Innovation Framework Design

Client Project Briefing

AMS Learning, agile

Learn how we initiated an Innovation Framework Design to help CMOs align their marketing initiatives with the strategic objectives. Recognizing the potential for regional CMOs to more closely align with the company's strategic goals, the client C-suite team sought our expertise. What began as a “learning event” evolved into a comprehensive project that included meeting interventions, idea generation sessions, and facilitated “thinking” groups. These activities highlighted the importance of defining and articulating actions around innovation, seamlessly integrating them into the firm's strategic objectives.

Client

The client is a multi-national insurer, wealth management and financial advisor with a significantly diverse and geographically leadership team and customer base.

Challenge

Help the CMOs think about marketing initiative “manifestation” through the filters of culture, demographic, generation and product mix. The teams had varied levels of agendas and with some steadfast old school vs. new wave thinkers in the group, we needed to use “conflict” as a positive influence on the process. Ultimately, the cohort needed to enhance the way they collaborated and thought about innovation within each vertical of their sphere of influence.

Solution

We designed a sub-set to the CMO team that spanned a wider cross-functional gap, pairing CMOs that had never collaborated before. The first sessions were structured to educate each of them on the others' regions. We then created a strategically aligned marketing plan with definitions, goals, and risks & assumptions. Once this data collection process was complete, we litmus tested it all within a SWOT analysis exercise. The results between the cross-functional groups varied widely from the old-school groups and illuminated without any doubt that more diversity and transparency were needed to generate the results the firm needed from the marketing effort. Through this analysis, we guided the teams toward new ideas, shared vision, and better macro alignment. This was accomplished by building a culture of innovation and then cultivating thought leadership, idea generation, and thinking modes to baseline as the norm across the group.

In a dynamic landscape where marketing initiatives constantly evolve, it’s essential for Chief Marketing Officers (CMOs) to approach their strategies with a fresh perspective. To achieve this, we introduced an innovation framework that considers various dimensions, including culture, demographics, generational nuances, and product mix. We encouraged CMOs to view marketing initiatives through the lens of cultural context. Understanding cultural nuances allows for more effective messaging and resonates with diverse audiences. By segmenting their target audience based on demographics such as age, gender, and location, CMOs could tailor their campaigns and offerings accordingly. Recognizing that different generations respond differently to marketing, we urged CMOs to adapt their strategies. For instance, Gen Z might prefer social media engagement, while Baby Boomers might value traditional channels. Considering the portfolio of products or services, CMOs could align marketing efforts strategically, as each product may require a distinct approach.

The CMO teams had varying agendas, with some advocating for traditional methods and others championing innovative approaches. Rather than viewing this diversity as a hindrance, we leveraged it as an asset. We intentionally fostered healthy conflict. By encouraging respectful debates, we harnessed opposing viewpoints to fuel creativity. The clash of ideas sparked innovative solutions. Old-school thinkers brought stability and experience, while new-wave thinkers injected fresh ideas. The challenge was to find synergy between these contrasting viewpoints. We emphasized collaboration within the cohort, as cross-functional teams shared insights, challenged assumptions, and co-created strategies. Each vertical, such as product, channel, and market segment, needed its own innovative approach. CMOs explored disruptive ideas specific to their domain. By breaking down silos, the cohort could collectively elevate their marketing game. Collaboration across functions and departments led to holistic solutions.

Benefits

In summary, our innovation framework empowered CMOs to think beyond the status quo, embrace conflict constructively, and collaborate effectively. As they navigated the intersection of culture, demographics, generations, and product mix, they discovered new avenues for impactful marketing initiatives. This approach led to higher morale within all CMO regions at the sub-team level and fostered more overt collaboration between CMO regions, resulting in increased innovation and creativity.

The solution also highlighted skills gaps within the CMO group that required training solutions. By encouraging thoughtful planning before design, build, and launch, the organization experienced fewer marketing campaigns and spend, but with higher impact. This process led to the development of a CMO peer review process and a "seat at the table" program, which allowed CMOs to rotate through C-suite meetings.

Additionally, a CMO strategic planning template was developed, driven by and inclusive of innovation at its core. These initiatives ensured that CMOs were well-prepared to tackle future challenges and contributed to the overall success and growth of the organization.

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