Our partners at the CMO Council just released a report on the level of market centricity of their organizations and it is clear there is a lot of work to do in this area. See the message from Donovan Neale-May, the Executive Director below:
“How do you rate the state of customer and market responsiveness at your company? For CMO Council members who have taken the “Market Sense-Ability Audit,” the combined grade is a “D” or worse. CMO Council members express serious reservations about the level of both customer and competitive readiness in their organizations.
Make sure to read this new paper analyzing the responses of senior marketers who participated in an audit that is used by many companies to benchmark market- and customer-centricity across their organizations.
Visit our Market Sense-Ability Center to download the report, and learn how other senior marketers grade their companies’ performance.”
In an article entitled Seven Winning Tactics During a Downturn, MarketCulture chairman Linden Brown outlines some tactics to use during a downturn that help grow market share and improve the value your company provides its customers. Chief among them:
- Take another look at your firm’s mission. How well does it emphasize your customer?
- Reconsider the team you have in place, and trim only those that don’t provide customer value. Across the board cuts miss this point.
- Spend more time researching your customer and the competition.
- Price strategically. Resist the urge to drop prices.
Be aggressive during a downturn and focus your team’s energy where it needs to be: On building profitable consumer value.
See other articles on our Publications page.
Corporate culture comprises the attitudes, experiences, beliefs and values of an organization. It can be measured, it can be focused around the customer through training and focused efforts.
This is the premise behind our new article published in the IndUS Business Journal. I for one am very proud to be represented in international business journals, given the wide range of business cultures around the world and the significant impact culture has on business performance. Based on what the research tells us, it is one of the most important drivers of your firm’s success or failure.
Fostering a strong market culture in an organization makes sense, yet most CEOs don’t see this as an important competitive advantage and something to:
- Instill at all levels of the organization
It takes a well conceived and articulated strategy to build and maintain a strong market culture in any firm, large or small.
We have an article published with the CMO Council in the December 2007 issue of Marketing Magnified.
Our team, led by Chief Value Delivery Officer Sean Gallagher, highlights the importance of culture on business performance and why it’s more important than CRM, Marketing Performance Measurement, and other popular marketing tactics including *gasp* blogging.
In essence, evidence shows that organizational culture is hugely correlated with profitability metrics. Most people in business know that strong marketing skills are needed to bring in new business and maintain satisfied customers, but not many folks are aware of how their firm stacks up.
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