marketers, we need to understand that buyer’s needs have changed, and we must ask ourselves, is what we’re selling still relevant?
This is where marketers need to be aligned not just with sales but also with your product strategy. Sales can tell you what conversations they’re having with buyers. What are they looking for now? What are their highest priorities and where in their organization does your product fit in? This will help define how imminent a pivot will be from what you were doing before to what you need to be offering now.
We’ve always seen alignment as important but in the face of digital marketing transformation we see that it is more important than ever. Business continuity is also at an all-time high. For example, video messaging can sometimes substitute for those virtual meetings that your buyers may no longer consider as high-priority.
Pillar #2 - The Marketing Mix Has Fundamentally Change Interestingly, many of us can tell you the exact day, hour, and even minute when we realized back in March that our plans for the year were going to be turned upside down. When the COVID-19 outbreak has deemed a pandemic everything changed.
The most notable marketing pivot in 2020 centered around events and event planning. Most events have either been canceled or have gone entirely virtual. These new events
37 min