Staying ahead of the changing modern market is an uphill struggle for the modern day CMO.

As you know, marketing platforms come and go as often as the hungry neighbourhood cat. Customers flock towards the hot new trend then, in rapid succession, they’re on to the next TikTok-endorsed online storefront.

Combine that with emerging tech, old habits dying hard, and outpacing the competition (not to mention all the other hats you’re wearing as you read this), the challenges begin to stack up.

At our recent EU CMO Summit, Harry Williams , Head of Growth at Found, discussed the ever-changing marketing landscape and the challenges facing modern marketing officers.

Modern Marketing

CMOs need to embrace change to reflect the evolving needs of their consumers. So, the marketing strategies of yesteryear just won’t cut the mustard anymore. You could have a masterpiece of a campaign from the early 2010’s, but that doesn’t mean it’ll hold up in today’s market.

But why? Why can’t CMOs rely on tried and tested methods?

Same Demographics, Shifting Attitudes

In this digital age, the customer journey is becoming less linear, thanks to an abundance of touch points along the purchasing path. Newer generations have grown up on the internet, making them savvier to ingenuine sentiment and shameless sales pitches (something we have explored before). Although this may sound like a major challenge, it actually opens up a world of opportunity.

First, though, understanding how customers are changing is the priority.

The New Consumer Needs

They Seek Personalized Experience

As any data and research will tell you, no two consumers are the same. Yes, while there may be similarities, a copy and paste marketing campaign won’t have the desired effect.

Because of AI, data leveraging, algorithms, and advances in CX, customers now expect a tailored experience. By using the latest tools in your arsenal, you’re able to build marketing strategies and refine them by personalizing them, turning casual users into die-hard fans.

Community at the Forefront

To truly cultivate a community, you need to do more than just start marketing a new product and expect people to buy in.

Customers have plenty of choice. Soft drinks to watches, vapes to vests, there’s no shortage of options whatever you’re shopping for.

The brands that provide a community for their customers are easy to spot. Harley Davidson, Lego, Nike – all of their fans are hardcore, and for good reason. While customers are buying into a product and brand, it presents itself as a lifestyle, building community in turn.

Prepare for the Future

While it’s easy to get lost in the here and now of marketing, to truly withstand the test of time you need to prepare for future market shifts.

None of us can accurately predict the future, but by investing in product R&D, keeping tabs of emerging platforms, and staying on top of social issues, you can arm yourself for tomorrow’s campaign.

Our upcoming CMO-focused Summit is set to focus on challenges CMOs face daily. If you would like to attend, register on our website.