How marketers will win
Six marketing visionaries describe how in five years marketing will be transformed
The Economist Intelligence Unit (EIU)
Marketing is on the ascent. It has frequently led at big consumer products companies. Now its influence is growing everywhere: at B2B companies, professional services firms, companies dominated by engineering or logistics. You can see marketing’s rise on business bestseller lists, on YouTube playlists, in the new brands that have broken away and differentiated themselves, and in the explosion of marketing start-ups (and what investors are paying for them). Marketing is becoming a more powerful and resource-rich function of business. In today’s digital world, marketing is the function responsible for creating and sustaining a long-lasting relationship with the most important asset of any business—the customer.
In an always-on world, consumer expectations are changing. As a result, the nature of marketing itself is also changing—data, digital, social, mobile, analytics, real-time agility—these have all become part of the vocabulary of numerous business articles and conversation. Thus marketers need to shift their focus from pushing messages at people to engaging them in an ongoing conversation and relationship. The speed, direction and magnitude of the changes in marketing have been widely discussed. It is not as clear, however, where marketing will end up (and what marketers need to do to ensure that they aren’t disintermediated by a small group of 20-something programmers).
The Economist Intelligence Unit spoke with six marketing visionaries around the world and posed a question: “The world of marketers today has changed drastically from what it was ten years ago. What will it be like in 2020? And what do marketers need to forge a winning career path over the next five years?”