In an era where digital disruption and consumer empowerment redefine the marketing landscape, the question of what truly keeps marketing alive is more pertinent than ever. For CMOs, board members, and senior industry leaders, the answer may be 3 things- the art of storytelling, the gravitational pull of consumer-centricity, and the emotional bond of brand love.
Basis my experience, let me talk about this a bit more bifurcated by —
CMOs as Chief Storytellers- Crafting Narratives that Resonate
In today’s hyper-connected world, where consumers are inundated with content, the role of the CMO has evolved beyond traditional responsibilities to become the chief storyteller of the brand. Storytelling isn’t just about crafting compelling advertisements—it’s about creating a cohesive and authentic narrative that resonates with consumers at every touchpoint.
Consider Marc Pritchard, Chief Brand Officer at Procter & Gamble, who has championed the use of storytelling to drive meaningful connections with consumers. Pritchard’s leadership in campaigns like “The Talk,” which addressed racial bias, demonstrated how powerful narratives could elevate a brand’s relevance in societal conversations. These efforts have not only garnered critical acclaim but also reinforced P&G’s position as a brand with purpose.
According to a 2023 study by Deloitte, 62% of consumers feel that a brand’s values influence their purchasing decisions. This statistic underscores the importance of storytelling in conveying these values and building emotional connections with consumers. For CMOs, the challenge lies in crafting stories that are not only engaging but also reflective of the brand’s core mission and values.
Practical Insight: In my opinion, CMOs must embrace their role as chief storytellers by developing narratives that go beyond product features. Instead, focus on the brand’s purpose, the consumer’s journey, and how the brand can make a meaningful impact on their lives.
Consumers as the Centripetal Force: Driving Marketing Strategies
If CMOs are the storytellers, consumers are the centripetal force that keeps marketing strategies focused and relevant. The shift from brand-centric to consumer-centric marketing has been a game-changer, placing the consumer at the heart of every decision. In today’s market, consumers are not just passive recipients of marketing messages—they are active participants who shape and influence brand narratives.
A recent report by Accenture highlighted that 91% of consumers are more likely to shop with brands that provide offers and recommendations that are relevant to them. This data underscores the importance of personalisation and the need for marketers to deeply understand their audience’s preferences, behaviours, and needs.
One standout example of consumer-centric marketing is Netflix. With its sophisticated algorithms and vast data-driven insights, Netflix offers personalised content recommendations that keep subscribers engaged and loyal. By prioritising the consumer experience, Netflix has not only disrupted the entertainment industry but also set a new standard for customer-centricity in marketing.
Practical Insight: For CMOs, the key to success lies in harnessing consumer insights to drive strategy. This means investing in data analytics, understanding consumer behaviour, and continuously adapting to meet evolving consumer needs.
Brand Love in Building Trust: The Emotional Connection
Brand love is more than just a catchy phrase—it’s a crucial element in building long-term consumer trust and loyalty. In an age where consumers have endless choices, fostering an emotional connection with them can be the difference between a one-time purchase and lifelong loyalty.
A 2022 study by Harvard Business Review found that emotionally connected customers are more than twice as valuable as highly satisfied customers. These customers not only purchase more but are also more likely to recommend the brand to others and are less price sensitive. This emotional connection is what marketers refer to as “brand love.”
Apple is a prime example of a brand that has successfully cultivated brand love. Through its consistent focus on innovation, design, and customer experience, Apple has built a loyal following of consumers who don’t just buy products—they buy into a lifestyle. This brand love has translated into unparalleled customer loyalty and a strong sense of trust.
Practical Insight: CMOs should also prioritise building brand love in pursuit of delivering exceptional customer experiences, maintaining consistency in brand messaging, and staying true to the brand’s values. Building this emotional connection will not only foster trust but also create advocates for the brand.
At the end of this piece, I’d say as the marketing landscape continues to evolve, these three elements—storytelling, consumer-centricity, and brand love—remain the lifeblood of successful marketing strategies. CMOs and senior leaders must recognise that these elements are not static; they require continuous nurturing and adaptation to stay relevant in a rapidly changing environment. Reflecting on these principles, it’s clear that what keeps marketing alive is not just the tactics or tools we use but the ability to connect on a deeper level with consumers. It’s about telling stories that matter, data experiments driven by both data and heart, strategies around the consumer, and cultivating brand love that endures.
The views and opinions published here belong to the author and do not necessarily reflect the views and opinions of the publisher.
Extending beyond academia; Ankoor has been honoured with the "CIRCLE OF EXCELLENCE 2024" award by Passion Vista and recognized as the "MAN OF EXCELLENCE, 2024" by the prestigious Indian Achievers' Award. Additionally, he received the "LEADER 2.0 AWARD, 2023" from adgully and was named a "DIGITAL KAIZEN LEADER by DigiAdCon 2024”, Dr. Dasguupta's contributions to the field of marketing are widely acclaimed, marking him as an inspiring thought leader in his domain. Ankoor is also a member of IMA India’s CMO Forum.
Most recently Dr. Dasguupta has been selected and felicitated with the national level award -Dr. A.P.J Abdul Kalam Inspiration Award 2024 in the category Youth Icon of the Year.
Dr. Dasguupta is a key member of the esteemed International CMO Council and keeps delivering lectures at top Business Schools and also colleges at University of Delhi. As an industry expert, Ankoor has also been a member of the interview panel at MICA for their PGP Group Exercise & Personal Interview PI process for PGDM-C/PGDM selection for two consecutive years. Dr. Dasguupta is also on the Advisory Board of the Marketing Department at ISBR Business School, Bangalore. Recognized by DMA Asia as a marketing Ace, Dr. Dasguupta is a LinkedIn Top Voice, advocate of social impact, driven by kaizen, Ankoor believes in the power of Energy and Energize
Dr. Ankoor is practicing his PCC (Level 2) coaching from the gold standard International Coaching Federation [ICF]. He is a people's person and has worked across functions in senior leadership positions in marketing, advertising, media & communication with a pedigree of 24 years and ongoing exciting journey. Trained from Dale Carnegie in Mentoring to Develop Talent, Ankoor is a marketing practitioner, a coach, a knowledge manager, a team builder, a thought-leader, an avid writer with close to 100 published articles / interviews and is a Thought Leader. Dr.Ankoor wears the hat of a CMO as well. His leisure pursuits are reading, effective listening and percussion. Follow Dr. Ankoor Dasguupta on LinkedIn| https://www.linkedin.com/in/ankoordasguupta/
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