Governance beyond the boardroom: What marketers need to know

This is my second year attending AICD's annual Australian Governance Summit, this year themed "Beyond the Horizon" and it didn't disappoint.

We heard from many esteemed speakers including John Mullen, Tim Trumper, Brad Welsh and Jingmin Qian who all provided invaluable insights. 

While these discussions are vital for directors, they also offer important lessons for B2B marketers. Understanding what these industry leaders are most focused on can also help steer our priorities.

Some key takeaways for marketers

• Embracing AI for marketing innovation: The summit highlighted AI's transformative power, which can enhance marketing strategies by automating tasks, personalising customer experiences and analysing vast amounts of data. As marketers there is a huge opportunity to leverage AI to stay ahead of the competition and adapt to changing customer behaviours.

• Engaging directly with frontline staff and customers: This was a great reminder that although we have some much tech and data at our fingertips, to truly understand pain points and evolving customer needs, marketers must engage directly with frontline staff and customers. This direct interaction can provide invaluable insights into how AI and other technological changes are impacting customer experiences and expectations. By creating open communication channels, marketers can develop more effective strategies that resonate with their target audience.

• Adapting to changing human values: There was a strong emphasis on understanding and responding to evolving societal trends. Marketers should be aware of these shifts and ensure their campaigns resonate with current societal values without appearing insincere or lecturing. This includes being mindful of the social license that companies enjoy and being responsive to changing customer expectations. For instance, marketers should highlight how their organisation adds community or economic value, demonstrating a genuine commitment to societal well-being.

Implementing strategic priorities

Jingmin Qian’s emphasis on the 4 x C's: Curiosity, Clarity of Purpose, Courage and Culture offered a framework for marketers to also align their strategies with broader governance principles. They also help to drive innovation and maintain relevance in a rapidly changing business environment.

Here is how marketers could use this framework

• Curiosity: Encourage a culture of curiosity within your marketing team to explore new technologies and trends, such as AI and understand how they can enhance customer engagement.

• Clarity: Ensure that your marketing strategies align with your organisation's purpose and values, providing a clear direction for all campaigns.

• Courage: Be bold in experimenting with new marketing strategies and technologies, but always with a focus on ethical governance.

• Culture: Embed a marketing culture that values diversity and inclusivity, ensuring that your campaigns resonate with and effectively engage diverse audiences.

Clear strategy and KPIs

For businesses to get the best result and drive productivity, it's essential to have a clear strategy and well-defined KPIs. Strategies should be aligned with organisational goals, leveraging tools like AI to enhance productivity while maintaining ethical standards. With Clear KPIs you can measure the success of marketing initiatives and guide future decisions, ensuring that efforts are focused on driving meaningful outcomes.

As marketers, staying informed about governance trends as well as business and director insights ensures your strategies are aligned with the broader goals of your organisations. By embracing AI, engaging directly with stakeholders, adapting to societal changes and maintaining clear strategies and KPIs, you will drive innovation and growth.

As referenced by Joe Longo (Chair of ASIC) Leonardo da Vinci once said, "Simplicity is the ultimate sophistication." 

In the complex world that marketers face, simplifying our strategies while staying focused on core principles can lead to greater clarity and success. 

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