Key Takeaways The COVID-19 crisis and its associated conditions have disrupted marketing operations to an unprecedented extent, and the coming months will continue to throw up new challenges that are difficult to predict with any confidence. But the changes that have taken place have demonstrated one thing clearly: Digital technologies will take center stage in the new marketing landscape. We’ve seen how marketers who are well set up to function online, who prioritize data analysis, automation, and make decisions based insights provided by bleeding-edge solutions, are well positioned to come out of the crisis having protected their market share as best they can, with a product offering that has adapted to the market at great speed. Others, who did not have these capabilities in place, have far less of an idea of how to best reach their customers, how to best manage their budget, and how to match market sentiment. The coming weeks, months, and years will reward marketers who now learn the lesson this crisis has presented them with. Building technological capabilities is not an area of marketing and sales that can now be thought of as optional, something nice to have for those who can afford it. Technology and marketing now go hand-in-hand. Realizing this and doubling down on innovation is the strategy which will best serve marketers in a post-COVID-19 world, setting them up not just to survive in the short term, but to thrive in the future. "Marketing and sales leaders need to do everything they can to understand how their buyers and consumers have adapted to the post-COVID-19 world, and meet them where they are, leveraging technology to keep track of behavior and using it to inform campaigns, messaging, and, most importantly, product/market fit adaptations."
The Digital Imperative for CMOs | BCG Page 22 Page 24