Only 12% of marketing organizations are ‘extremely satisfied’ with current outcomes realized as direct result of their company’s marketing investments, this according to the latest STATE of MARKETING 2017 research. Harvard Business Review study found that only 15% of marketing and sales organizations have the right talent, processes and tools to perform at the highest level.
To learn more about high performing marketing organizations, Ray Wang and I invited one of the top chief marketing officers (CMO), and digital business transformation thought leaders, in the world to our weekly show DisrupTV.
Joanne Moretti is the SVP & Chief Marketing Officer at Jabil, and General Manager at Radius Design. Moretti has a universal reputation of driving transformational business outcomes by focusing on developing and cultivating a customer focused culture of innovation, superior quality, agility, sustainability and scale. Moretti has spent 30 years in the high tech and software industry and today proudly servers on the Executive Leadership team at Jabil, a U.S. based design, manufacturing and supply chain services company with 180,000 employees and $18.4 billion in annual revenues.
Radius Design is an innovation and development firm organized to help companies define a strategic path to success and then realize it through superior, user-inspired design and execution. Moretti is the GM at Radius Design, responsible for managing the design firm to drive high value growth for Jabil’s shareholders. Prior to Jabil, Moretti was the VP/Chief Marketing Officer of Dell’s Software division. Before Dell Joanne was the first VP and Dean of the award winning HP Sales University. Moretti is an industry thought leader and is frequently quoted and featured in numerous industry and media publications. Moretti is also a Six Sigma Master and a brilliant follow on Twitter at @JoannMoretti. Her Twitter bio reads: “Advocate for women in STEM and generally helping customers leverage technology as a weapon of mass disruption.”
Moretti spoke to us about the humility of Jabil and their past tendency to not publicly market their incredible global design, manufacturing and supply chain services. Today, Jabil is helping companies around the globe shift from being only product companies to Internet-connected products and services companies. Jabil guides companies develop purposeful innovation, building products and services that fuel growth and customer advocacy through digital business transformation. Today, Jabil is helping companies develop internet connected products, capable of collecting and analyzing data to help identify new business model innovation and improved service delivery opportunities.
Today, the most valuable companies in the world are software and data companies. Every business is trying to become a software business.
In a Digital Economy, Marketing is About Effective Communication and Connections
In the digital economy, one of the most important roles of marketing in business is to be the glue, according to Moretti. Marketing is bringing the parts of the organizations together to drive digital transformation. Digital marketing is not digital business, it is so much more. Communications about change management, both internally and externally, is a key function for marketers. Organizational change – people, process, tools and ultimately culture – requires a clear understanding of the mission.
Moretti advises CMOs to recognize the importance of being a communicator and connector. Marketing is the most important mission critical success factor to drive change. Being the communication vehicle, the glue, and the function that helps drive alignment is the most important role of marketing, according to Moretti.
Early Customer Conversations Accelerates Concepts to Commercialization
Radius Design is the tip of the spear with Jabil. So many customers come to Jabil to determine what to build and why. Moretti shared with us a customer case study around oral hygiene with a company called Onvi. Onvi collaboration with Radius delivered innovation for oral healthcare, using a connected brush that helps create new business model innovation, while improving the quality of health. Moretti also shared with us the possibilities of using virtual reality in retail. Moretti advises companies to design for manufacturing and scale. She also strongly emphasizes the importance of pricing – the wrong pricing model can kill a product or service.
The Unprecedented Velocity (Speed and Direction) of Innovation Requires Innovative Marketing
Moretti spoke to us about urbanization and the need for smart cities and improved healthcare infrastructure – by 2020, 80% of global human population will be in cities. According to Moretti, the aging population will grow the human population to over 8 billion by 2025 – driving the need for businesses to improve service delivery through personalization, immediacy and intelligent products and services. Technologies like cloud, mobility, big data, artificial intelligence, IoT and VR/AR will disrupt existing companies and drive creation of new business models. Combination of technologies like AI and CRM platform will drive and grow economies to a tune of $1.1 trillion more revenue and 2 million new jobs. Companies are fighting to stay relevant by working with Radius Design and Jabil to identify new ways to compete in the age of the connected customer.
We You are a Dog, Don’t Try to Be a Cat
Moretti advises companies to digitize what you do best – for Jabil, that’s supply chain management. Do what you do really well, and close adjacency, and invest your talent and investment to further improve true differentiation of your company. Keep doing what you’re good at, and continue to build on adjacencies.
There is definitely transformational design and innovation nirvana at Jabil and Radius Design. Moretti and her team work closely with companies to develop leading-edge capabilities that are designed for manufacture-ability and scale. She is also marketing the capabilities of one of the most successful design, manufacturing and supply chain services company in the world with Jabil and Radius Design. Moretti is pioneer CMO and a design and innovation expert. She is doing an incredible job of guiding companies, helping them bring concepts to commercialization in record time. To learn more, please watch our video conversation with Joanne Moretti.
Sourced from HUFFPOST