Digital change over the last 20 years has made the impossible possible for many entrepreneurial thinkers. This has lowered the barrier to entry to new markets and provided access to resources, funding and infrastructure to scale quickly. The availability of such resources is forcing companies with dominant market share and large marketing budgets to rethink business as usual, or face serious consequences. Business as usual is – frankly – a death wish for the enterprise.
To compete against new entrants and disruptors, many enterprise companies need to transform their businesses, which often begins with a digital assumption. But digital itself is not the point. It’s an enabler that can help or hinder depending on how it’s applied. Too often, enterprises conflate strategy with tool selection. Looking internally and only at your direct competitors is a common blind spot for enterprise CMOs and often the quickest way to “get knocked off your horse.”
A couple months ago, I crowdsourced questions marketers had for startup CMOs which helped shape the panel interview I did at our Digital Marketing Conference in May. Thanks to your input and the participation of four inspiring startup marketing leaders, we just published research outlining “Five Key Principles Enterprise Marketers Can Learn From Startups” (subscription required). CMO clients can use the research to learn how to:
- Adopt agile concepts to increase speed to market
- Create a space to incubate new ideas
- Drive growth using a “See More, Win More and Keep More” approach
- Hire new roles to lead in content, data and technology
- Enable a culture of entrepreneurial thinking