CMOs Must Make Bold Bets, Says Acko's Ashish Mishra

As the world becomes more digital, fragmented and fast-paced, the world of marketing is shifting at a pace like never before.

Embracing Change

In this era of constant change, marketers must be bold and make decisive big bets to drive growth for their businesses - this was the overarching message from Ashish Mishra, Chief Marketing Officer of Acko in an exclusive interview with BW Businessworld at the Goafest 2024 in Mumbai as we saw the industry adapting to a new normal with change in location.

Reflecting on this year's theme – ‘The Age of Adaptability’, Mishra highlighted that adaptability is a permanent requirement, not a year fad.

“Every year you need to be adaptable. Every generation will have to learn this, reinventing themselves and adapting to the market dynamics,” he said. In today's commercial battleground, chief marketing officers (CMOs) cannot rely on legacy tactics but must continuously adapt their strategies, whether old or new.

Imperative For CMOs

Mishra stressed upon the importance of strong fundamentals in advertising and marketing. "If you have strong brand-building fundamentals, you will always succeed in any market," he stated. However, he cautioned that great fundamentals alone are not enough - marketers must pair them with a willingness to continually learn, adopt new technologies and evolve their approaches.

The ability to make calculated, forward-looking bets separates the marketing leaders from the laggards. Mishra advised, “Strong core marketers who are ready to change and adapt their output always succeed.”

Clinging to what has worked in the past is a recipe for stagnation and decline in this era of perpetual reinvention. Mishra's insights underscore the need for CMOs to embrace a growth mindset, continuously learn and fearlessly adapt to new realities. By making big bets and staying true to their brand-building fundamentals, CMOs can position their organizations for long-term success in an age where adaptability is paramount.

The adaptability imperative has never been more crucial as technologies like AI, Web3, the metaverse and experiential marketing rapidly reshape how brands engage consumers. CMOs must get in front of these trends, making bold bets to capitalise on emerging opportunities. As Mishra said, "There will always be challenges, but if your marketing fundamentals are clear, you will always be successful."

Capturing Global Attention

For Cannes Lions, the premier global awards festival for the creative marketing communications industry, Mishra expressed his hope that India's contingent would have a hopeful year.

“I really hope India has a good year. Frankly, I think India has been having a good year at Cannes,” Mishra remarked. “We're a global creative powerhouse. Cannes has also managed to attract a lot of client interest over the past years, and that has given a lot of advertising agencies some more boost to be able to do edgy work”, he added.

Reema Bhaduri

BW Reporters The author is the Editorial Lead at BW Businessworld. Majorly writes on marketing, advertising, experiential marketing and retail. She closely looks upon the vertical of BW Marketing World and BW Retail World.