According to a recent McKinsey article, now is “when companies can make the kind of pivot that strengthens their growth trajectory for the next several years.”
The pandemic forced brands to rethink their marketing strategies to meet a fickle workforce and shifting customer demands. While these adjustments have been disruptive, it’s also given brands pause to reassess their foundational values and marketing alliances.
No two company cultures share the same DNA; cultural incompatibility can further strain employee engagement and retention when growth and productivity are needed most. As brands budget and strategize their moves for 2023, who they pivot with is equally as important.
Operate within a center of excellence
How a marketing partner operates is imperative. It signifies their dedication to optimize the right resources and talent for a brand’s success. Working with a partner that operates within a center of excellence (CoE) ensures a unified, structured focus on precision and high performance. A CoE foundation gives brands access to subject matter experts, continuous innovation and the latest technology to drive speed-to-market across multiple channels from digital and social, to email and print, and more.
Reiterated in an article from Forbes: “… to win and retain customers, marketers must innovate radically to create and deliver consistent, personalized and engaging customer experiences. Realize that (brands) can no longer count on the tried-and-true marketing strategies that worked pre-pandemic.”
From using the latest creative technologies, to evaluating and optimizing processes, a CoE structure opens doors to new perspectives that support brand innovation, ultimately cutting through today’s crowded media landscape to improve the customer experience. With a CoE foundation leading and managing each creative and delivery task, brands will find they are freer to focus on big picture strategies.
Exemplify a culture rooted in DEI
According to the 2021 Edelman Trust Barometer, diversely represented companies are more likely to out-earn their industry peers, and likewise, the opposite is true for those lacking in diversity. And according to a McKinsey article making a similar point: “Many organizations recognize that focusing on DEI is simply the right thing to do, but research also finds that prioritizing it is good for business.”
Brands that champion DEI within their organization should seek the same in a marketing partner. Internally, look for a partner with an inclusive and diverse culture represented through best practice hiring, DEI training, education and employee engagement activities, as well as supplier diversity fostered through mindful selection and management of diverse supplier groups.
Externally, the marketing partner should champion LGBTQIA+, people with disabilities, women, the aged, people of color, veterans and other marginalized groups in their communities. Equitable standards supporting a diverse and inclusive culture are at the core of bias-free and stereotype-free marketing. Diversity front-runners that deploy an authentic, systematic and bold approach to DEI without fear are most likely to reap the rewards. Now is the time to be even bolder.
Adopt end-to-end sustainability
Aligning with a marketing partner that upholds ethical, environmental and socially responsible practices will help brands in their own pursuit to reduce carbon emissions and energy and water waste in end-to-end supply chain deliverables. EcoVadis and AdGreen are a couple of accreditation organizations that have standardized how to benchmark and monitor sustainability performance and environmental impact. Following the UN Global Compact’s 10 principles can also help brands and their marketers jointly adopt sustainability as an integral part of their culture.
Developing sustainable packaging is one example of how to be environmentally responsible. Consider these benefits as reported in Forbes, “… for every ton of plastic recycled, 7.4 cubic yards of landfill space is saved, and [it] reduces the release of toxic pollutants.” Furthermore, today’s consumers are product-savvy and are more likely to trust and purchase from companies who repurpose, repackage and reuse their packaging materials.
Align values to strengthen growth and loyalty
To win and retain customers and employees in 2023, brands need a true marketing partner who is ESG-aligned, operates within a CoE structure to optimize resources for growth, and is kindred in overall culture, core values and purpose.
Cemented in integrity and forged with trust, the true value of a brand-marketing partner allyship is evident when successes result in continued brand loyalty.
