Persuasion, Personalization, Strategy

Our weekly CMO Council newsletter on LinkedIn provides key CMO insight:

·???????? How marketers can better persuade consumers

·???????? Marketers must have GenAI strategies for their organizations

·???????? Accelerate personalized human interaction at QSRs

·???????? What’s most likely to impact marketing spend?

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How Marketers Can Prevent Their Message Being Lost

The conscious persuasion model employed by marketers is based on three things: more, more, and more. “This focus on “more” creates a world in which marketers are constantly yelling in their audience’s faces, pushing them to buy, prodding them to choose what they’re offering, in an attempt to convince them to do their bidding. But truth is, this either goes in one ear and out the other or turns people off altogether,” writes Leslie Zane, author of the new book, The Power of Instinct. Still, this model is employed by marketers and ad agencies across the world, tricking most of us into thinking it is the best way to convince someone to do, well, almost anything. And this marketing model of “more” is a relic from the past, explains Zane. Marketers instead, need to understand more about how the brain works and how we are persuaded to make buying decisions. Find out more about the fallacy of persuasion and how to better reach customers

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Leveraging Data, Technology and AI

The rate of innovation in the last decade can be described as a frenzy, especially with Generative AI. CMO Council Advisory Board Member for Africa, Judy Gounden, highlights that 78% of AI users are bringing their own AI to work and employers need to figure out strategies to support staff who are afraid of losing their jobs if they embrace AI openly. What is important is that marketing leadership is able to manage the rate at which this AI change is happening within organizations and provide Governance around it to extract maximum value. The fact is that 75% of people are already using AI at work, with or without the support of their organization. Gounden’s advice to marketers is this, “Look beyond your industry and explore partnerships that can bring fresh perspectives and innovative solutions. Collaborate with diverse stakeholders and adopt a learning culture for yourself and those around you. Be open and lean into change and embrace it. Check out new AI tools for yourself.” Read or watch the full interview now

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Remodelling The Drive-Thru Experience

The drive-thru channel has grown in size and importance as a result of the nation’s post-Covid appetite for speedy, tasty, convenient and affordable meals away from home. The consumer shift to drive-thru, take-out, pick-up, and doorstep delivery services underscores the massive growth of the convenience economy. Yet drive-thru operations remain largely unchanged, resulting in inconsistent and long wait times, impersonal service, inaccurate orders, and irate customers who are now at risk of brand abandonment. This is the finding from the research report by CMO Council with uKnomi: Real-Time AI Interaction at the Point of Transaction. Far too many QSRs are playing it safe and hitting the breaks on digital transformation. Given the fact that 70% of fast-food sales come through the drive-thru, QSRs instead need to shift into high gear and adopt “in-the-moment” marketing systems to identify customers and accelerate personalized human interaction. This is how to improve efficiencies and boost revenue

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Differences In B2B And B2C Impact On Spending

There are subtle-yet-significant differences in B2B and B2C/hybrid perspectives on what’s most likely to impact marketing planning and spend. For B2B marketers, the top factor is economic climate. For B2C marketers, it’s corporate financial performance. Our CMO CouncilCMO Intentions 2024 report found that, typically, B2B companies target customers making long-term, high-value purchases and their marketing budgets are a lower percentage of revenue. B2B companies and their customers also allocate investments, spend and capital expenditures based on long-term economic outlook. Whereas marketing budgets of B2C marketers are a higher percentage of sales and more tied to short-term, quarterly or annual performance. B2C marketing budgets are frequently adjusted by finance based on rapid shifts in market demand, channel sell-through/inventory build-up, competitive or market pressures or overall business performance. Download the report to find out what is most likely to impact marketing planning and spend this year

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