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Our perspective: Frances Yu
Frances Yu, a Deloitte Consulting LLP director, provides her perspective on the future of marketing and the skill sets CMOs should have to be successful.
How is the role of the CMO changing?
The future for CMOs is about navigating through organizations as a customer custodian and the growth champion, by steering change within the C-Suite. Disruption by globalization, digitization, and brand shifts are changing the CMO’s role.
Given their changing role, on what kinds of skills should CMOs focus?
For tomorrow’s CMOs, two skills are important. Number one is the ability to make change happen. That means CMOs should be influential in the C-suite, bringing together a diverse group of people with different skills and different backgrounds, to build a shared frame of reference for the customer.
Number two is being able to take advantage of the intersection of marketing, creativity, technology, and strategic insights. CMOs should shape the assets for their business—the customer, the data, the channels, and platforms—to take advantage of the organization and its brand.
What is the future of marketing?
The future of marketing is about curating a path for consumers. CMOs should strive to win the hearts and minds of consumers by bringing the creativity, strategic insights, and technologies together to help tell their brand stories. When you can articulate those stories in a compelling and simple manner to tug at consumers’ hearts and minds, you demonstrate an understanding of their wants and needs. Consumers are attracted to brands with whom they can identify and develop a connection.