The traditional roles and responsibilities expected from the chief marketing officers are being upended like a stack of cards in the retail world. It's now more than driving the brand equity and merchandising strategy as part of winning the market share and charting out sustainable growth.
One of the key roles of retail CMO in the present digital age is to drive a sustained strategy that provides an intimate and engaged customer experience. Often this evolving strategy takes precedent over the traditional roles of CMO in the era of digital and disruptive marketplaces. In this age, CMO plays partly the role of a cheerleader and partly the role of a counsellor to impress upon a know-it-all customer.
Customer now has the opportunity to sift through merchandises sitting on the couch in the comfort of home, order online and get it within hours without leaving her home. In the context of such disruptive changes, it's not a hypothetical discussion, but rather a reality for retailers to take the retail experience to the customer any place, any time and by any means.
The changing landscape of the retail world forces CMOs to be innovative and disruptive, and pushes them to adopt a strategy aimed at understanding the customer psyche that may provide deep insight into how customer makes a buying decision. The recent spurt in hiring of retailers from consumer product companies to fill in the roles of their retiring CMOs is just the confirmation of this disruptive change.
The challenges posed by the disruptive changes to the retail world have created a unique opportunity for the retail CMOs to drive an Omni-channel strategy to deliver an all-pervading customer experience. It's all about an Omni-channel journey that a retail CMO has to formulate to win a new customer, retain an existing customer and help cement a bond of engaged partnership--instead of old strategy of deep loyalty--between a customer and a retailer. This is a journey that needs to be planned with an adaptable and agile execution strategy with measurable business goals.
One of the key roles of retail CMO in the present digital age is to drive a sustained strategy that provides an intimate and engaged customer experience. Often this evolving strategy takes precedent over the traditional roles of CMO in the era of digital and disruptive marketplaces. In this age, CMO plays partly the role of a cheerleader and partly the role of a counsellor to impress upon a know-it-all customer.
Customer now has the opportunity to sift through merchandises sitting on the couch in the comfort of home, order online and get it within hours without leaving her home. In the context of such disruptive changes, it's not a hypothetical discussion, but rather a reality for retailers to take the retail experience to the customer any place, any time and by any means.
The changing landscape of the retail world forces CMOs to be innovative and disruptive, and pushes them to adopt a strategy aimed at understanding the customer psyche that may provide deep insight into how customer makes a buying decision. The recent spurt in hiring of retailers from consumer product companies to fill in the roles of their retiring CMOs is just the confirmation of this disruptive change.
The challenges posed by the disruptive changes to the retail world have created a unique opportunity for the retail CMOs to drive an Omni-channel strategy to deliver an all-pervading customer experience. It's all about an Omni-channel journey that a retail CMO has to formulate to win a new customer, retain an existing customer and help cement a bond of engaged partnership--instead of old strategy of deep loyalty--between a customer and a retailer. This is a journey that needs to be planned with an adaptable and agile execution strategy with measurable business goals.
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