Impacting culture: Purpose and values are the domain of CMOs

Twelve years ago, a major management consulting firm made a bold prediction. It forecast that “few senior-executive positions will be subject to as much change over the next few years as that of the chief marketing officer.”[1]

To those who weren’t paying attention, this didn’t make much sense. CMOs were mainly in charge of advertising, brand management, and market research. But behind the scenes, CMOs’ roles were broadening, strengthening the link between marketing activities and sustainable performance.

At the same time, they became charged with bringing a sense of purpose to their company and broadcasting that purpose to the world at large.

Today’s CMOs understand that not only does purpose go way beyond advertising and brand management, it even goes beyond Corporate Social Responsibility. Purpose is now following the path taken by digital and becoming an essential part of an organization’s operational fabric.

But this didn’t just happen. This is the result of a carefully planned strategy to transform a company’s approach to its marketplace and its customers. Linking your corporate brand activities to purpose like this can be very rewarding—as well as difficult and complex to implement. A purpose-driven approach requires strategic leadership buy-in, and a commitment to drive change. It is not a simple process, which is why companies are increasingly turning to consultancies to help to conceive and execute the strategy, and leverage the power of creative thinking to break through and engage with their key audiences.

When they do, they often discover that purpose attracts, empowers, and inspires employees, particularly those who are specifically looking for a company with a vision and values they can believe. Of course, the more inspired your employees are, the better the output: hiring purpose-driven employees can result in increased productivity, higher retention rates, and more effective collaboration.

And, because CMOs are responsible for generating revenue for their companies, it’s easy to see the value of having purpose-driven employees as a major part of the workforce.

No wonder research reveals that for CMOs, purpose is becoming a critical priority, reaching the “top two” list at 79% of companies.

So it tees up the following question: Is your company linking your corporate brand activities to purpose?

To learn how MerchantCantos can help you put purpose to work, get in touch with us.

1 https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-evolving-role-of-the-cmo

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