Listing on the stock exchange is a significant moment for any business. It opens opportunities for growth, invites new audiences to engage and creates a buzz around who and what you are.
Peter Drucker, the godfather of modern marketing, famously said: “Because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: marketing and innovation.” In an era of digital disruption, brands need to innovate to stay relevant in a customer’s mind and deliver on customer experience – and the only way to do so is through marketing.
This means that organisations are now shifting to become more agile, compelling everyone within the organisation to play a role in the customer engagement process. In doing so, businesses will be more responsive and be able to form deeper and meaningful relationships with not just with the customer, but also externally with vendors and the industry.
While there are no hard and fast rules, the first step towards agility will require management to relook at an organisation’s structure. Where traditionally, the responsibility for all communications and engagement lies within the marketing department, agile organisations will implement a marketing culture and encourage inter-departments to work collaboratively. In an ideal agile environment, structures are flat, paving the way for more participation, responsiveness, independence and transparency.
Also important is how marketing is defined within an organisation. Today, marketing is more than just communications, advertising and public relations. Marketing now represents end-to-end customer experiences – the bread and butter of brands. This means that marketing now serves branding instead of the other way around. When an organisation is able to comprehend the importance of marketing in creating a positive brand image, it will have to adapt its overall strategy and adjust budgets accordingly to accommodate its efforts. This will also require employees to be more involved and contribute more to the business.
At uberbrand, we’ve recently undergone a restructure to make way for a more agile environment. Teams whether it’s design, strategy or operations work closely together and interchangeably, without bias in order to produce better work and in turn, better serve our clients to solve their problems or manage their brand. Walls have been brought down (literally and figuratively) where employees are encouraged to question thinking from every angle. Where the single-minded objective of the agency is to have a consistent messaging in order to succeed, marketing is now top of mind for everyone within the business.