Marisa Mulvihill: Senior Partner | Prophet https://prophet.com/author/marisa-mulvihill/ Mon, 19 May 2025 22:41:17 +0000 en-US hourly 1 https://prophet.com/wp-content/uploads/2022/05/favicon-white-bg-300x300.png Marisa Mulvihill: Senior Partner | Prophet https://prophet.com/author/marisa-mulvihill/ 32 32 What Forward-Thinking Brands Revealed About Growth at ANA’s Brand Masters “Revolutionaries” Conference https://prophet.com/2025/05/2025-ana-brand-masters-conference-recap/ Thu, 15 May 2025 18:04:24 +0000 https://prophet.com/?p=36369 The post What Forward-Thinking Brands Revealed About Growth at ANA’s Brand Masters “Revolutionaries” Conference appeared first on Business Transformation Consultants | Prophet.

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What Forward-Thinking Brands Revealed About Growth at ANA’s Brand Masters “Revolutionaries” Conference

Prophet highlights learnings from leading marketers and modern brands on integrating culture, creativity and performance for long-term business growth.

As we announced recently, Prophet is now the founding and flagship sponsor of the Association of National Advertisers (ANA) new Brand Practice. Given our new partnership, we showed up in forces at the ANA’s Brand Masters “Revolutionaries” conference, held May 7-9 last week in Los Angeles. 

Marisa Mulvihill, who leads our CMO practice, hosted a breakfast with research partner WARC on brand and demand integration; Mat Zucker, our own CMO, spoke on stage about the opportunity in gaming for brands with Ashely McCollum, head of immersive media solutions at Roblox; and Prophet also provided every in-person attendee with a copy of our Vice Chair David Aaker’s Aaker on Branding, Second Edition released that week, giving them the first copies available in America.

This year’s conference was exciting and showcased lessons from brands that are not often heard at national conferences. Over three days, ANA’s EVP Brand & Media Stephanie Fierman and team curated an experience for in-person and virtual attendees, in which, as she explained, “bold, innovative brands take center stage, breaking boundaries and redefining what it means to be a modern marketer.” In addition to Roblox, other presenters came from brands such as True Religion, Poppi, Converse, Saatva, and Target. Topics addressed the brand from every angle, including expanding the case for the brand, brand success at different stages of maturity, and the challenges marketers consistently face, such as brand measurement.  

A Few Session Takeaways from Propheteers in Attendance: 

  • Allison Ellsworth’s story with Poppi showed how bold innovation, paired with culture-first, authentic marketing, can revive even the most stagnant categories. By reimagining soda as a functional, better-for-you product, Poppi disrupted the beverage industry and secured a significant deal with Pepsi.  —Clare Conroy
  • Aki Spicer of Monks and Danielle Spikener of KraftHeinz discussed the organic process of “flirtation through activation” that led to the breakthrough partnership between DJ Mustard and Heinz mustard. Capitalizing on the rap beef between Kendrick Lamar and Drake, Heinz moved quickly to tap into the cultural movement by promoting the authentic partnership between the beat-making grill connoisseur and the legendary condiment company. —Danny Pomerantz 
  • Emily Sly at Popsockets spoke about building a brand to maintain growth. She talked about the need to build the brand to extend beyond the successful product. She shared their brand purpose: Bringing radical positivity to our tech relationships. —Mat Zucker 
  • In a session about brand-led growth and the C-Suite, Audible CFO Cynthia Chu adopts an investment mindset, viewing marketing as a strategic asset rather than a cost center. She recognizes the importance of building trust between marketing and finance by setting aside her functional hat and adopting an enterprise perspective. For measurement, she doesn’t let people use bottom-funnel metrics to measure upper-funnel activity. Find other ways to do it, such as a brand lift study. Some are hard, she knows. They have a category called “feels right” for channels like experiential, which can be tough to measure. Instacart’s Laura Jones got rid of having a separate brand budget and a separate performance budget and collapsed them together. —Mat Zucker 
  • Joe McCambley spoke to Saatva’s in-house transformation and proved that brands can achieve greater efficiency and creative excellence by building internal teams deeply immersed in the product and customer. With the addition of a creative-only home studio and repositioning the brand for a re-defined target audience known as the “Research Junkies”, Saatva unlocked more focused, impactful storytelling.  —Clare Conroy 
  • Tim Parr, inspired by our own David Aaker’s frameworks and stories, explained how a laser focus on the underserved needs of aging Gen Xers enabled the huge growth of Caddis. Building a brand around “aging awesome”, creating a new category of “eye appliances,” and making the product sexy, stylish, and cool has earned Caddis an enviable price premium. —Marisa Mulvihill 
  • When Target rolled out its Holiday 2024 campaign, little did they know how the public would react. Target tells the story of what started out as an innocuous and updated Santa, who went incognito as Kris K, a Target employee, turning viewers on their heads when they all concluded that he was handsome, titling him “Hot Santa.” Target decided to roll with it, using their follow-up ads, which caused a viral internet sensation that appeared on primetime TV shows like The Tonight Show. It was a glimpse into a large company being caught off guard, bending to public response, and pivoting to a more humorous campaign theme versus the original holiday intention of family and the warmth of the season. —Kristi Yover 
  • Not from a brand, but certainly an inspirational expert and best-selling author, Dr. Marcus Collins discussed making meaning through our culture. “We see the world because of who we are.”  Marketers don’t make meaning. We signal it.” —Mat Zucker  

Prophet is partnering with the ANA to help marketers elevate brand as a strategic growth and performance driver. We’ll be focusing on developing tools and insights to position brand as a measurable business asset, integrating brand and performance marketing, advancing brand ROI frameworks to support marketing intelligence and C-suite decision-making, breaking down silos to unify brand, media, and performance teams and enabling agile, journey-based strategies rooted in audience insights.


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Seven Growth Moves for Marketers in Uncommon Times https://prophet.com/2025/05/seven-growth-moves-for-marketers-in-uncommon-times/ Mon, 12 May 2025 16:19:42 +0000 https://prophet.com/?p=36232 The post Seven Growth Moves for Marketers in Uncommon Times appeared first on Business Transformation Consultants | Prophet.

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Seven Growth Moves for Marketers in Uncommon Times

Seven bold moves to help marketers lead through uncertainty and unlock uncommon growth—no matter the conditions.

You might be feeling the squeeze. 

From one side, there’s inflation, tariffs, planning whiplash and fragile consumer spending. From the other, it’s pressure to grow despite fewer resources and sharper scrutiny of every investment. 

And in the middle of it all? You—the Chief Marketing Officer. 

Meanwhile, AI is rewriting the rules of marketing—redefining what customers expect, changing how teams work, and fueling a new era of marketing mayhem. Our report, The Rise of the AI-Driven Consumer, puts it all out there.  

You’re driving near-term ROI and long-term relevance. Keeping teams energized through high-pressure deadlines. Working around and through the constraints of legacy systems and trying to figure out what emerging tech can do for your business. And doing it all with clarity, confidence and composure in the face of intense pressure to show measurable results. 

But here’s the truth: these uncommon times aren’t all that uncommon. Consider just the last few decades—global conflicts and cultural tensions, a global pandemic, the global financial crisis, and the dot-com crash and well, you get it. If anything’s predictable, it’s instability. 

Now take a breath. The good news is that we’ve been here before. And every era of uncertainty offers disproportionate growth on the other side—growth that sparks the next wave of disruptors. Need proof? Check your phone and you’ll see some of them: PayPal, Spotify, Uber, Calm. 

Our take? There’s no sense waiting for stability. It is better to start leaning into the goal of Uncommon Growth, no matter the macroeconomic conditions. Because that’s how Uncommon Growth happens. It’s breakthrough, repeatable, market-leading and category-shaping growth that’s rooted in clarity, relevance, and resilience—and not at all dependent on perfect conditions.  

So how do brands unlock Uncommon Growth in uncertain times? It starts with action—clear, purposeful, and well-timed. Because while growth is easier in the “easy times,” waiting for them is a losing game. The best brands don’t pause. They move with intent, agility, and confidence. And they’re rewarded for it.

We’ve outlined seven moves—shaped by our work with clients across market cycles—to help you grow not in spite of uncertainty, but because of it.

Driving Uncommon Growth 

Uncommon Move 1: Focus on Clarity, Not Certainty

You can’t predict what’s next. But you can make it clear where you stand—and where you want to go. 

  • What this means for the business: In moments of ambiguity, a clearly articulated purpose, brand positioning and strategic direction give your teams a relatable, sustainable north star. Clarity fosters faster and more confident decision-making. 
  • What this means for the people: Employees don’t expect perfect answers, but they do want to know the why behind the what. Transparency and consistency reduce anxiety, build trust and boosts engagement and commitment across teams  

Uncommon Move 2: Integrate Brand and Demand

This isn’t a time to pick sides—it’s a time to orchestrate both to work harder for you. 

  • What this means for the business: Resilient growth comes from integrating long-term brand equity with proven demand tactics that drive revenue in the near term. CMOs must bridge silos, build shared KPIs and optimize both engines in parallel. 
  • What this means for the people: Marketing teams often feel pulled in opposite directions. Help them see how their work contributes to a connected system, not just a single, standalone workstream. Our Brand and Demand playbook shows how you can make it happen.   

Uncommon Move 3: Invest in Experience—Even While Cutting Costs

The first instinct is often to trim the surface. But the right move is to protect what your customers and employees actually feel.  

  • What this means for the business: Prioritizing investments in experience lens means protecting the “moments that matter”—the key touchpoints that deliver real value and reinforce key brand equities. More intelligent prioritization builds loyalty without overspending. 
  • What this means for the people: Experience budget cuts often impact people first. Involve teams in reshaping the most meaningful experiences. Empower teams to simplify and refine, not just scale back. 

Uncommon Move 4: Double Down on Employee Engagement

In uncertain times, your people need more than direction—they need care, communication and a reason to believe. 

  • What this means for the business: Attrition is expensive and damaging in moments of instability. A strong employee valuable proposition, flexible policies and visible leadership help retain talent and maintain momentum. 
  • What this means for the people: As people navigate volatility in their own way, flexibility, empathy and purpose-aligned leadership help them stay motivated and committed. 

Uncommon Move 5: Plan for What-if, Not Just What is

When uncertainty is the norm, scenario planning can be an optimistic, forward-looking growth strategy—not a defensive risk exercise. 

  • What this means for the business: Smart CMOs are pressure-testing plans against multiple futures, so they can move quickly and pivot nimbly when conditions shift. Scenario planning isn’t about predicting perfectly. It’s about being ready. See our approach for Scenario Planning in Marketing.
  • What this means for the people: Your team doesn’t need certainty. They need to know there’s a plan. Exploring a range of scenarios can give people confidence and a sense of control—especially when everything’s in motion, all at once. 

Uncommon Move 6: Embrace the Unfamiliar

Creativity often thrives within limits—and uncertainty can open the door to your next great idea. 

  • What this means for the business: Disruption often creates whitespace—nimble teams can spot it and move first by testing new formats, tools, partnerships and messages.
  • What this means for the people: Trying something new can make people feel vulnerable. Normalize experimentation, celebrate smart risk-taking and make it safe to stretch. 

Uncommon Move 7: Experiment Small to Win Big

Quiet innovation becomes a superpower and speaks volumes in times of uncertainty. 

  • What this means for the business: In turbulent times, smart CMOs run small, fast experiments to reduce risk and build momentum. Innovation doesn’t need to be loud if it’s fast and focused.
  • What this means for the people: Testing new ideas can energize teams and clarify what works. Small wins start a virtuous circle of forward progress and rising confidence. 

FINAL THOUGHTS

Even in the most turbulent times, some companies manage to achieve and sustain growth. Some even manage to unlock uncommon growth.  And while growth has always favored the bold, bold doesn’t mean reckless. It means clear thinking over knee-jerk reactions. Zooming out for the big picture. Acting with intention, clarity and confidence, not fear and hesitation. We help businesses and brands do that every day. Talk to us. 

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Building a Strong CEO Brand: Strategies for Elevating Thought Leadership  https://prophet.com/2025/04/building-a-strong-ceo-brand-strategies-for-elevating-thought-leadership/ Thu, 10 Apr 2025 02:33:28 +0000 https://prophet.com/?p=36055 The post Building a Strong CEO Brand: Strategies for Elevating Thought Leadership  appeared first on Business Transformation Consultants | Prophet.

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Building a Strong CEO Brand: Strategies for Elevating Thought Leadership 

A CEO’s personal brand isn’t just about visibility—it’s a strategic driver of trust, differentiation and long-term business growth. 

The Power of a CEO’s Personal Brand 

In today’s business landscape, a CEO’s personal brand is more than just a reflection of their leadership—it’s a strategic asset that influences company success, investor confidence and market differentiation. Thought leadership, when effectively leveraged, can enhance a CEO’s authority, build trust with key audiences and unlock new business opportunities. 

Recent studies reinforce this trend. According to PR firm APCO Worldwide, 77% of adults say a CEO’s reputation impacts their willingness to invest in a company. Another study by Harris Poll found that investment in CEO thought leadership yielded a 14x ROI. These insights highlight the growing importance of personal branding—not just for Fortune 100 executives, but for leaders across industries looking to drive uncommon growth. 

Why a Strong CEO Brand Matters 

At Prophet, we’ve successfully implemented thought leadership strategies for C-suite leaders across industries, from commercial property insurance to data management firms. Our work has demonstrated that a well-crafted CEO brand can: 

  • Enhance brand authority and credibility 
  • Strengthen customer and investor relationships 
  • Attract and retain top talent 
  • Differentiate the company in a competitive marketplace 
  • Maintain brand visibility, particularly in times of economic uncertainty 

Unlocking Thought Leadership Potential 

A CEO’s personal brand should complement existing brand and marketing efforts while creating an authentic and compelling leadership presence. The CEO brand should complement the organization’s brand either through direct alignment or through complementary attributes to create a consistent presence in the market. Thought leadership provides CEOs with a platform to share their unique perspectives, positioning their company as a category leader and increasing market influence. During periods of market volatility, a visible and confident CEO can reinforce stakeholder trust and sustain brand momentum. 

The Action Plan for Thought Leadership Development 

Developing a CEO’s thought leadership requires a structured, multi-step approach. Below are key actions to take: 

1. Audit Current Presence & Study Industry Leaders 

Begin by assessing the CEO’s current digital footprint, media presence and industry influence. Analyze social media activity, press coverage and public speaking engagements to identify strengths and areas for improvement. Comparing against other industry leaders can provide useful benchmarks and help an executive choose the right archetype that both fits their style and what the business needs.  

2. Define Key Topics, Audiences and Channels 

Create themes with key stakeholders that align with the company’s vision and resonate with target audiences. Prioritize topics based on relevance, impact and alignment with the CEO’s expertise. Identify key audiences—employees, clients, investors and media—and select the most effective channels for engagement (social media, press, events, etc.). Topics may arise that are important but that better suit another voice in the C-suite. 

3. Develop an Actionable Strategy and Timeline 

Integrate thought leadership into the broader marketing and PR strategy. Outline content deliverables such as blog posts, op-eds, LinkedIn articles, keynote speeches and videos. Assign responsibilities and set timelines to ensure consistent execution and alignment with the organization’s goals. 

4. Implement a 12-Month Activation Plan 

A structured rollout is essential for building momentum. Here’s a sample quarterly roadmap: 

  • Q1: Strengthen online presence by increasing social media engagement and publishing industry insights. 
  • Q2: Secure media placements, guest articles and interviews to establish credibility. 
  • Q3: Obtain speaking opportunities at industry events and participate in thought leadership panels. 
  • Q4: Analyze performance, refine the strategy and plan for the upcoming year. 

Where Thought Leadership Lives: Key Channels 

The effectiveness of a CEO’s thought leadership depends on selecting the right platforms for engagement: 

  • Social Media: LinkedIn remains the most effective channel for executive thought leadership, while platforms like Instagram, X (formerly Twitter), Reddit, YouTube and BlueSky can provide additional reach depending on the industry. 
  • Media & Press: Securing articles and interviews in reputable industry publications and mainstream outlets can amplify the CEO’s voice. Your PR firm can help your leader also be a go-to for certain areas of expertise. 
  • Speaking Engagements: Conferences, podcasts and webinars allow CEOs to showcase expertise and connect with peers. 
  • Internal Communications: Engaging employees through internal messaging channels strengthens company culture and reinforces leadership. 

The Long-Term Impact of a Strong CEO Brand 

A well-executed thought leadership strategy builds sustained momentum, driving long-term brand awareness, credibility and market differentiation. By proactively managing their personal brand, CEOs can steer their organizations through uncertainty, foster trust with stakeholders and drive meaningful growth. Ultimately, a visible and authentic CEO presence is a powerful tool for maintaining competitive advantage in today’s fast-evolving business environment. 


FINAL THOUGHTS

“Uncommon Growth” is what we define as high-impact, sustainable growth that is smarter, faster, more human and more actionable. Executive thought leadership is another lever to help enterprises of all sizes achieve it. 

Talk to us about building your executive team’s thought leadership strategy.  

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The Multiplier Effect: How Brands Unleash Full-Funnel Growth https://prophet.com/2025/03/the-multiplier-effect-how-brands-unleash-full-funnel-growth/ Tue, 25 Mar 2025 15:08:44 +0000 https://prophet.com/?p=36019 The post The Multiplier Effect: How Brands Unleash Full-Funnel Growth appeared first on Business Transformation Consultants | Prophet.

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The Multiplier Effect: How Brands Unleash Full-Funnel Growth

New research shows how integrating brand and performance marketing drives better outcomes.

For more than a decade, performance marketing has claimed an outsized share of CMO attention—and budget. But new research from The Multiplier Effect: A CMO’s Guide to Brand Building in the Performance Era reveals a deeper truth: the most powerful results come not from performance or brand alone, but from a smart, integrated approach that connects the two. 

Developed in collaboration with WARC, Analytic Partners, BERA and System1, this landmark report offers one of the clearest cases yet for full-funnel marketing—Prophet is proud to have played a central role in bringing it to life. Through our work designing and executing brand and demand strategies that deliver measurable business impact for our clients, we know that when brand and performance work together, growth multiplies. 

The Myth of the Performance-Only Playbook 

The research confronts a long-standing myth: that brand marketing can’t deliver provable business results. The data tells a different story: 

  • Brand marketing alone outperforms performance marketing in ROI. 
  • When brand and performance efforts are combined, the return on investment increases by an extraordinary 90%. 
  • High brand awareness makes performance campaigns more effective at the bottom of the funnel. 
  • Stronger brands enjoy greater pricing power—improving profitability, not just reach. In fact, a 1% increase in brand differentiation and relevance drives a 0.6% lift in pricing power. 

These insights are particularly important in categories where consideration cycles are long. In B2B, for example, just 5% of buyers are in-market at any given time. Performance tactics focused only on in-market buyers will always miss the majority of the audience. Investing in brand ensures you’re influencing choice long before a prospect raises their hand. 

Why CMOs Need a New Approach 

The distinction between brand and performance marketing is increasingly outdated—and, as the report shows, costly. Over-prioritizing performance at the expense of brand leads to a “performance penalty,” where revenue returns can drop between 20% and 50%. The solution? A more balanced and integrated investment strategy: 

  • CMOs should allocate at least 30% of marketing spend to equity-driving work, with 40–60% considered best practice. 
  • Marketers need to shift from siloed brand and performance teams to integrated planning, aligning campaigns around full-funnel creative platforms. 
  • Budgets should account for the “media multiplier”—the longer-term value of media investments—which can range from 1.1x to 2x, depending on the channel. 
  •  Have patience—but not that much… while performance marketing might show an initial bump in sales, within 90 days, 50% of the brand impact will be realized 

Finally, marketers need the tools to measure what really matters. The report encourages building a “measurement stack” that tracks both short- and long-term impact—from immediate campaign returns to effects on pricing, preference, and brand equity. 

How to Win Across the Funnel 

At Prophet, we’ve long believed that sustainable, uncommon growth comes from integrating brand and demand. That’s why we help CMOs and marketing teams not only define their brand’s purpose and positioning—but also bring it to market through strategies that drive awareness, conversion, and loyalty. 

Our work with clients like PENN Entertainment, FM, Inspira Financial and Curative demonstrates how a full-funnel approach pays off: 

  • For Inspira Financial, we led a full rebrand from Millennium Trust, delivering everything from strategic foundations to campaign creative and media execution. 
  • For Curative, an innovative health insurance challenger, we partnered across two phases: building the brand and go-to-market story, then developing a high-performance ABM demand strategy. The result? Record-breaking mid- and lower-funnel engagement and rapid customer growth. 

FINAL THOUGHTS

The Multiplier Effect is more than a research study—it’s a roadmap for how modern marketing leaders can unlock the next wave of growth. At Prophet, we help our clients build strong, distinctive brands and connect them to performance strategies that convert. 

If you’re ready to rethink your marketing model and activate a strategy that delivers strong brands and connects that to growth across the funnel—we’re here to help. 

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The Multiplier Effect: A CMO’s Guide to Brand-Building in the Performance Era https://prophet.com/2025/01/the-multiplier-effect-a-cmos-guide-to-brand-building-in-the-performance-era/ Thu, 30 Jan 2025 20:59:55 +0000 https://prophet.com/?p=35616 The post The Multiplier Effect: A CMO’s Guide to Brand-Building in the Performance Era appeared first on Business Transformation Consultants | Prophet.

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RESEARCH

The Multiplier Effect: A CMO’s Guide to Brand-Building in the Performance Era

Research from WARC, Prophet, Bera.ai, System1 and Analytic Partners reveals how advertisers are missing significant revenue-generating opportunities.

We are excited to introduce a new WARC research report, “The Multiplier Effect: A CMO’s Guide to Brand-Building in the Performance Era” that Prophet contributed to in partnership with experts from Analytic Partners, BERA.ai and System1. The report is based on data and insights from this first-of-its kind coalition to highlight why it’s critical to get balance between brand and performance marketing investment right – or risk leaving revenue-generating opportunities on the table. Download a free copy today.  

Infused with data and insights from our report “Brand and Demand: Marketing’s Greatest Love Story” this research explores the gap in how companies approach advertising: the silos between brand and performance across creative, media, budgeting and measurement. 

Through our data and analysis, we found that the strongest returns from advertising investment come from using brand equity as an accelerant for commercial performance. By fully integrating this investment in brand equity with performance tactics, you can unlock growth and maximize the return on your spend. 

Read this report if you are a marketing or business leader looking to build brand equity and turn your performance marketing into a high-impact growth driver.  

Download Report


FINAL THOUGHTS

Today’s marketers are under increasing pressure to deliver measurable value from their investments. We empower CMOs to build marketing organizations that not only meet these demands but also drive uncommon growth. Get in touch with our team for help developing holistic marketing strategies that integrate sustained brand and demand investment to create and deliver value.  

The post The Multiplier Effect: A CMO’s Guide to Brand-Building in the Performance Era appeared first on Business Transformation Consultants | Prophet.

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Bridging Brand and Demand: How to Unlock Competitive Advantage in Commercial Banking https://prophet.com/2025/01/download-bridging-brand-and-demand-in-commercial-banking/ Wed, 22 Jan 2025 19:44:40 +0000 https://prophet.com/?p=35575 The post Bridging Brand and Demand: How to Unlock Competitive Advantage in Commercial Banking appeared first on Business Transformation Consultants | Prophet.

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REPORT

Bridging Brand and Demand: How to Unlock Competitive Advantage in Commercial Banking

The commercial banking industry is facing unprecedented challenges and opportunities. From rising client expectations to rapid technological shifts, staying relevant demands more than just keeping up—it requires a bold, client-first approach to growth.

Part 1 of Our Exclusive 3-Part Series on Driving Growth and Relevance in Commercial Banking

This first installment uncovers the critical strategies to align brand-building and demand generation efforts, unlocking sustainable growth in an era of constant change.  

Key Learnings: 

  • Why the gap between brand-building and demand generation limits growth—and how commercial banks can bridge it.  
  • Actionable insights to enhance client engagement and position your bank for sustainable growth.  
  • Key strategies to differentiate your organization in an increasingly crowded market.  

What’s Next?

Future articles in this series will dive deeper into reimagining client experiences, rethinking product architectures, and fostering cultural alignment to position commercial banks for long-term success. 

Download Now

Get started today by downloading this report and take the first step toward driving meaningful growth and relevance in commercial banking. Contact our team to learn how we can help you successfully integrated brand and demand marketing strategies that lead to uncommon growth. 

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Bridging Brand and Demand in Commercial Banking

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Thank you for your interest in Prophet’s research!

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Brand & Demand: Marketing’s Great Love Story https://prophet.com/2024/10/download-brand-and-demand-marketings-great-love-story/ Tue, 01 Oct 2024 17:15:31 +0000 https://prophet.com/?p=34964 The post Brand & Demand: Marketing’s Great Love Story appeared first on Business Transformation Consultants | Prophet.

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NEW RESEARCH

Brand & Demand:
Marketing’s Great Love Story

As marketers, we know that integrating brand and demand tactics drives the greatest ROI. When done right, it leads to better outcomes for both marketing and the business, in the short and long term. Our report offers six ways to help marketers swipe right on stronger relationships—because great connections lead to growth.

Turn your marketing relationship from ‘it’s complicated’ to ‘happily ever after.’  


Unleashing the full power of brand and demand is about more than how you spend your marketing dollars.







Get all the insights on how to integrate brand and demand marketing in our new research report.

“Marketing should always be focused on both brand and demand. Brand is the #1 asset that we will sell every day. If it’s unhealthy… there will be no demand.”

Alicia Tillman | DELTA AIR LINES
Chief Marketing Officer

“It’s hard to orchestrate in a coordinated way – how do you bring brand and demand together in the higher parts of the funnel?”

Dipti Kachru | BROADRIDGE
Chief Marketing Officer

Today’s marketers are under increasing pressure to deliver measurable value from their investments. We empower CMOs to build marketing organizations that not only meet these demands but also drive uncommon growth.

Our approach focuses on the real challenges marketing leaders face, emphasizing the importance of strategic marketing planning, agility, experimentation, flexibility and a steadfast commitment to accelerating growth.

Prophet’s team of brand and marketing experts helps you develop holistic marketing strategies that integrate sustained brand and demand investment to create and deliver value. 


Download Report
Brand & Demand: Marketing’s Great Love Story

*Fill in all required fields

Thank you for your interest in Prophet’s research!

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CMO Focus: Four Trends to Watch in 2024 https://prophet.com/2023/12/2024-cmo-trends/ Wed, 20 Dec 2023 20:35:02 +0000 https://prophet.com/?p=33847 The post CMO Focus: Four Trends to Watch in 2024 appeared first on Business Transformation Consultants | Prophet.

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CMO Focus: Four Trends to Watch in 2024

Marketing leaders must be everything, everywhere, all at once. Here’s how they’re prepping for the challenges ahead. 

Chief marketing officers are some of our favorite people, and as we were putting together our annual list of predictions for the year ahead, we got a fast reminder why. Despite an uncertain economy, changing expectations from CEOs, and fast-rising media rates, marketers remain as optimistic as ever.  

We spoke to more than 25 senior marketers to get their take on the challenges they’re facing and where they plan to prioritize in the coming year. Their belief in the power of creativity and new ideas keeps growing. And they’re continuing to beat the drum on the importance of testing and learning, innovating, and being at the forefront of leveraging AI to help them achieve uncommon growth. 

As CMOs settle into the expanding remit of their role, they’re increasingly confident about broader opportunities. Many now have ownership of growth initiatives and transformation efforts. They are overseeing efforts to drive both brand and demand and are responsible for orchestrating numerous, impactful touchpoints throughout the entire customer journey. One leader we interviewed told us it’s like that movie, “We have to be everything, everywhere, all at once.” 

These leaders see themselves as fully in the driver’s seat, organizational change-makers, providing the voice of the customer to advocate for new capabilities. They are connecting dots across more functions. They are operating at two speeds: balancing the need to deliver in-quarter results with setting up longer-term growth moves, all while navigating continued outside-in disruption. 

Here are four predictions we expect to see in 2024. 

Trend #1: Finding Uncommon Growth in the Storm 

It’s certainly not news to CMOs that they’re navigating turbulent markets. Yet they’re cautiously optimistic about what lies ahead, with 49% saying they are more upbeat about the U.S. economy than last quarter. According to a recent study by Deloitte, only 22% are less optimistic. According to Forrester, 80% expect a marketing budget increase, albeit a modest one, going into 2024. No wonder 75% of senior marketers in a recent Gartner survey say they’re expected to do more with less. 

They’re on a tightrope, juggling near-term tactics while planning long-term growth goals. A recent Salesforce survey of marketers finds that 76% say they feel more responsibility to drive growth – proof indeed that more enterprises are recognizing marketing’s power to increase revenue. 

As many marketing leaders have taken on more commercial responsibility, that pressure keeps building. “Previously, my role focused on communications and driving colleague engagement,” says the CMO of a leading advisory firm. “Now it’s shifted to driving topline growth while carving out greater differentiation.” 

“The world has gotten very complicated, yet organizations are facing pressure to grow at the same pace as when the world was less volatile,” agrees the CMO of a commercial real estate company. “All of this is making it even more difficult to get your message out.” 

“The big challenge now is not to overcompensate,” says a leading building supply company marketer. “We didn’t overspend when things were good. So let’s not underspend when things are bad.” 

But these leaders know their role is more significant than deciding where to dial back spending. “What got us here won’t get us there,” says a CMO at a top-tier financial company. And like 83% of respondents in the Gartner study, the marketing strategies her team has come to rely on in the last two years are markedly different than those of the past.  

Critical to this evolution –and any and all growth– is a greater-than-ever push toward customer centricity. “Do we really understand our customers? That’s what keeps me up at night,” says a top marketer at a financial advisory company. 

As marketers grapple with being asked to do more with less resources while simultaneously proving value from their marketing investments, it will become even more critical in 2024 to be able to prove ROI by translating business objectives into quantifiable customer goals. Actively defining and measuring against clear KPIs will be key to allowing marketers to quickly pivot to optimize their efforts to deliver better outcomes.  

Trend #2: Acing the Marketing Basics While Leaving Room for Experimentation 

Most of the CMOs we spoke to say that they are getting more comfortable operating in a post-pandemic marketing environment that is often turbulent and unpredictable. 

Finding better ways to integrate brand and demand strategies is at the top of that list. While there is a short-term swing towards demand, brand continues to play an essential role. Finding the right ratios remains critical, but the old-school separation no longer works. “Companies that separate budgets and teams between brand and demand do so at their disadvantage,” says the CMO of one of the world’s largest e-commerce companies. “Every touchpoint informs perception of the brand, and every brand touchpoint needs to deliver business.” 

“I want my budget all looked at through an integrated model,” agrees a top financial marketer. “I’m a big believer in brand and demand.”  

Generative AI, already critical to 56% of marketers, is taking on more importance, with 80% of those in the Forrester survey saying they intend to use generative AI in the next year. Blogs are the most common use, named by 65%, followed by website copy at 62%. 

Updated techniques to track ROI, with data and analytics emerging as the new rocket science, are also on top of CMOs’ “must-do” lists. Even as 63% of the marketers in Forrester’s research are amping up martech investments, Salesforce finds that 72% struggle to measure the impact, and 43% find it hard to track customers across the journey. CMOs are becoming increasingly vocal about these glaring blind spots. “Someone needs to figure out …” is a refrain constantly echoing throughout marketing departments when it comes to marketing measurement and attribution.  

Leaders are determined to remedy that problem in the coming year. “We look at marketing-attributed revenue, particularly inbound leads driven by digital or other channels,” says a senior financial services marketer. “We also look at how effectively we sell differentiated service bundles tied to our client needs. To measure the success of our business development enablement, we look at win rates and the service portfolio’s overall growth.” 

Other hot-button issues that were mentioned? More innovative ways to track the cost, benefits and risks of influencer marketing, and social issues, particularly in reaching Gen Z.  

What does this mean for marketers in 2024? Despite pressures from boards and executive teams to deliver near-term results, CMOs need to continue to support longer-term priorities that they know will be important over time. Allowing space for experimentation, whether it’s with new AI technology, martech or channel strategies, will help guide where to invest without over-indexing on long-term or short-term growth ambitions.  

Trend #3: Acting as Organizational Change-Makers 

Getting the foundational basics right is vital. But it’s not enough. To create transformational growth, CMOs are becoming digital leaders, stepping more forcefully into corporate grey areas. Although marketing leaders currently lead 70% of digital transformations, even more are grabbing the reins. “There is a void,” says a marketer at a large regional health organization. “No one owns the full digital transformation, so we are just taking it on.” 

As the role of marketing has expanded, they believe it’s time to shake up the operating model. In Gartner’s research, 86% of marketers agree that their organization must change how it works to achieve sustainable results. 

CMOs need to think about themselves as connectors and integrators. They should think cross-functionally across departments, linking channels and disciplines across products and experiences. This year, 37% say their teams are fully integrated, up from 19% a year ago according to Deloitte’s CMO study. 

For those lucky enough to work for C-suites who have fully bought into this level of collaboration, it’s easier to make progress. “Building strong relationships between functional leaders based on transparency, empathy, and mutual benefit, has been instrumental in breaking down silos and achieving better outcomes,” says a CMO from a large retailer, who now calls her bond with the head of product one of the tightest partnerships she’s ever had. “It’s been an absolute game changer.”’ 

As marketing’s responsibilities shift and expand, finding opportunities for cross-functional collaboration not only helps break down internal silos but also creates better outcomes for customers. Marketing leaders have a real opportunity to be catalysts for change across their organizations, and they should be ready to lead the charge.  

Trend #4: Leaning into Creativity 

What’s perhaps most exciting, is that even as they build teams with new skills, capabilities and competencies, leaders are less bashful about what drew them to marketing in the first place: The power of creativity and ideas. 

CMOs say this creativity still plays a critical role in differentiating brands. They find joy in investing in the brand and seeing how creativity helps them stand out, increase revenues and gain relevance. They are building moments that matter, and ultimately that lead to sustainable growth. 

“I still believe in the power of big ideas,” says one CMO. “When problems need solving, traditional creativity always wins.” 

As pressure builds to deliver and prove ROI, creativity often takes a backseat. But it would be a mistake to overlook the power of creativity, and how it allows brands to connect with customers on a meaningful level. Marketers understand this and should continue to push for inspiration that’s driven by deep and authentic creativity. 


FINAL THOUGHTS

As the year draws to a close, we’d like to salute marketing leaders for constantly looking for new perspectives. It takes persistent imagination, optimism and a growth mindset to thrive in these conditions, and you’re a constant source of inspiration. As we step into the new year, we invite you to share your thoughts on the challenges you foresee and the strategies you’ll use. Here’s to a year filled with new possibilities and uncommon growth.

The post CMO Focus: Four Trends to Watch in 2024 appeared first on Business Transformation Consultants | Prophet.

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Brand Ambition: The Secret to Sustainable Growth https://prophet.com/2023/11/brand-ambition-the-secret-to-sustainable-growth/ Thu, 09 Nov 2023 14:28:45 +0000 https://prophet.com/?p=33687 The post Brand Ambition: The Secret to Sustainable Growth appeared first on Business Transformation Consultants | Prophet.

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Brand Ambition: The Secret to Sustainable Growth

As many companies struggle to find meaningful sales gains, we’ve isolated an essential element of value creation.   

The most successful businesses are often the most ambitious. A corollary is that when brands find it increasingly difficult to deliver meaningful growth, the cause is often a case of stunted ambition.  

Marketing leaders understand their company’s vision, purpose and mission. And they’ve invested in crafting inspired brand positionings. But ask them about brand ambition – how the brand delivers on the Purpose and the role the brand plays in value creation – and they might not have a clear response. Ambition represents a powerful and critical part of bridging corporate and brand strategy. It can turn a brand into a fast-moving growth engine, powering commercial success throughout the organization. 

Having a clearly defined ambition matters. Prophet’s ongoing research on brand relevance has shown that ambition is the spark that ignites brands and helps to define “who we are” as a brand, serving as a roadmap for setting and achieving future goals.  Ambition is more than just reaching sales objectives. It enables brands to find new ways of connecting and evolving, which allows them to outpace the competition by gaining market share, earning customer loyalty and unlocking new sources of business growth. Ambition should:  

  • Articulate the overall business impact a brand is trying to create. 
  • Translate the organizational purpose, making sure it is tangible, pursuable, and connected to the company’s strategic focus.  
  • Emphasize the role of the brand in value creation.  

Once an ambition has been defined, brands can deploy it to galvanize internal stakeholders across the organization around a strategic and inspiring future vision. It becomes a core commercial tenet informing investments, in-market activations and experiences, creating a sense of cohesion and progress toward that future state. 

Ambition should not be confused with purpose. Purpose is the value a company brings to the world, above and beyond products and services. Ambition represents how the brand will deliver on that Purpose and the value it will create for the business in doing so. The best ambitions involve a figurative handshake between the CMO and CEO, enabling the brand to create tangible value by paving the way for growth opportunities, reaching new customers, segments and products. By having a clearly defined ambition, you can effectively translate your business strategy into a brand goal.  

Ambitious brands find ways to stand out as category leaders. Airbnb, for example, is all-in on delivering memorable experiences. Sure, it gives customers convenient lodging at great prices, like many competitors, and provides a platform for homeowners similar to VRBO. But only Airbnb is likely to send guests on a hike with a pack of well-trained German Shepherds, connect them with certified tea masters in Japan, or book them into historic castles in Scotland. It has defined its future state as an integrated travel and experiences company and actively builds towards it, deepening revenue streams and unlocking new ones. And consumers have taken notice – Prophet’s brand relevance research identifies Airbnb as the most relevant hospitality brand, performing especially well on the emotional, “Heart” facets of brand relevance. The brand leads consumer perceptions on key attributes, such as “Engages with me in new and creative ways”, and “is always finding new ways to meet my needs.” As the travel industry continues its rebound, it is no surprise that Airbnb’s share price is up over 50% YTD (at the time of this writing). 

Zelle is another ambitious brand. Instead of wanting to be like other disruptive fintech players, its goal is the reverse: It wants to play well with others. Zelle maintains its best-in-breed status by working within the ecosystem of legacy retail banks, constantly seeking new ways to help people manage money digitally without cutting ties to their bank. The brand is front-facing and actively supported by large-scale banking partners, playing a leading role in creating consumer routines in financial transactions. And it is a great example of how a brand can play a primary role in value creation. In our research, Zelle emerged as one of the most relevant financial services brands, with strong performance on more rational, “Head” factors. The brand leads on key dimensions related to trust, consistency, and dependability. And even with an ambition that is less disruption and more connection, Zelle is seen as a “modern, and in touch” brand. 

Is it Time to Elevate Your Brand Ambition? 

A hallmark of ambitious companies is that they generally make their ambitions known. Look no further than their 10-Ks, earnings calls, and letters from the CEO. They describe their growth plans and what they intend the company to look like in the next five to 10 years. 

But many companies – and we’d argue most –could benefit from reevaluating their brand ambition to ensure it addresses current market conditions and the right future outlook. Increased competitive intensity, disruption from new entrants and systemic regulatory or technology changes all create the need for a more elevated ambition. So can changes in consumer behavior and cultural shifts among critical stakeholders. 

Any one of these factors can lead to several negative outcomes. A slowdown in growth is the most obvious, but any indication of declining relevance or customer engagement – even if those haven’t yet affected revenue – is cause for concern. Organizational distress, declining employee satisfaction and a less-engaged workforce are also warning signs. Other indicators include unstructured brand and marketing efforts, varied campaigns with no clear strategy or messaging.  

Companies can assess their ambition by asking themselves three questions: 

  1. Is the brand acting in service of and playing a leading role in delivering on corporate strategy?
  2. Does the business know our customers well enough to know how the brand is improving people’s lives today and into the future?
  3. How well do those brand benefits align with the company’s current assessment of strategic growth areas? 

How to Define or Refine Brand Ambition 

If any of those answers seem unclear, it’s time to clarify and evolve the brand’s ambition. To get started, take a fresh look at the current customers and consider the sources of value and future growth while integrating a detailed understanding of the growth landscape into the new ambition. Consider these critical elements by asking: 

Is there a clear customer target, an inspirational purpose or a compelling positioning? And how does it establish the target future state for the brand? 

KitchenAid continues to build relevance with modern cooks. It understands that the ways people prepare food may change, leading the way with spiralizers, air fryers and appliance innovations. But it also knows kitchen creativity is timeless, making that iconic stand mixer a “real cooks live here” status symbol for decades. KitchenAid is perennially ranked as one of the most relevant brands, and setting the right ambition has meant that the brand leads the category on measures of dependability, trust, and consistency, while also making consumers feel inspired. 

What are our core beliefs that guide and inspire actions?  

Companies should understand the needs they fulfill today to envision doing it better tomorrow. Hoka’s mission is lofty, making athletes feel like they can fly. But it also has an ever-expanding definition of who it serves, like nurses, who average 16,000 steps per shift. It also reconsiders when it helps people, with casual trainers designed for recovery among its fastest-growing styles. Sales are up nearly 60% YoY, and parent company Decker is confident it will soon be a $2 billion brand – assuming it stays true to its ambition.  

What business are we in, and how might the brand allow the company to execute its corporate strategy? 

Barbie may be getting most of Mattel’s buzz, but the company has also expanded its ambitions in other products, including Hot Wheels. While it still sells plenty of diecast cars and connecting tracks, its new purpose is to ignite the challenger spirit within kids, encouraging them to try, fail, and try again. That commitment to fostering grit and resilience works not just with its classic toys and tracks but also with the fast-growing universe of Hot Wheel’s games and digital content. And despite being in a category that is in constant upheaval, and subject to rapidly changing consumer preferences, company shares are up over 18% at the time of this writing. 

This question calls for a fresh take on customers, looking for sources of value and future growth in adjacent categories. Direct-to-consumer brands continue to school legacy companies in their ability to quickly move into new categories and channels. Liquid Death, the cult water brand, now sells Rest in Peach and the Grim Leafer iced teas. E.L.F. Cosmetics is using dupe thinking to make sticky primers a must-have. Chewy has moved into veterinary services and pet insurance, all on the back of an exceptional commitment to service for pet owners.  

Is our ambition flying at the right altitude?  

It risks organizational uncertainty if it’s too lofty, intangible, or unrealistic. If it is too close in – for instance, reducing brand performance to battles for share points – it leaves no runway for growth, expansion or progress. Ambition defines a clear and pursuable path for future advancement.  

Calm, the meditation app that consistently scores as one of the most inspirational and emotionally engaged brands in our relevance research, learned how to soothe and provide supportive mediative guides to tens of millions over the last several years. That gave the company the conviction for its next ambitious move, with clinical mental health.  


FINAL THOUGHTS

Marketing leaders often overlook their brand’s ambition, a vital link between corporate and brand strategy. Ambition inspires stakeholders and fosters cohesion. Regularly revisiting it ensures alignment with market changes and ensures continued delivery of real customer value. Key elements include a clear customer target, alignment with corporate strategy, and a clearly defined role that the brand plays in creating value, providing a pursuable and measurable path for uncommon growth. 

Ready to build an ambition that powers your growth engine? Contact us today. 

The post Brand Ambition: The Secret to Sustainable Growth appeared first on Business Transformation Consultants | Prophet.

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Powering Sustainable Growth with Your Brand Engine https://prophet.com/2023/07/powering-sustainable-growth-with-your-brand-engine/ Wed, 26 Jul 2023 18:41:18 +0000 https://prophet.com/?p=32988 The post Powering Sustainable Growth with Your Brand Engine appeared first on Business Transformation Consultants | Prophet.

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Powering Sustainable Growth with Your Brand Engine

The most relevant brands require ongoing maintenance. Prophet’s Brand Engine Model outlines the five levers needed to drive growth.

During a recent assignment for a global automaker, a non-marketer on the client team pulled me aside. A little embarrassed, he asked, “What even is a brand and why does it matter?” Our side conversation spiraled. Is an NFT a brand? A religion? How about IP? Heck, can a person really be a brand? It took me a minute, but I finally got his deeper question: How does brand building lead to growth? 

It’s a question we all – consultants and clients alike – should consider more often. We know brands are valuable, if intangible, assets. While the value of a brand fluctuates by industry, there is no question that it has value. Brand value is calculated in the accounting of every merger and acquisition. While estimating these values is an industry unto itself, we know value derives from many elements – from the organization’s highest leaders to consumers’ interactions and experiences. Brands are valuable because they are a short-cut, a promise– representing a set of functional and emotional expectations. The value of the brand reflects complex understandings, strategies, symbols, and beliefs. 

Most companies understand brand value needs to be nurtured and protected. They are aware of what’s at risk. For most successful organizations, however, a brand is not just an asset. It’s also an engine of growth, powering the next horizon of success.  

For the past eight years, Prophet has surveyed thousands of consumers in our annual brand relevance study to understand which brands are most relevant to their lives. Our research has shown that the most relevant brands, have found ways to build customer loyalty, and ultimately drive more growth. The top-performing brands in our study, have outperformed the S&P 500 by 201% in the last five years.   

To quantify how brands build relevance, we used this research and our years of experience building brands to develop a Brand Engine Model which is powered by five critical components. It’s clear that brand is a critical driver of growth, and all organizations should be constantly building, nurturing and refining their brands or risk losing relevance with their customers. While marketing is often responsible for owning brand, it should not be overlooked across the C-suite as a crucial component towards supporting the business reach its revenue goals.  

Prophet’s Brand Engine Model 

Prophet’s Brand Engine Model
(See full-sized version in your browser)

Building a Powerful Brand Engine 

Ambition: Who are we?  

All engines start with a spark. For brands, that spark is ambition, defining the organizational purpose and role of the brand in value creation. Patagonia’s inimitable “Earth is our only shareholder” commitment sets a high bar. However, businesses as diverse as Nike, USAA and LEGO answer that question in ways that make people’s hearts soar. Every brand must have a well-defined purpose that sets it apart and gives all its stakeholders – customers, employees and shareholders – something to believe. 

Ambition supplies the instructions required to set the engine in motion. Without it, wheels spin, and brands lurch along, but with no velocity.  

Remember my client’s question about whether a person can be a brand? If that were true, that person would clarify ambition by asking, “What do I want to be when I grow up?”  

To set the agenda for ambition, companies need to ask:  

  1. What is our core belief that guides and inspires our actions? 
  2. What needs are we serving in people’s lives? 
  3. What business are we in and how might the brand allow the business to execute on our corporate strategy? 

Ecosystem: Where do we exist?   

The Ecosystem does more than define a frame of reference. It requires a deep understanding of how the brand fits into people’s lives. For both B2B and B2C brands, the ecosystem helps define the competitive landscape. Having a well-articulated ecosystem not only creates a sandbox for brands to own and operate, it also provides an opportunity for strategic and innovative partnerships. Whether it’s Peloton moving into Hilton properties, Calm app paying mental-health fines for tennis players, Gucci partnering with Oura rings or a Spotify playlist following passengers into an Uber, the opportunity for productive partnerships often leads to new revenue streams. 

Ecosystems also function as powerful collaborative areas for companies to build on their employer brand, engaging employees in ways that keep them curious. Google, for example, has famously encouraged its people to devote 20% of their work time to projects in their personal areas of interest. That way, the brand constantly re-invites employees into its incubator-esque way of thinking. 

To set the context for ecosystem, companies need to ask:  

  1. What is the context in which a consumer experiences a brand (e.g., depending on pre-existing biases, situational relevance, or physical environment)?  
  2. How does the brand(s) fit into consumers’ lives, relative to the other brands that they regularly interact with?  
  3. How should we organize our own architecture and relationships to optimize navigation, understanding, and brand equity building?  
  4. What brands do we want to be associated with (e.g., deliberate partnerships or inadvertent association)? 

Expression: How do we show up?  

To many, this component is classic branding. It tells a powerful story through an authentic, cohesive look, sound and feel. It is a way to create excitement across touchpoints. And it includes all the more common things associated with branding, from logo to commercial to content. Of all the engine components, it is often the most closely bound to strategy. While Apple and BMW do many things right, they are routinely flawless in this dimension. 

While this component feels classic, its importance should not be overlooked. When heritage brands refresh their visual identities it’s big news. Consumers and employees find comfort and build attachments to brands they feel deep loyalty to. From UGG to JetBlue, we’ve seen brands maneuver expression both expertly and not so expertly.   

To align a path forward for expression, companies need to ask:  

  1. How do we use our visual identity, voice, messaging strategy, and other signature stories to tap into the underlying human truths/emotions from our Ambition? 
  2. How might we use our visual identity, voice & messaging, and other stories to drive awareness, interest, and engagement? 
  3. How can, and should, we feel and sound distinct in-market to stand out from competitive brands and drive an ownable position? 

Experience: How do we engage?  

At every touchpoint, even if it’s beyond a company’s control, people form a perception of the brand. Experiences can deliver unique moments, using those perceptions to deepen relationships. 

Companies have come a long way in acknowledging the importance of experience but continue to under-invest in it. That neglect shows. One major study shows customer experience is plummeting, falling 20% last year. And one in five companies says they plan to eliminate CX.  

The best brands constantly think of both the owned and the un-owned touchpoints, curing problems and allowing the brand to flourish. UGG, for example, leans hard on diverse influencers with activations at music and film festivals. Lululemon creates thousands of store-as-community-hub events, partners with meditation organizations and hosts women-friendly road races. Jeep owners love the tradition of the `Jeep Wave,’ enthusiastically calculating their place in the ranking hierarchy before flashing the sign. 

To set the stage for experience, companies need to ask:  

  1. How should the experiences that we design make our customers or users feel (e.g., de-cluttered, inspired, appreciated), in a way that ties back to our core human truths defined in Ambition? 
  2. How can we make the lives of our customers/users easier? 
  3. How might our set of experiences serve as a revenue platform through efficient, digital-first channels?  
  4. How might these service channels drive long-term loyalty and stickiness? 

Intelligence and Measurement: Are we moving in the right direction?  

More than ever, marketers are being asked to prove their value and show business results. Applying intelligence and measurement allows for demonstrating success but it also enables quick optimizations to deliver better outcomes. It keeps the finger on the pulse of audiences. Virtually all marketers know this, yet many don’t yet have the tools and capabilities in place to harness their data to maximize output.  

Companies that spend the most on measurement and insights are among the world’s fastest-growing. Dove, for example, owned by Unilever, never stops mining its years of social-media success for insights about core users. Its latest hit is the #TurnYourBack campaign, encouraging people to shun TikTok’s unrealistic beauty standards, earning close to 800 million impressions. 

And McDonald’s extensive investments in ongoing customer research shape every menu tweak and new promotion, following people’s fast-changing perspectives on everything from which beef is healthiest, plant-based alternatives and Grimace’s return to glory. 

To set the limits for intelligence and measurement, companies need to ask:  

  1. What equities does our brand have with audiences, and how have these shifted?  
  2. How well are we serving their emotional and functional needs? 
  3. How are different parts of our business performing and how might our brand better serve our engagement and customers? 

Ultimately, the quality of execution across all five components drives brand value, transformation and growth. But no two engines are the same. Some brands might invest more resources in expression, others in experience. Pepsi isn’t the same as Pinterest. But a carefully calibrated brand engine can change gears as context shifts and unforeseen events happen. And with equilibrium, brands grow into de-risked, agile engines of growth.  


FINAL THOUGHTS

Every brand is an engine. When companies are willing to turn them on, fine-tuning and optimizing as they go, they move into the fast lane. They gain traction, passing competitors. They become an explosive source of uncommon growth and transformation. 

To learn more about creating relevant brands that drive growth, contact our team today. 

The post Powering Sustainable Growth with Your Brand Engine appeared first on Business Transformation Consultants | Prophet.

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Don’t Ignore Brand During the Banking M&A Riptide  https://prophet.com/2023/04/dont-ignore-brand-during-the-banking-ma-riptide/ Fri, 07 Apr 2023 13:40:45 +0000 https://prophet.com/?p=32337 The post Don’t Ignore Brand During the Banking M&A Riptide  appeared first on Business Transformation Consultants | Prophet.

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Don’t Ignore Brand During the Banking M&A Riptide 

The next M&A banking wave may be upon us.  What can be learned from past integrations where brand was left in a suboptimal place? 

While there is no crystal ball, slow economic growth and an inverted yield curve continue as headwinds for the banking industry. Both have already exposed vulnerabilities of large regional banks like Silicon Valley and Signature Bank, as well as G-SIBs such as UBS and Credit Suisse. While the speculated wave of consolidation may be overblown, there will no doubt be M&A activity during the foreseeable, uncertain future.   

HBR continues to cite that between 70-90% of acquisitions fail. In addition, MIT Sloan studied 200+ M&As with values exceeding $250M during a 10+ year period starting in 1995 and learned that in nearly two-thirds of those deals, brand strategy was deemed to have a low to moderate influence in pre-merger discussions. This approach leads to the new identity or identities post-merger in a suboptimal place with limited clarity and often stems from a gap in brand expertise during the M&A process and following.  

Specifically, we see five common mistakes related to brand that hinders speculated growth performance and increase costs during and post-acquisition:  

  1. The deal strategy undervalues customer upside and risks: To complete a fully informed financial forecast, due diligence must quantify current and future demand, change tolerance and emerging customer requirements. 
  2. There is limited understanding of purchased brand assets: For a truly shared optimized portfolio post M&A, companies must understand how all brand assets work to drive choice, revenue, and pricing power. 
  3. Integration teams have a narrow framing as primarily a “re-branding” effort: M&A presents a rare, point-in-time opportunity to articulate a new corporate narrative, upgrade customer perceptions and drive lasting cultural change within the organization.  
  4. Integration planning without a go-to-market plan to win: Integration priorities should pair synergy plans with growth moves: product, service and experience innovation to drive growth through the new asset base. 
  5. The new enterprise under-leverages culture and employee engagement: Successfully informing, engaging and enabling employees BEFORE launching externally is critical to retaining human capital and driving cultural engagement. 

As inevitable market forces drive sustained or increased M&A in the banking industry, new and exciting opportunities emerge. Here are three practical things to consider that relate to your brand (and business) during M&A:  

  1. Consider customer context early and often: Ensure all functional discussions include conversations around customer impact and set a precedent that addressing the customer impact and experience is a priority. This is especially true at retail banks, often built around specialized customer focuses or geographic footprints with entrenched identities.  
  2. Evaluate the value and values of brand assets to guide the right transition plan: Typically, fewer stronger brands win out in banking. While long-term efficiencies exist for consolidating brands, careful work must be done to explore different end-states and migration scenarios. Perform the right evaluation ahead not just to understand the brand’s value, but also the inherent values the brand holds, and the customer perception to guide the right transition plan in context.  
  3. Discover or rediscover purpose and power it through culture from within: Banking consolidation done wrong can feel like a mismatched transformer coming together with messy operating model discussions and integration cadences that unfold over time. This can be especially distancing for distributed employees working in branches or regional offices closest to the customer. Investing early in the process to better understand and sharpen a combined new culture with a more meaningful purpose can serve as a North Star for smoother and more engaged integration.  

FINAL THOUGHTS

Despite certain leading indicators, it will be hard to predict exactly what will happen with M&A in the banking sector. However, we can learn from the past in some capacity through the diligence and integration process to better predict the future, learning about the importance of brand as a critical consideration in the process.  

For more information on capturing greater brand and marketing value through M&A, please contact us today. 

The post Don’t Ignore Brand During the Banking M&A Riptide  appeared first on Business Transformation Consultants | Prophet.

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CMO Focus: Five Trends to Watch in 2023 https://prophet.com/2022/12/cmo-focus-five-trends-to-watch-in-2023/ Mon, 19 Dec 2022 15:37:52 +0000 https://prophet.com/?p=31189 The post CMO Focus: Five Trends to Watch in 2023 appeared first on Business Transformation Consultants | Prophet.

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CMO Focus: Five Trends to Watch in 2023 

Expect marketers to navigate economic upheaval and changing customer preferences by leaning into new approaches.

Chief marketing officers are looking to the year ahead with caution as the story of the economy plays out through 2023. While growing economic uncertainty means almost nothing will be predictable, it also creates opportunities for leaders to shine by doing more with less and leaning heavily into creativity and innovation. On the one hand, CMOs feel pressured to keep in step. They want to move faster and are looking for ways to add speed and tactical agility. But they’re moving more thoughtfully, too. They want to deepen their connections with people at a time when consumers are more conscious about their spending. Importantly, they feel well equipped “to go into battle” as they can lean back on lessons learned from the beginning of the pandemic. 

While building a strong brand is always critical, it becomes more important during economic downturns. When presented with brand choices, consumers are more likely to stick with brands they know and trust–even when given lower-priced options. So CMOs are questioning which moves will best strengthen trust with their existing customer base while finding ways to resonate with more consumers. 

In the coming year, we expect CMOs to: 

1. Flex Into Expanded Roles 

Their titles haven’t changed, but marketers recognize that their sphere of influence is shifting. The marketing function is no longer just responsible for using marketing to deliver value to the organization. They must prove and demonstrate how while taking on more ownership of the growth agenda. That includes uncovering new pockets of growth and figuring out new audiences and opportunities. 

As board-level expectations rise about marketing’s ability to prove its value, CMOs become integrators. They are bringing together different functions, from sales to product to ESG. This expanded responsibility for growth means moving beyond marketing key performance indicators to commercial KPIs, substantiating their impact on growth.  

And that means marketers must embrace a different language, leaving marketing jargon behind as they translate everything they do into the lexicon of business value. 

2. Refocus on Existing Customers Through Their Post-Purchase Journeys 

In times of economic uncertainty, companies should shore up their customer base, exploring new ways to drive loyalty. In lean times, brands must find ways to build trust and stay top-of-mind. Creating better customer experiences is a sure bet. 

The more companies invest in customer experience, the more they learn how to improve it. That means they’re making sure CX is brand-led, differentiated and personalized. The shift comes from seeing CX less as a defensive exercise and more as a positive relationship builder. It’s a way to expand the brand definition, bringing customers closer to its purpose. It creates more meaningfully engaged communities that act as stores of value during challenging economic times and sources of advocacy when conditions improve. 

Only data can inform that level of intimacy, so CMOs are becoming more outspoken about ineffective corporate data strategies. They’re learning that an overabundance of data often means they can’t thread the needle. And they’re constantly re-evaluating the role analytics play in the marketing organization, aligning marketing technology to produce more meaningful insights. 

It’s not just about having the right data. It’s also about having the right talent and teams in place to support the shifting needs of the business. We expect CMOs to continue to prioritize adding insight and experienced professionals who know how to ask the right questions of data and uncover insights that drive growth. 

3. Hold the Line on Brand Versus Performance Marketing Budgets 

The mix matters. And it requires extra attention in bumpy economies. Many companies are already slipping into fear-based budgeting, tipping into demand marketing at the expense of brand initiatives. It’s easy to do so at a moment when the rest of the C-suite is begging for quick results.  

But it’s also a mistake. And the most effective CMOs will make a case for sticking to the 60/40 rule, even as they find better ways to integrate brand as a growth engine. 

And they’ll increase efforts in key areas: 

  1. Experimentation: Under budgetary pressure, it’s tempting to back away from unproven channels. Those that continue to test and learn will see the best long-term growth results versus relying solely on quickly outdated benchmarks. But with the stepped-up scrutiny on budgets, experimentation should be agile. It’s okay to redeploy resources if the tests aren’t delivering results.  
  2. Channel Strategy: Social media is changing so fast that it requires teams to constantly refine goals and tactics. As TikTok becomes mainstream, Twitter (and new competition) evolves, YouTube gains clout and the metaverse beckons, brands need to constantly chart new directions. Few brands can–or should–be everywhere. But they all need to know how and why their customers use social.  
  3. Reporting: Tracking and socializing results should be done through business outcomes, not marketing metrics. This makes it more possible to connect brand and demand performance. No one in the board room wants to hear about clicks. The point of reporting is to evaluate past performance and make better, more effective strategic decisions for future efforts, getting the most out of limited resources. 

4. Welcome More ESG Moves into the Marketing Tent 

As governments, investors, employees and customers demand more accountability, environmental, social and governance policies are under the microscope–and their weaknesses are showing. Marketers can and should take on more, addressing the many ways ESG issues directly impact brand value. More CMOs are putting sustainability commitments and public announcements on the front of bottles, addressing it in packaging and formulation.  

They’re becoming more aware of how vulnerable brands are to greenwashing claims. That means focusing on the key proof points needed to substantiate ESG efforts.  

But most importantly, CMOs recognize that ESG has become a customer preference and a strong one. People want companies to make less harmful products and to behave responsibly. It’s no longer possible to think that only subsets of consumers care about the planet or labor practices. It’s a trend that will only intensify. 

We’ll see more businesses realize that ESG shouldn’t be thought of as a single set of initiatives. It’s a commitment a company makes, which then translates into many facets of operation and consumer engagement. 

5. Rewrite Their Personal Purpose 

Many CMOs are facing a significant amount of internal and external headwinds which can lead to a sense of frustration by not being able to deliver the impact they’re looking to achieve. While their creative energy and strategic skills may have propelled them to the top job, the harsh challenges of the last few years have sucked much of the fun out of their careers. Bludgeoned by the Great Resignation, skirmishes over hybrid work policies, positions that seem unfillable and looming economic storm clouds, many feel more like survivors than visionaries. They have less freedom to be creative. And motivating teams while managing department-wide burnout takes much more of their time than it once did. 

While the last few years may have presented a number of challenges, there’s ample opportunity to start taking their purpose-branding lessons to heart and redefining their career goals. Expect to see CMOs applying the lessons from tough times to dig deeper for motivation and find new ways to reignite their passion for marketing. Their goal is to transform resilience from a corporate buzzword to a personal mantra. 


FINAL THOUGHTS

We’re not surprised that the average CMO tenure hovers at 40 months, the lowest in a decade. Periods of constraint are inherently more demanding than growth spurts, and CMOs have to do more with less. But cutbacks also fuel innovation. We expect to see CMOs build trust with customers by leaning into personalization. They’ll find new ways to collaborate, forming creative partnerships that span silos. They’ll enrich their brands with thoughtful experimentation. And in doing so, they’ll unlock uncommon growth–even in a recession.

The post CMO Focus: Five Trends to Watch in 2023 appeared first on Business Transformation Consultants | Prophet.

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