Article

Kevin Adema
Kevin Adema 28 March 2017

Coke’s Global CMO Backed Away From Digital. And it might have cost him his job.

Indeed, digital has climbed to the C-suite of priorities and Coke’s actions are paving the way for a complete rewiring of what’s working and what’s not.

Coca-Cola is overhauling their marketing approach and says good-bye to Global CMO, Marcos de Quinto. Moreover, in this new era of marketing, the global beverage giant has removed the CMO position altogether and new CEO, Mr. James Quincey has a direct line to digital as CIO Barry Simpson is now a direct report with a role of: increasing visibility and focus on efforts to digitize all aspects of the company’s business.

Albeit the departure was handled with grace and respect, it draws into question how only a few months ago, de Quinto spoke at a US beverage industry conference citing: “Social media is for those who don’t have a true digital strategy,”. Moreover, in his work: “Facebook ‘freaking everyone out’ as Coke makes global swing back to TV”, Anthony Fitzgerald, CEO of MCN offers poignant insights when he states: “I’m convinced the [marketing] industry needs a complete rewiring in how it understands and prioritizes advertising effectiveness and therefore the investment weighting to some channels over others in the media mix.” 

Indeed, digital has climbed to the C-suite of priorities and Coke’s actions are paving the way for a complete rewiring of what’s working and what’s not. The swing back to TV and away from digital might not have been the right approach after all…

Couple this with the recent study done by Spencer Stuart in where they cited a very “uncertain world” for CMO’s. Covered in Marketing Week’s article, the study directly calls out how: “The average tenure of chief marketing officers in the US has dropped for the first time in a decade, meaning marketers now have to work even harder to prove their worth to the board.”

Marketing is under massive pressure to act and perform in today’s digital world and it better be done quickly. Carmen Bekker, management partner at J. Walter Thompon London supports this act-now pressured reality: “Marketers known to have a stable set of competitors and a logical set of customers have had this thrown up in the air by technology. As such, CMOs need to be ever more responsive, much more agile in their plans and more accountable for their success and failures”

Said bluntly: digital has the marketing world in flux. The pressure is on and marketing is now more accountable than ever before. In earlier work where we discussed the Digital Tipping Point, the Adobe 2017 Digital Trends report showed how brands must embrace the new pivotal digital realities but ultimately, how the: “digital transformation, which is intrinsically linked to creating a customer experience, requires the orchestration of numerous moving parts.”

Coca-Cola’s no longer has a CMO role but digital is definitely on the C-level priority list. The question looms: will marketers be included by making the necessary changes or will they get trimmed away in the global pursuit of a brand that delivers meaningful customer experiences.

3 months ago, digital was still in question.

I think the question has been unequivocally answered. Digital is here to stay and marketers have to prove their worth…and quickly.

Original Article

 

 

 

 

 

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Personalize Your Marketing Using 15 AI-Powered Prompts

Personalize Your Marketing Using 15 AI-Powered Prompts

Personalization has undoubtedly become one of the key elements that marketers shouldn’t ignore or underestimate any longer. With consumers increasingly expecting tailored experiences, the ability to customize...

Georges Fallah
Georges Fallah 30 May 2024
Read more
How to Review a Website — A Guide for Beginners

How to Review a Website — A Guide for Beginners

A company website is crucial for any business's digital marketing strategy. To keep up with the changing trends and customer buying behaviors, it's important to review and make necessary changes regularly...

Digital Doughnut Contributor
Digital Doughnut Contributor 25 March 2024
Read more
Craft the Winning Experience: A Deep Dive into Customer Experience (CX)

Craft the Winning Experience: A Deep Dive into Customer Experience (CX)

Understanding Customer Experience (CX) is crucial for business success. This blog explores CX, trending questions, and the Future of CX. Learn how to craft exceptional experiences that keep customers coming back for...

Sukhdev Singh
Sukhdev Singh 5 June 2024
Read more
7 Reasons Why Social Media Marketing is Important For Your Business

7 Reasons Why Social Media Marketing is Important For Your Business

In the past two decades social media has become a crucial tool for marketers, enabling businesses to connect with potential customers. If your business has yet to embrace social media and you want to know why it is...

Sharron Nelson
Sharron Nelson 29 February 2024
Read more
The Impact of New Technology on Marketing

The Impact of New Technology on Marketing

Technology has impacted every part of our lives. From household chores to business disciplines and etiquette, there's a gadget or app for it. Marketing has changed dramatically over the years, but what is the...

Alex Lysak
Alex Lysak 3 April 2024
Read more