A thread breaking down CMOs predictions for 2023 sourced from @adweek @BrandInnovators @wsjCMO

🔮 CMOs are predicting that 2023 will bring a willingness to take bigger risks while also sticking to tried-and-true methods.

💼 "I'm standing up an inbound-only portion of our commercial organization. This new team includes SDRs, AEs, AMs, and all the way through dedicated customer success managers." - Orlando Baeza @FlockFreight

💭 "In this environment, marketers’ top concern is making sure their teams can respond on a dime to whatever situation is thrown their way." - @LaraHBalazs @Intuit

💸 "Marketers who invest in brand development despite the bumpy economy could benefit in the long run, but many will struggle to get budgets approved." - John Solomon @therabody

🚀 "I’m thinking about how to rebalance investments between demand generation and product marketing as well as the brand. It is also a moment to introspect and invest in the brand for its relevance and longevity." - Tiffany Xingyu Wang @OpenWebHQ

🌟 "We need to rethink brand spend and how can we bring brands to life through less green dollars and maybe more owned and earned." - @dckarkos

📱 "We're focused on storytelling, leveraging social media, and driving KPIs using more targeted, digitally focused marketing." - @karintimpone  @MLB

 🎯 "Audience centricity is key for competitive advantage and greater ROI on all your marketing activities."   -  @daratreseder @autodesk
 💼 "Ensure you scale things appropriately and be a business leader, not just a marketing leader." - @soyonyc @eos

🍺 "As seen in the 2008 recession, expenditure in cheap thrills categories will increase as consumers seek immediate and low-cost ways to relieve distress." -   Mitchell Cooper (Whirlpool Corporation)

💸 "Brands will have to redefine the consumer value equation as wallets will be increasingly stretched." -Cory Sexson (Tropicana Brands Group)

 💼 "The growing importance of authentic, value-driven brands will be the catalyst for many changes including 'Customer Service as Marketing'."  - Rae Wang @DairyQueen

🍔 "Companies are looking to improve customer experience through a better understanding of their customers." - Bryce Boothby @McDonalds
🕹️ "The metaverse is not going anywhere, it's about using it authentically." - @AmyChoyne @usta

🍩 "Brands will team up to provide something truly unique and desirable for consumers." -  Michelle Wong @sprinkles

🔮 CMOs are sharing their predictions for 2023

🚨🚨Attention all businesses🚨🚨

Building a brand is crucial for long-term success. In fact, a strong and consistent brand can increase the effectiveness of short-term performance marketing. But how much should you invest in building your brand?

Here are a few things to consider when determining your marketing budget:

1.  Your competition and share of voice
2.  Brand health
3.  Business benchmarks (ad spend-to-revenue ratio, NPS, LTV/CAC ratio)

By analyzing these areas, you can determine the "spend zone" that aligns with your business goals. There isn't a one-size-fits-all answer, but you can figure out the range that is right for you.

Remember: building a brand takes consistent communication over a sustained period of time. Don't skimp on investment – it pays off in the long run! 💰💰💰

Want to dig in more from @BRMURPHY @ForbesBizCncl 📖 ➡️
https://www.forbes.com/sites/forbesbusinesscouncil/2023/01/05/building-a-business-case-for-brand-investment/?sh=789b4d76201e

Building A Business Case For Investing in Your Brand

🧵 Change in a Corp Env't isn’t easy but it’s worth the work. Kevin Nitz, Head of Non-Alcoholic @MolsonCoors gives 4 ways to drive change in any heritage brand. 📖 the full article ➡ t.ly/B9Y8 🧵⬇

1. Know your business.

Get to know the full extent of your business to better anticipate the different aspects of any given business problem.

2. Discover your customer.

The root of every business problem is a human one. Curiosity about your customer will help you understand what decisions they’re facing & position you as the solution.

3. Create muscle memory for change.

Change isn’t easy, especially when you’re used to working the same way & making the same product for generations. Practice new-ness by doing it often, first by making small changes then scale up.

4. Be patient with your decisions.

Once decisions are made, follow thru. Give things time to cycle through & deliver, being mindful of the need for course-correction. If you cut it too soon, you undermine any meaningful structural, operational and cultural change. See rule 3.

An Interview About How Heritage Brands Can Drive Their Industries

How to succeed in fintech marketing?  @NobleDigitalOne @martechismktg with a breakdown of the role fintech marketing plays today. 🧵 ⬇️

The goal is to build a brand, generate demand, and increase market share in an industry expected to reach $698.48 billion by 2030.

So how do you do that?

1/5 Set Your Data Strategy - segment your customers into audiences you expect first and then use user profiles to get ultra-specific concerning the key problems you solve.

2/5 Focus on Mobile Users - Your bulk of customers transact on mobile devices. Fintech applications have to be engineered for seamless experiences.

3/5 Create Valuable Content - Good content marketing educates your audience. Good content marketing educates your audience on how you solve pain points

4/5 Differentiate your brand - Identify your unique selling proposition and use that to drive your brand narrative.

📖 more 👉 https://twitter.com/wearedendro/status/1562094318046699520?s=20&t=Ge0o4LCs4DLnAiwSGYeYHQ

5/5 Tap into Cultural Trends.  Fintech/bank collaborations, sustainability, IoT, and AI are all playing a role in customer decisions and brand loyalty.

How to Succeed in Fintech Marketing Today And Beyond

#LandscapeShift How Today's Emerging Real Estate Brands Could Redefine the Market For Generations.

We are seeing a seismic shift in how and where we live. The companies that are emerging in the space address the needs resulting from the hybrid work culture.

https://twitter.com/wearedendro/status/1478408599265153024?s=20&t=oM2a9-xqUqoU9qDdc4yIFQ

Brokerage firms are increasingly repurposing commercial spaces into residential. t.ly/icU8

New ventures like Flow & @HelloLanding have the potential to revolutionize the world’s largest asset class.

Can we evolve an entire asset class or is this just going to make the prospect of perpetually renting more palatable?

The silver lining on this erratic real estate market is that crises are often an abundant source of innovation for society’s most conservative industries.

📖  6 of The Dendro Grove for more on the homeownership shift ➡ https://wearedendro.com/dendro-grove-newsletter/vol6-0922

Today's Emerging Real Estate Brands Could Redefine the Market For Generations

✨It's Time to Modernize the Marketing Dept✨
We’ve identified 5 actions that we believe can help marketers achieve success. 
🔗 https://wearedendro.com/modern-marketing-org
🧵👇 

1/5 
Set marketing as the organization’s strategic heartbeat.

Companies are now leaning more heavily on the power of marketing to drive maximum business efficiency and revenue growth. As such, many CMOs & CBOs are increasing their control over strategy & operations.

2/5
Shift from volume to value-based measurement.

Many are starting to shift the focus on understanding the quality of engagement and the impact on ROI. Focusing exclusively on performance-based metrics runs the risk of missing what creates and perpetuates quality relationships.

3/5
Build on trust as the new social currency.

Building emotional responses has a 3 to 1 impact on 'intent to buy' versus what’s in the ad itself. Brands would do well to leverage this growing trust and build on it with a focus on developing and deepening emotional connections.

4/5
Leverage digital ecosystems to tap into value.

21% of CMOs say that digital marketing contributed to their company’s performance in 2022 to a high degree.


5/5
Operationalize a hub and spoke model.

Blending data and creativity continues to be the “secret sauce of the most successful brands. This requires moving to a more fluid and agile-based system with less hierarchy and more cross-team integration.

Modernize Your Marketing Strategy & Marketing Department

How do you plan for the long-term in the midst of short-term thinking?🤔 

@Bill_George says that those that take the time to identify their True North, who prioritize long-term value creation over short-term profits, consistently come out on top.

Don't let short-term ROI come at the expense of your long-term brand.

GM’s @mtbarra, Vimeo’s @anjsud & Best Buy’s @Corie_Barry each took crises as an opportunity to reinvent.

They took steps to control the brand narrative, shore up perceived weaknesses and align any gaps.

'We' leaders have a talent for building grade-A teams and coaching them to deliver the highest standard of product and customer experience and ultimately, long-term financial success.

@Bill_George model for leading with authenticity maps out the keys to success. 

Planning for the Long-Term In the Midst of Short-Term Thinking

What should CMOs keep in mind when seeking to transform their brands?

Whether your ambitions are big or incremental here are 5 things to keep in mind. 🧵👇   🧠@BRMURPHY

1️⃣ Clear Ambition: Brand change requires a clear vision and understanding of the organizational assets - people, priorities, and processes - required to make it happen.

2️⃣ Alignment Ensures Action: Successful CMOs show how their transformation plan ladders to the business.
https://twitter.com/richardnugent/status/1366818521452318720?s=20&t=t8Y1_we1MRmQWvyaOXl7rw

3️⃣ Involvement Inspires Support: Make your team a part of the plan and give them ownership of it so they can be an author of its success.

Success requires that business, technology, product, and marketing act as partners. 

4️⃣ Growth Mindset Leads to Growth: Ambitions to grow the brand should bring about transformational change.

The End Result is more than marketing ➡ The potential to launch new products and services, expand distribution channels and change behaviors.

5️⃣ People & Processes Enable Purpose: Integrating and acquiring new capabilities is often critical to making your tangible moves successfully.

Read the full article on @Forbes for additional transformation agenda insights t.ly/zIvC & tweet us your thoughts on driving the change you want to create.

5 Steps To Enable Brand Transformation

"Brand equity empowers founders to negotiate for a higher purchase price, which translates to increased value from a merger or acquisition." - Chris Shipferling of Global Wired Advisors on the benefits of brand building via @forbes

Developing an enduring brand is a long-term strategy worth pursuing.

Brand building is an incredibly powerful tool—and one that companies can’t afford to overlook. 

The Benefits:
1. In a crowded market brand building can boost conversions, translating to sales.
2. As the lifecycle of brands becomes increasingly shorter,brand building can have a lasting impact on sales velocity, growth, & business valuation.
📖 t.ly/2-5t

Investing in Brand Building is Worth The Investment

Having a Clear Brand Strategy is Crucial for Sustainable Growth🙌 

Without a brand strategy, businesses cannot determine whether their brand is moving in the correct direction.

Here are some ways in which brand strategy helps business growth. 🧵⬇️ 

1/3
- It's a tool to focus on long-term brand growth to achieve pre-defined business goals.

- In a downturn economy a strong brand can give you a competitive advantage.

- The more consistent a brand, the easier it is to interact with customers.

2/3
- Customer trust increases with a consistent brand experience.

- Earning customer trust is easier with a brand strategy that connects company goals to customer needs.

- Brand strategy helps a company stay aligned to a core vision.

3/3
- Creates efficiency in all marketing activities by providing a filter for what is right and what is a waste. 

- Increases a company's valuation.

- Serves as a filter for brand expansions and new products or services.