The end of marketing departments?
Are Marketing Departments and CMO’s on the way out as a way of doing business?
Gerry Riskin talks about a recent law firm management consulting conference in Sydney, Australia.
A consultant from McKinsey related that this major consulting organization does not have a marketing department. The reason, according to the presenter from McKinsey, is that each professional operates on what they call the “2/4/8” principle. They are working on 2 assignments simultaneously; they are in the process of making 4 proposals for new work; and they have 8 other prospects in sight.
This may coincide with Coca-Cola’s announcement that it is eliminating the position of CMO! How can arguably the best marketing company in the world eliminate the marketing position? Can this be true? Yes, according to the CMO himself.
These two items, juxtapositioned as they are suggest that the marketing function is being pushed down, organizationally, to the level of the folks in the field, the professionals responsible for interacting with the clients/prospects, with some organizational assistance. But, the real push will be the creation of one-on-one personal relationships in order to increase business.
What a novel thought: People buy from people with whom they like to do business! A relationship approach!Tags: Marketing
Categorized in: Marketing