NEW YORK, April 29, 2021 /PRNewswire/ -- The Global CMO Growth Council, representing 1,200+ chief marketers from some of the world's leading brands, is advocating to, once-and-for-all, establish a clear, universal path for marketers to help drive business growth and benefit all of humanity.
During its inaugural B4H Summit, the Council's leadership shared the new 'B4H' (Brands for Humans) Growth Platform: a framework that rewrites the rules of marketing that is better suited for modern businesses and their consumers alike. The B4H platform provides a clear vision for organizations to distinguish themselves with their stakeholders – their customers, employees, and shareholders – as a force for good and a force for growth.
The Council used this special gathering to unveil several outputs from the ambitious initiatives started over a year ago, arranging the day's agenda around sharing the insight of the CEOs, CMOs, and Academics who are leading the modern business revolution. With 100+ CMOs in attendance, the day included never-before-released findings from the Yale Center for Customer Insights at the School of Management's recent study on stakeholder capitalism with implications for CMOs, as well as intimate roundtable discussions with Fortune Media CEO Alan Murray and Association of National Advertisers CEO Bob Liodice. The unprecedented gathering of industry leaders signals a paradigm shift in the marketing industry, where CMOs and business leaders are collectively stepping up to drive the industry's future in a more active and collaborative way.
"This moment is widely viewed as being long-overdue for the industry," said Nick Primola, EVP, Global CMO Growth Council. "For too long, marketing has been labeled as "business to consumer" (B2C) or "business to business" (B2B) -- but business TO anything falls far too short of creating the potential value that is required of modern corporations. Redefining marketing's mission as 'B4H' elevates marketing's mission in a way that aligns with the company's responsibility to create real value and address human needs in innovative ways for the people they serve."
Adoption of the B4H Growth Platform is vital for CMOs to deliver on the promise of "stakeholder capitalism" as a force for good and a force for growth. The impact of a global pandemic and recession, combined with racial injustice around the world, exacerbated the need for chief marketers to guide the development of operational business systems to accelerate the economy and reinvigorate the worldwide community.
"The role of marketing is, and always has been to grow the business, full stop. What has changed especially over the past year is "how," furthered Primola. "The marketing function has a unique ability, and therefore a responsibility, to elevate its role in a way that helps the entire enterprise extend beyond "ads" and demonstrate real actions that create value for all of its stakeholders. In doing so, marketing must also insist on being held accountable for clear, revenue-driving metrics."
HIGHLIGHTS FROM THE B4H SUMMIT:
Elevating the expectation of marketing's role in business growth will benefit companies and consumers alike. Closing out the Summit, each respective constituency (CMOs, CEOs + Academia) was provided a list of actions that must be taken to ensure the industry can realize the full potential of marketing as a force for societal good and a force for economic growth:
The newly formed B4H Leadership Coalition will reconvene all stakeholders in October 2021 to share what has been done to move the industry forward.
ABOUT THE GLOBAL CMO GROWTH COUNCIL
The Global CMO Growth Council is a partnership between ANA and Cannes LIONS and represents over 1,200 chief marketers worldwide. The Global CMO Growth Council is chaired by Marc Pritchard, chief brand officer at Procter & Gamble, with a leadership team that includes 40 chief marketers from the world's leading brands. Since its launch in 2018, they have mobilized thousands of CMOs and industry leaders around the world to transform marketing into a force for economic growth and a force for societal good. It is a community of influential and distinguished marketing leaders addressing key issues facing CMOs, their companies, and the consumers they serve. Chief marketers hold a privileged responsibility to accelerate broad and bold initiatives that will lead to lasting benefits for their brands, their customers, and our global society.
SOURCE Global CMO Growth Council