Late last week, I published my biggest piece of research yet at Forrester, called “Reinventing The Marketing Organization.” Here’s the executive summary:
Today’s marketing organizations are broken. Three out of four marketing departments have reorganized in the past two years. Almost 80% of marketers don’t influence a critical customer interaction like customer service, and 85% don’t even own the “four Ps” of marketing anymore. To regain effectiveness, marketers must transition to a Customer-Centric Marketing Organization. Doing so requires:
1) redesigning P&Ls and metrics;
2) shifting culture away from marketing communications;
3) investing in a customer relationship infrastructure; and
4) rethinking agency relationships.
One of my favorite concepts that ended up on the editing room floor: the marketing mix is fine – tactics may change (e.g. branded entertainment or social computing) but strategic principles remain the same (e.g. relationship building and consumer engagement). However, the traditional model needs to be expanded to incorporate a 5th “P”: Participation.
Unfortunately this isn’t PGM (i.e. Pete Generated Media), so I can’t give it away for free – but if there are particular points you’re interested in discussing from the summary or otherwise, feel free to comment or drop me a line!