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New Ways of Thinking and Operating are Required for Brands to Evolve into Differentiated Leaders
NEW YORK & BANGALORE, India, July 27, 2021--(BUSINESS WIRE)--Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company and Designit, a Wipro company, today announced the findings from a new global Chief Marketing Officer (CMO) survey of more than 1,000 marketing leaders around the world. The study identified three types of CMOs, and how leading companies have adapted to the market disruptions caused by COVID-19. The findings offer a comprehensive look at how brands and their CMOs responded to the global pandemic, and the strategies they are prioritizing as they build momentum towards recovery.
Though every CMO responded differently to the crisis, the study identified three distinct personas:
The Disruptor - Approximately 9% of CMOs avoided conventional tactics and adopted radical new strategies in the face of uncertainty
The Progressive - Roughly 60% adopted bold and innovative tactics, but based their decisions on past experiences
The Traditionalist - The remaining 31% favored the tried and tested methodologies to reach customers
"This research offers insights to marketers on how to succeed in the face of significant challenges. It revealed that disrupter personas are poised for success in an era of uncertainty and increased expectations. Guided by brand purpose, the disrupter displays an unwavering commitment to customer experience (CX), and driving actionable intelligence from data insights that allows for continued success," said Rajan Kohli, Managing Partner - Integrated Digital, Engineering and Application Services, Wipro Limited.
84% of CMOs also agreed that one of the most significant challenges in their field is the application of data and marketing technology. While they can outline the need for robust marketing technology and data, 70% still feel that there is a gap between the current capabilities of these solutions, and their vision. To complicate matters, 12% were forced to sacrifice investment in this vital area during 2020, as companies made COVID-related cuts.
Other key findings from the research include:
Within the next two or three years, 82% of marketing and CX leaders plan to create new types of content and generate experiences to gain a sustainable, long-term competitive advantage
62% of marketing and CX leaders cite the need for a 360-degree, data-driven view of their customers
81% of marketing and CX executives are betting on employee engagement as a competitive strategy
70% of executives are prioritizing implementing purpose-led initiatives to become or stay industry leaders
61% of companies are prioritizing design thinking as a business strategy to become leaders
"Over the last 18 months, brands have had to react to unforeseen global changes. Customer and employee needs and expectations changed rapidly, and priorities were redefined. In the face of a public health crisis that pulled us in different directions, empathy and human connection became the key ingredient for brand survival. Brands that changed strategy quickly and put the human experience before commercial gains thrived the most," said Sunil Karkera, Global Managing Director, Designit.
The study may be downloaded at designit.com.
About Designit, a Wipro Company
Designit, a Wipro company, is a global experience innovation firm. We use strategy, technology, marketing, and design to turn complex and systemic problems into new opportunities, thoughtful, holistic experiences. Together with progressive, long-term partners, we craft, launch and continuously optimize products, services, brands, and systems that turn change into progress throughout organizations, brands, and beyond. To learn more, follow us @Designit and visit www.Designit.com.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 200,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
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