According to Accenture Strategy’s latest research: The C-level Disruptive Growth Opportunity, only 37% of surveyed CMOs view disruptive growth as very important to their marketing plan, but three in four say they control the levers that drive disruptive growth at their organizations. CMOs are missing the opportunity to generate new value for their business through disruptive initiatives.
Michael Brenner, CEO of Marketing Insider Group and former VP of Global Content Marketing at SAP shares an example:
Think Nike for leveraging its existing business model and market share to create a new business model with its launch of Nike+, which has offered more sales and profit potential. By mounting a chip under the sole of Nike shoes, personal workout statistics can be transmitted to a consumer’s digital devices for reviewing and tracking.
Consumers can also access the Nike+ platform for personalized coaching and training tips and even participate in friendly challenges with other online users who have connected their digital devices to the Nike+ platform.
Nike+ isn’t just about promoting and selling a new shoe, but launching a new digital platform that delivers new benefits to customers, which in turn creates new value and revenue for the business.
There are several things CMOs need to start doing to make their marketing strategy disruptive:
- Focus on an outcome over product or service
- Improve customer experience
- Tap into unmet needs and create new needs of the customer
Read Brenner’s original article and related infographic on Marketing Insider Group below.