3 Core Components of Global Marketing Fluency
In the effort to develop global marketing fluency, today’s marketers are confronting new strategic obstacles. Mobile, social, and software are changing the game for global brands. More than ever, global brands must re-think how they will communicate with customers according to the technology medium used. Chris Bolman, director of growth at Percolate, outlines the shift in “Five New Challenges for Tomorrow’s Global Marketing Leaders.”
A “global hub-and-spoke brand system” is increasingly important. As Bolman points out: “Cross-regional team collaboration is a key element in success global marketing orchestration…Being able to take an activation that’s successful in one market then tailor and re-deploy it to other strategic markets like Brazil or India has increasingly become a critical capability for global brands.”
As successful collaboration across different teams and stakeholders becomes more urgent, technology will be the tool to help marketers over the hump. Specifically, predictive analytics can help cross-regional teams understand where their buyers are and what they need by allowing distributed teams to see a full-funnel view of customers and prospects.
Bolman also identifies the Internet of Things as a key catalyst in the global marketing conversation: “Smart, connected products will allow marketers to form new kinds of marketing relationships, while also gathering new data and insights on customer preferences and behavior. Leveraged strategically, connected products will enable more personalization of marketing messages, better product storytelling, and a more inspired, immersive customer experience.”
With the Internet of Everything expected to increase by nearly 500% over the next five years, it’s all about understanding your range of buyers in order to have the most in-touch marketing messages, storytelling, and customer experience. This means the more customer visibility and preference/behavior insights you are able to gain, the better your global marketing will be.
Finally, the next generation of global marketing calls for new talent and team structure. “The evolving speed and complexity in modern marketing is making it harder for CMOs to staff teams of generalists,” says Bolman. Consequently, marketing leaders will be forced to organize and reeducate expertise around different key competencies. These new core qualities will revolve around areas like data analytics, analytics and cross-channel attribution, as well as marketing technology evaluation and integration.
The global economy is rapidly evolving, and these three factors will play a critical role in marketing strategy as marketers adjust: a global hub-and-spoke band system, the Internet of Things, and a reinvention of talent and team structure. Within these factors, marketing technology, data analytics, personalized messaging, and maximized customer insights will play an important role in implementing effective strategies. Innovating in these areas will elevate the top global marketers from the rest of the pack.
Chris Bolman’s article “Five New Challenges for Tomorrow’s Global Marketing Leaders” was originally published on Forbes. Click here to read the full article.