The role of the CMO has been catapulted to new heights as a result of the digital revolution. As customers around the globe are hyper-connected through mobile technologies, social media, and emerging innovations like iBeacon, the opportunities for customer engagement, heightened brand awareness and personalized direct marketing.
Simultaneously, customers are controlling and dictating brand value in an entirely unprecedented way. Web 2.0 encourages customers to assert their opinions and product experiences through channels like Instagram, YouTube, Facebook and the blogosphere. What happens when those opinions and experiences have a negative twinge?
After Mike Jeffries, CEO of Abercrombie & Fitch stated that he didn’t want the “not so cool” kids to wear Abercrombie products, a man created a video campaign to distribute Abercrombie & Fitch clothing to homeless people in Los Angeles. The video, called “Abercrombie & Fitch gets a Brand Readjustment” and has over eight million views on YouTube, serves as a microcosm for the new power of the customer and of the digital world.
For marketers, recognizing the power of the customer is paramount. The Abercrombie & Fitch experience is a humbling example of the power of the customer’s voice.
This is just one of the many topics of discussion we’ll be tackling at the Transformational CMO program in Dallas, Texas, at the Omni Mandalay.