Peter Fisk

I’ve been writing books for the last 18 years.

In that time nothing much has changed in the publishing industry. Indeed I remember back to 2002 when I first met Mark Allin, founder of Capstone, who had just founded his business. He was determined to break the mould, and in some ways he did – with early books like The Cluetrain Manifesto (with a funky FT imprint), and Exec Express (a series of over 50 rminibooks, which we curated for a corporate). But then he sold his baby to Wiley, and despite following to become global CEO, his ideas were gradually lost. Eventually he left Wiley, frustrated by their unwillingness to go beyond convention.

10 books later (writing about strategy, innovation, leadership and brands – ironically!), I am more frustrated than ever by book publishers. They seem to have regressed to ever more unimaginative standardisation and conventionalism – the 300 page hardback, in Times Roman font, stripped of any visuality, let alone innovation. Anything to reduce costs, and it seems, put off the reader. Manuscript to market still takes 9-12 months, typically with outsourced editing and typesetting of a poor standard, lacking any ownership or added value. Books are printed, often mass printed in Asia, shipped to Europe, stockpiled in remote warehouses, then shipped back again on demand. Usually too late due to antiquated sales and delivery processes. And often delivered incorrectly.

8 years ago, I teamed up with Joerg Engelstadter, a Canon print executive, who shared a passion to make books better. We created the “Future Book Forum“, and we’ve held it every year in Munich since, attracting around 2000 publishers every year, each year focusing on how to reimagine and reinvent aspects of the book process. It’s generated thousands of ideas, with lots of inspiration, but no real industry-changing action. Until now.

At the FBF22, we focused on sustainable innovation, and also brought together many of the industry groups, from the IPA and EPA to the UN Publishing Compact, and founded the “Publishing 2030 Accelerator” an initiative to catalyse and facilitate cross-industry change. The accelerator is coordinated by Rachel Martin from Elsevier, but with a broad team of industry experts and stakeholders – including Richard Charkin, Michiel Kolman, Jesús Badenes, Dalia Ibrahim, Peter Kraus vom Cleff, Karina Pansa and myself.

In particular it seeks to practically address some of the big problems – unsustainable manufacturing to over-produced waste, inefficient selling to technological aversion. And also to promote the positive opportunities – the power of the book, the written word, to inspire, and educate, and enable.

Future Book Manifesto

As a starting point, we got together to write a manifesto for change. A manifesto that everyone in the industry will hopefully align with, and engage in as a platform for action:

To everyone who believes in the power of the written word,

We believe it is the role of the publishing ecosystem to put sustainability at the heart of our business and operations to ensure that the book, in all of its forms, continues to drive progress towards a sustainable future for both people and planet.

• It is time to take responsibility for the world we create. The book has the power to educate, entertain, promote culture, and stimulate diversity and democracy. We must work to reduce any negative impacts specifically, with regard to the resources, energy, transportation and waste associated with the production and distribution of books.
• We can be drivers of change, putting a sustainability-led purpose at the heart of our organizations and the “smart” innovations we develop for the future. Let us join forces to empower the wider sector to act and challenge the established thinking and processes that often impede progress. Our passion is to transform ideas into reality, to help both our own organizations, and the wider sector, achieve the success which can make a positive impact for people and the planet.
• We shall accelerate action, the time to talk is over. The technology needed to address sustainability is already within our reach. Forget about perfect. The United Nations has called for action on sustainability and a need for an avalanche of action. Let’s build a community of like-minded people to test our powerful ideas and assumptions. We will transform what we consider is “standard” in our industry.
• Let us move forward together, becoming members of the accelerator we recognize we must use our knowledge, passion, and resources to leave no one behind in our sector on our shared mission. We love experimenting and are willing to try new things. We will deliver simple solutions and inspiration that will leave our planet and society in good hands for the future generations.

We who have signed this letter will hold each other accountable for putting these ideas into practice. The stakes are high, the future depends on our connections and the things we create together.

I’ve been running since I was 10 years old. I got started on lunchtime runs with a small group of school friends, led by teacher Mike Henry. We’d run from the Middle School in Rothbury to Carterside farm and back. I still occasionally run on that course now, part of much longer runs when visiting family, but in those days it seemed like a marathon.

My dad had been a good runner in his day and was a huge inspiration, and throughout my school years, he would faithfully take me to Morpeth Harriers training nights, and then to races around the North East of England every weekend. My favourites included the Gateshead Cross Country Races and Tyneside Track Leagues – and then further afield to regional and national championships.

Over the years, I’ve been lucky to run at a good standard – schools champion at 800m and 1500m, and when 16, I was UK Northern Champion too. I ran the first Great North Run from Newcastle to South Shields in 1981 as a 13 year old (91 mins). Now it’s the world’s largest mass participation race, still organised by local hero Brendan Foster and his team, and I’ve run it many times since (sub 70 a couple of times, but I’m getting slower now).

While I was never good enough to make a career out of running, the years of hard training, the buzz of racing, and persistence in searching for my peak performance has definitely helped me in life. I remember rubbing shoulders with world record holder Steve Cram in races, and always beat David Sharpe who later became a world champion. Other training partners like Mark Hudspith at Morpeth and Dan Rathbone at Uni went on to compete internationally, and even win global medals. More inspiration.

45 years on, I’m still getting out there – kicking on my Nike trainers, for a morning 10km wherever I am in the world. My work takes me to so many different countries, almost every week, and there’s always space for my kit in my hand luggage. It means that every trip is an adventure. Once you’ve clocked up your morning run, you’re on a high for the rest of the day.

I’d say that running has made me better in many ways – in particular the determination, resilience and persistence, to always seek better in every aspect of work. Life is a marathon not a sprint, and I’m definitely a long distance runner. Writing 10 business books has taken a lot of self-motivation, the same drive that gets me out for those early morning training runs, particularly in rain and snow. And every time I walk onto stage, I still get that adrenalin surge, like at the start of a race, the catalyst to perform to the best of my ability.

So here, for a bit of fun, are some of my favourite running routes around the world:

Athens, Greece

Athens is an amazing historic city for a morning run. I normally stay at the Intercontinental, which is only a 10 minutes run from the fantastic Panatheneic Stadium, the original Olympic venue made from huge granite blocks. You can have a quick sprint around the track too (600 Greek feet, or 178m, compared to the conventional 400m today). From there I usually head up the Lycabettus Hill for a breath-taking, quadricep-screaming view, and then back down through the city, past the Temple of Zeus, and up Phillopapou Hill – from where you get the best view of the Acropolis, with the iconic Parthenon and its Temple of Nike.

Boston, USA

There’s a beautiful running route around Boston Harbor. Again, I usually start out from the Intercontinental, next to the Boston Tea Party ships, and then follow the pathway around the many inlets to Bunker Hill. It’s an out and back course, so you can always challenge yourself to run faster on the way back then you did going out. Early morning is the time to run, as the pathway gets busy with tourists and workers, which just isn’t good for a fast runner. Boston is one of the world’s great running cities, and there are so many people out early. You can also go find the finish line of the Boston Marathon on Boylston Street near Copley Square, run the last mile, and imagine that epic race between Beardsley and Salazar.

Bushy Park, England

This is home. But also the local training route of 4 times Olympic Champion Mo Farah, and most of the best Kenyan athletes who often base themselves in the town. Actually I moved to Teddington when I started working, because I knew it from the Sweatshop, a famed running store, which used to be located at Teddington Lock. This is where “parkrun”, the free 5km runs for everyone, every week, started back in 2004. Now there are weekly parkruns in 775 locations in 30 countries, with over 3 million participants, although the biggest is still in Bushy Park. There’s a fabulous network of trails in the park, including the outer 7 mile loop which I save for time trials, and woodland gardens which are great for morning runs. Less busy is the adjacent Home Park where you can run along the side of the impressive Hampton Court Palace. Both parks used to the private hunting ground of King Henry VIII of England, and are full of wild deer, so you sometimes need to give them a wide berth.

Caer Caradoc, England

15 years ago we bought a small house in Church Stretton, a small village in the heart of rural Shropshire – because of its beautiful surrounding countryside, not least the tough hills to run up, across and down. The Long Mynd has many routes, but my favourite challenge is up the imposing Caer Caradoc, which has a Bronze Age hillfort on top, and then add in a few more hills – Hope Bowdler, the Gaerstones, and the Ragleth. From the top of Caradoc the view is spectacular – Britain’s highest peak, Snowdon, lies to the west, while you can also see Chester to the north, and Ludlow to the south.

Cascais, Portugal

Just along the coast from Lisbon, actually a fantastic train ride, is the beautiful seaside town of Cascais. The seafront runs are breathtaking, often with the sea often whipping up to splash over the coastal path. Through the small town, cobbled streets and fish restaurants, and out the other side, you are quickly onto a rugged cliff coastal route, the Atlantic Ocean down below is famed for its surfing. Most recently I was here doing a keynote speech for the Sports Business conference, and so naturally started with a retelling of my morning’s 10km.

Central Park, New York, USA

Nothing beats an early morning run in Central Park, particularly on those cool mornings where there is a layer of mist, and then sun breaking through. But you need to get there early. Usually, having flown in from Europe, my body clock is ready to run by 5am, perfect time, although the city streets up to the park are already busy at that time. Later the park is more like a running highway, with cyclists too. Up past the zoo and behind the Met, a loop of the reservoir is always my goal, from where you get amazing views of the Manhattan skyline. You can also run the last mile of the NYC Marathon, and realise how hilly it is.

Freiburg, Germany

One of my university towns back in the late eighties. Living on the bank of the River Breisgau, I was straight onto the riverside path heading west towards Breisach and then onwards to the French border, or east towards Kirchzarten and Titisee. Beyond the river, the lovely cobbled German town is surrounded by the Black Forest, with endless running tracks through the trees and nearby vineyards. At that point in my life, I was researching high temperature superconductivity in a research lab, so it was great to escape from the underground lab into the fresh Black Forest air (and then a glass of Baden wine) at the end of each day.

Grand Canyon, USA

Arizona is an amazing state. In the south, around Tucson, you can head off into the outback with only the most amazing cacti and geckos for company. Driving north from Phoenix you are quickly into the red rocks of Sedona, stunning, particularly at sunset. And then to the canyonlands. Staying in a National Park wooden lodge means you can be up at sunrise, and immediately running along the edge of the canyon. Breathtaking, a little scary too. In winter, you get the whiteness of early morning frosts and temperature inversions, before it is burnt off by the sun.

Hatta, UAE

I didn’t expect to find mountains in the middle of the desert. Drive 2 hours east from Dubai in the United Arab Emirates, and you suddenly find yourself climbing out of the flat sands, and up into the cool rocky mountains of Hatta. Many locals come here in the heat of summer to stay cool. It’s also a great place to organise my week-long executive retreats. And to venture out each morning into the surreal moonscape surroundings.

Hyannisport, USA

Cape Cod has been our family summer holiday destination for the last decade, our children loving the wooden beach houses, endless sand, and relaxed vibe. We usually stay in Hyannisport, which is a quiet hamlet just outside Hyannis, most famous for JFK’s summer house. As I hit the beach road each morning along to Squaw Island and back, I often passed some of the Kennedy clan. Maria Shriver gave me a big high five one morning, and I even sweatily passed Taylor Swift with her then boyfriend on another day. With no work to do in the summer holidays, running becomes the highlight of the day, a time to really put in some miles, to get properly fit again, and enjoy the beautiful sun and sea.

Jūrmala, Latvia

Jūrmala beach is just outside Riga, capital of Latvia. The sand is beautiful, and the nearby forests perfect for running and getting lost. The town itself is a long road of wooden, art nouveau seaside villas and Soviet-era sanatoriums. I’ve visited the Baltics many times – also with great running routes around Kaunas, Klaipeda, Tallinn, Rezekne and Vilnius – but the Latvian people are incredibly friendly, and the countryside beautiful.

Lausanne, Switzerland

Switzerland is a magical place to run, the paths around the lake are typically wooded, and flat. Look up and you are surrounded by towering mountain peaks. Even in the middle of summer, the snow caps are clearly visible. I’ve lived and worked in the country, and there is a fabulous network of mountain races, if you want a quick burst of quad-screaming pain! Lausanne, home to IMD Business School, is one of my favourite places to run, and work. Geneva is a regular location, home to many luxury brands, from cosmetics to watchmaking. Interlaken, venue for the annual XDays conference organised by NZZ, is spectacular too!

Long Island, USA

Turn right out of New York’s JFK airport, and instead of Manhattan, you are quickly in rural Long Island. I never quite realised how big the island was, until I started driving eastwards. Passed the rock star homes of the Hamptons, I headed north to Aquabogue, on the North Fork. Sitting on the dockside I could look across to Puff Daddy’s pad. But running from he, I was quickly into rural wine country – passing some amazing vineyards like Raphael and others. It’s amazing how quickly the tower blocks of Manhattan give way to countryside, while still officially in New York City!

Munich, Germany

For the last 10 years I’ve been hosting the Future Book Forum each year in Munich. Which means, the Englischer Garten has become a regular running venue. You can run for hours along the riverside and through the huge parkland area, where you frequently come across a Hofbrauhaus or Biergarten. No time to stop though. Like most German cities, locals all get around on bikes, so the city streets or riverside paths can be quite a challenge on two feet.

Northumberland Coast, England

This is actually the route of the annual 14 mile Coastal Run organised by Alnwick Harriers, but also a great run to enjoy any or every day of the year. Starting out just south of the mighty Bamburgh Castle, in the small fishing village of Beadnall, you can choose your own route down the coast, following the beach paths or nearby roads. One of my favourite moments was leading a field of almost 1000 runners along the deserted Embleton Bay to the beautiful Dunstanburgh Castle with its iconic tumbling towers. Fuelled by the smell of smoking kippers in Craster, you eventually arrive at Alnmouth, and the River Coquet.

Odense, Denmark

The small Danish city of Odense, named after the Norse god Odin, has become another annual venue, where I have hosted the European Business Forum for a number of years. We’ve brought some of the world’s top business gurus to this small city, which is actually a hotspot for robotics and drones. People like Alex Osterwalder, Michael Porter, Whitney Johnson, Roger Martin, Rita McGrath, have all been here. Out running with fellow director of Thinkers50 Stuart Crainer one morning, we were amazed to find the Athletics Exploratorium at the SDU campus, a crazy athletics track with artificial hills and obstacles. It was voted one of the world’s most innovative running facilities by World Athletics, and is also a test site for exoskeletons and robots.

Oslo, Norway

For runners, Oslo is most famous for the Bislett Stadium, venue of one of the world’s best Diamond League athletic meetings. Since the early eighties I’ve eagerly watched the Dream Mile each year, with world records by the likes of Coe, Ovett and Cram. The small city is easy to explore on a run. I particularly love the waterfront, where you can run for miles enjoying the fjord air. The stunning new Opera House is a particular landmark, and seems to fuse with the water and sky in the early morning mist.

Redmond, Seattle, USA

Microsoft’s huge sprawling campus dominates Redmond, which is effectively a suburb of Seattle. It’s been great to work with the $2 trillion business over recent years, but I’d never got to see the whole campus. One morning, jet lagged I was up at dawn, and spent 90 mins explored every part of the campus – including the building where Bill Gates and Paul Allen first set up the business. The deserted leafy roads are great to run on in the early morning, as is a a run downhill to Lake Sammamish and back.

Retiro Park, Madrid, Spain

As a professor at IE Business School, based in the heart of Madrid, I spend many days in the Spanish capital. El Retiro is a green oasis in the heart of the city, and loved by runners throughout the day. While the locals and tourists boat on the lake in the centre, the perimeter path is pounded by huge numbers of runners. Early evening is particularly busy time, more like a running track, as you keep focused on catching and passing the runners in front. Sometimes I do the 3 mile loop twice, but there’s still the mile-long trek back up Serrano to the Melia hotel, passed all the best stores, when I’m on my last legs.

Rothbury, England

This is where I grew up. My childhood memories are full of endless running on the moors above Rothbury in Northumberland. Around the carriageway of bilberry hill, onto Debdon and Cragside woods. Every morning before school, and evening, I’d be out there. Through the bracken and heather, the skyline of Simonside and Cheviot to the south and north. These days, I get back 2-3 times a year, and always try to squeeze in as many runs as possible. I also love the Simonside loop, over Garleigh and Lordenshaws, and back across the valley.

Rome, Italy

Running really is the best way to see a city. Setting off from Via Guilia, I’m quickly running alongside the River Tiber, past the Castel Sant’Angelo and then down to the Circus Maximus. This is a great place to run laps, imagining the history of the place, centurions and gladiators who commanded the same space.

San Francisco, USA

Golden Gate Park is where I met my wife almost 30 years go. In a running race, of course. I ran well that day, and even better were the prizes, miniature SFO street cars, which wound up to “I lost my heart in San Francisco”. I gave my future wide one of those cars on our wedding day a few years after first meeting.  An even better place for running is out of the city and along the water’s edge of the Presidio to Golden Gate Bridge. Of course, you’ve got to cross it, and then back again. Long run but spectacular, and also the course of one of the world’s great running events, the Bay to Breakers.

Segovia, Spain

Segovia is a fabulous historic city 90 mins drive north of Madrid. I remember the first time I visited, I got up at 5am to catch the sunrise over the incredible Roman aqueduct with over 160 arches, built with mortarless granite. Run along the water channel as it leads out of the city and marvel at its engineering. Then head back into the centre, winding through the narrow streets to the royal palace and Gothic cathedral. Best of all I love the 10km trail on the hills circling the city, running past endless old churches and monasteries, with breathtaking views of the city perched on its rocky hilltop. These days I get to spend a number of weeks in Segovia each year, the perfect place for an executive retreat or strategic workshop. IE Business School has converted the 13th century Monastery of Santa Cruz la Real into a beautiful fusion of old and new. You can even work in the same room where Isabella I, Queen of Spain, received Christopher Columbus and agreed to finance his 1492 voyage to explore the New World.

Stockholm, Sweden

Stockholm is a small city, surrounded by water, but the best place to run is the nearby island of Djurgarden. You’re immediately alone, running along the waterside in Swedish countryside. Actually, the island is also home to an extremely popular entertainment complex, including the Abba museum, but I didn’t stop. Despite being in northern Scandinavia, it always seems to be bright sunshine, with sparkling water and lush green meadows. Easy to get lost too. Last time I found that I’d been running for over 2 hours, and nearly missed my morning meeting!

Waitangi, New Zealand

I fell in love with New Zealand on my first visit 30 years ago. Travelling the length of the country is like travelling through the latitudes of the world in just a few hours, from penguins in the Antarctic-like south of Queenstown, through the volcanic Rotorua, to the Pacific-like tropics of the Bay of Islands in the north. My favourite run was in Waitangi Treaty Park, site of New Zealand’s founding agreement, from where you can run for hours on wooden pathways, above the water, and to the Pacific shoreline. And then recover in a outdoor naturally-heated hot tub at the end.

We live in a world of diverse and dramatic challenges – economic inflation, political instability, social inequality, environmental crisis, global fragmentation, unjust conflict, broken supply chains, and much more. Latin America, in particular, is no stranger to such adversity, and volatility.

But with challenge also comes opportunity. Indeed we will probably see more change in this decade, than over the last 250 years.

This is fuelled by the relentless pace of new technology, and in particular the connections of digital platforms, bio tech and nanotech, IoT and robotics, and the data and AI which emerges from it.

But in reality, tech is just the enabler of more dramatic change – of convergent, disrupted marketplaces; of changing customer attitudes and priorities; of new attitudes towards work and the role of organisations in society; and of new opportunities to innovate and grow. And the unforeseen “accelerators” of change in market structures and consumer behaviours, driven by two turbulent years of pandemic and more.

In the old world, size mattered. Big companies, the largest customer bases, the highest revenue, and market share. None of that matters today.

In the new world, markets are fragmented and discerning. It’s about focus, relevance and speed.

Mass-marketing doesn’t work. Customers are not average. Transactions are not enough. People trust people rather than brands. Purpose matters. Propositions are more personal.

What matters to marketers? Customers, brands and innovation.

Business needs marketers more than ever to unlock these crucial assets and capabilities, in order to make sense of rapid change, to actively shape the future markets, to respond to new entrants and disruptors, and bring the organisation together strategically and operationally to drive profitable growth.

Look at my new analysis of Latin American “Gamechangers”, shaking up markets right now. I will be launching this at CAMP 2022 in Lima, Peru next week:

What can we learn from these brands who are thriving in some of the world’s most adverse, uncertain, volatile markets?

They constantly adapt and change. They imagine their own futures. They search and seize new agendas. They find new spaces in markets, or create entirely new markets. They embrace tech in smart, human, creative ways. They find a core then scale fast, but have no respect for all boundaries or conventions. And they have leaders with courage, persistence and optimism.

Some of them a well established, large and global – like the wonderful cosmetics business Natura & Co, inspired by natural vibrancy of the Brazilian rainforests. Others are admired in the same breath as tech giants – Mercado Libre is a superstar of retail, Nubank of neo-banking, Rappi as a super-app. And others are relatively small but making a huge difference locally – like Elenas, the social commerce platform liberating women, and Peru’s Crehana, providing online vocational education to Latam youth.

They are just 12 examples, of the many more fascinating, creative businesses in Latin America.

Camposol … the world’s best blueberries, from Peru

Peru’s Camposol is a fresh food business in more than 40 countries. It is involved in the harvest, processing and marketing of high quality agricultural products such as avocados, blueberries, grapes, mangos and mandarins, among others. The new sustainable initative “Camposol Cares from Farm to Family” aims to gain better conditions for the farmers. Managing Director José Antonio Goméz talks about the impacts of the growing demand for avocado in Europe:

https://www.youtube.com/watch?v=6nUyxidVfNo

Cariuma … the Brazilian vegan sneakers

The Brazilian sneaker brand believes in making good-looking, crazy-comfy and consciously-made sneakers. “We want the shoes you wear to be made responsibly, feel crazy comfortable and provide effortless style.” 100% Vegan skate shoes, the new, high performance vegan suede is 2.5X more resistant than animal suede, while recycled fabric webbing creates more durability.

Crehana … online vocational education from Peru

Crehana Education is one of the largest online learning platforms in Latin America that provides highly relevant online training to over 2 million young adults. 66% of Latin American youth do not have university degrees or higher technical education, and around 20% of young people are unemployed. The company, based in Lima, Peru, uses a project- based methodology with industry experts that allows students to acquire valuable skills to work as freelancers or gain employment. 40% of Crehana’s students are women, a percentage with the company is working to increase.

Elenas … the Colombian social commerce platform

Latin America’s top social commerce platform empowering tens of thousands of women across Colombia to launch online businesses and earn extra income by selling products on WhatsApp, Facebook and other social media. Currently, 11 million women across Latin America sell consumer good products through direct sales catalogues and door-to-door sales. Elenas provides a digital solution for them to start an online store, manage clients, and grow their business from home, without having to worry about product sourcing, delivery, or payment collection.

https://www.youtube.com/watch?v=BhcH2uabBxI

Frubana … everything for Latam restaurants from Colombia

Founded by Fabian Gomez, a former McKinsey consultant, and one of the founders of Rappi, Frubana provides everything for Latin America’s restaurants. It is a fast growing technology B2B scale-up revolutionising the world of agriculture and the restaurant industry.. “Connecting the countryside and different suppliers with the city, through a digital platform with a wide portfolio of products for the restaurant sector.”

Kavak … used car super platform from Mexico

Kavak is the top e-commerce platform to buy, finance and sell pre-owned cars in Latin America. Driven by data, technology and innovation, it is the 2nd biggest startup in the region with 40+ stores in Mexico, Argentina and Brazil. Currently the 2nd largest startup in Latam with a valuation of around $9bn. Founder and CEO Carlos Garcia says “In Kavak our dream is to build something memorable, it will take us a long time and we will learn from every experience.”

Mercado Libre … Argentina’s online retail success

Founded in 1999 and headquartered in Buenos Aires, Mercado Libre is Latin America’s leading e-commerce technology company. Through its primary platforms, MercadoLibre.com and MercadoPago.com, it provides solutions to individuals and companies buying, selling, advertising, and paying for goods online. Mercado Libe serves millions of users and creates a market for a wide variety of goods and services in an easy, safe and efficient way. Read my Leader Profile of Marcos Galperin

Natura & Co … the world’s leading natural cosmetics from Brazil

Natura & Co is a Brazilian global personal care cosmetics group based in São Paulo. The group currently includes Natura Cosméticos, Aesop, The Body Shop and Avon. It is present in 73 countries across all continents except Antarctica. Natura Cosméticos, the parent company, was founded in 1969 by Antônio Luiz Seabra and went public in 2004. The company’s mission is to “Create and sell products and services that promote bem estar bem : well being / being well”.

NotCo … AI-enhanced plant-based food from Chile

NotCo is a unicorn Chilean food-tech company producing plant-based alternatives to animal-based food products. NotCo was founded in 2015 by Matias Muchnick and others, and utilizes machine learning to replicate dairy products in plant-based forms.  Its algorithm “Giuseppe” was created by Karim Pichara and patented in 2021, and utilises lists of plant ingredients to find the ideal combinations to recreate specific food attributes. This aims to replicate various food tastes, textures and cooking behaviors. NotMilk includes both pineapple and cabbage, allowing it to cook in the same way as cow’s milk.

Nubank … banking for the unbanked from Brazil

Nubank is the leading financial technology company in Latin America and the largest independent neobank in the world, with more than 20 million clients. Its first product, launched in 2014, is a no-fee credit card that is fully managed by a mobile app and used by more than 12 million customers. Almost 36 million Brazilians have requested its products. In 2017, Nubank launched its proprietary loyalty rewards program “Nubank Rewards”, as well as a digital account “NuConta” that is already used by more than 17 million people. Read my Leader Profile of Cristina Junqueira

Nuvocargo … the logistics platform from Mexico

Nuvocargo provides an all-in-one digital logistics platform for shippers and carriers moving goods between the US and Mexico, consolidating key services including truck procurement on both sides of the border, customs clearance, insurance, and trade finance. With dual HQs in New York and Mexico City,it  increased its monthly shipments by over 400% in the first half of 2021 versus 2020.

Rappi … the Colombian super app

Rappi is Latin-America’s first “super-app“. It was founded in 2015 by Simón Borrero and others and today is present in 9 countries and more than 200 cities. “We are a young Latin American team of technology entrepreneurs with a mission to drive progress in our region through our platform for digital commerce.” By 2020, Rappi had more than 200,000 independent couriers actively connecting to the app in Latin America. Rappi also worked with over 250,000 different businesses including groceries shops, pharmacies, kiosks, and office supply stores.

Dialogue magazine reflected on the opportunities for Latin American business, saying “There’s something stirring south of the Rio Grande”, and how it has the potential to become a “leapfrog” region, jumping to the future …

The future can look good for Latin America, if Latin America gets out of its own way

Progress 5/10 … Latin American politicians continue to swathe tech in red tape. There is a large body of thought in the region that innovation is best overseen by active government action. There is little global evidence for this. Governments would be better acting as facilitators for a new generation of entrepreneur.

More seed money is required for startups and entrepreneurs

Progress 8/10 … Remarkably, LatAm tech startups raised more cash in the first six months of 2021 than in all of 2020 – a cool US$9.3bn. There is enhanced interest from investors – Softbank, for example, created a US$5bn LatAm fund in 2019, committing an additional US$3bn in 2021. The result is a new breed of LatAm unicorns growing up in a much healthier venture capital environment.

Technology education will allow the region to move forward

Progress 6/10 … The pandemic choked off an otherwise encouraging trend. By September 2021, Covid-19 had contributed to a region-wide crisis in school attendance, with two-thirds of LatAm children still outside the classroom. Outside schools, the situation is rather better. Technology educational programmes are emerging across the region. The private sector is leading the way. US tech giant Oracle, for example, has launched a skills development programme which aims to train some 40,000 people in IT by the summer of this year.

Maximize opportunities in neobanking

Progress 7/10 … The most heart-warming development in the region is its progressive outlook on reimagining money. Part of this stems from context: stifling regulation in many LatAm nations renders it inordinately difficult for people to get a bank account, creating chronic financial exclusion region-wide. Neobanks have stepped into the vacuum. The likes of Nubank, Uala and Oyster have expanded banking services to demographics that were previously unbanked.

On the downside, El Salvador has unwisely become a global crypto pioneer: in 2021 it became the first country in the world to adopt bitcoin as legal tender. This is economic suicide: in the long-term, bets on Ponzi schemes are likely to fail.

Increase supply of outsourced services

Progress 8/10 … A perfect storm of global skills shortages, Covid-19 and geopolitical tensions between the US and China has opened a huge door to LatAm tech outsourcing. The region has been impressively effective in taking advantage. Suppliers of outsourcing tech services have continued to expand region-wide.

More from Peter Fisk:

• Marketing Recoded with Peter Fisk at CAMP 2022 in Lima, Peru
• Q&A with Peter Fisk in advance of speaking at CAMP 2022
• New Marketing Agendas ideas and insights by Peter Fisk
• Business Recoded the new book from Peter Fisk
• 100 Leaders shaking up the world, case studies
• 100 Companies shaking up the world, case studies
• Video Gallery of recent keynotes by Peter Fisk

The “ambidextrous” challenge of a business leader has become increasingly important in a world of relentless change.

Leaders need to be able to deliver high performance today, and simultaneously transform the business for tomorrow. Not just occasionally, but continuously. Not just as a balance, implying a bit of each, but to do both effectively.

25 years ago I wrote an article called “leading in double time”. The same idea. Now it matters more than ever, because leaders are at the heart of economic value creation.

Economic value which is driven partly by performance today, but equally by what you do today to create the profit streams of the future. In the past, the future was not so different from the past, now it most likely is. That’s why transformation is essential, and relentless.

New research by Korn Ferry focuses on these polarities – the ability to perform and transform at the same time:

• CEOs for the Future, when the Future is Now 
• Enterprise Leadership: New Leaders for a New World

The report headlines “Today’s leaders are being asked to simultaneously run the business and change the business” and concludes “only 14% of leaders have what it takes.”

“CEOs today are leading in a world moving through crisis and disruption—where challenges have no known solutions, or if they do, there are far too many choices and few clear ones. Yet even while driving change amidst all this uncertainty, they need to keep the trains running on time.”

Perform and Transform can feel like a tension, or a paradox. The challenge is to think otherwise, to embrace a new mindset and capabilities that enable both at the same time.

Scott Anthony, a good friend who leads Innosight, has long explored what he calls “Dual Transformation” – the ability to improve today, while also transforming for tomorrow. His point is that yes, you want to achieve both, but you only have today, and you only have what you have.

Korn Ferry adds “If leaders focus on transformation only, they risk failing to hit their numbers; if they focus on performance only, they risk falling behind their competitors. In reality, they are two sides of the same coin.

Think of today’s demand as a constant sway between performing now and transforming next. Even though the traditional business mindset puts these capabilities at opposite ends of one spectrum, they are not, in fact, mutually exclusive. Rather, they are simultaneous, ambidextrous, and symbiotic—they are true and actionable at once. An enterprise leader can perform as much as possible and transform as much as possible. It’s about maximising both capabilities—and not at the expense of one or the other.

Indeed, many enterprise leaders have sat at the helm of highly transformational companies that delivered extraordinary results. But these top-performing CEOs were once seen as the exception to the business rule. Today, however, more and more organizations are creating Perform-Transform strategic priorities in order to meet the needs of this increasingly complex and uncertain environment. But for companies to implement these agendas successfully, we need a different kind of leader—one who has the capabilities to both perform and transform, along with the capacity and agility to pivot dynamically between the two, all in order to create impact across and beyond the enterprise and broader ecosystem.”

The global environment is more volatile, more interconnected, and more competitive than ever before. Indeed, over 85% of CEOs interviewed by Korn Ferry for its CEOs for the Future study told us the historical “line” between business and society is ever more porous. As a result, CEOs, C-suite leaders, and other senior executives must now respond to multiple stakeholders simultaneously, all while they handle challenges more complex, situations more ambiguous, and duties more significant than their predecessors faced.

5 “Perform Transform” Mindsets

Korn Ferry’s research shows that “Performer Transformer” Leaders grow organisations 6.7% faster than their peers, but less than 14% of executives can be considered as such.

• Purpose: they believe they should apply and grow their gifts in order to more powerfully give to others, the enterprise, and beyond.
• Courage across and beyond: they believe in identifying and addressing enterprise problems and opportunities, even when unpopular, fear‑provoking, challenging, or outside their control.
• Awareness of self and impact: they believe that their ability to deeply understand and continuously learn about themselves and their impact is foundational to maximise their impact across the enterprise.
• Inclusion that matters: they believe they can multiply impact through connection and inclusion.
• Integrative thinking: they believe that situations and people need to be interpreted in their dynamic relationship to the enterprise and beyond, balancing the interaction of multiple tensions, and generating creative resolutions that are more than the sum of parts.

Find more great leadership insights from Korn Ferry here.

“Women today have different needs than we have had in the past, but beauty companies haven’t necessarily been the most reactive to that,” says Emily Weiss who launched Glossier, the skincare and cosmetics brand in 2014. “We wanted to create a very democratic movement, and the channels most fitting that goal were direct, digital ones.”

What started as a beauty blog, grew into a $1.2B company, thanks to a passionate fanbase who spread the word and  co-created best-selling products.

Co-creating products with superfans

Glossier is most famous in the industry for how effectively they leveraged Into The Gloss beauty blog readers for crowd-sourcing and product co-creation. A typical product-sourcing post gets 300+ detailed comments. This feedback then informs product, packaging, copy and ad campaign decisions.

Quick example: when sourcing their best-selling moisturizer, Glossier wanted to go with jars for the packaging. Feedback from customers suggested jars were viewed as less hygienic, and the brand went with a pump. Other feedbacks they integrated was related to preferred products, texture and ingredients.

 

 

While a popular blog is a useful engagement tool, other brands are constantly engaging with their fans on social media platforms to listen and learn, to inform and inspire, to drive sales or explore new ideas. Social polling, competitions, product features, flash sales, consumer views, events, are all aspects of this.

Turning consumers into influencers

Infleuncers isn’t a new concept in retail, especially in the beauty industry. But Glossier’s version is – unsurprisingly – more community-driven than most.

The brand selects loyal fans that fit their brand and have an existing – albeit small -social media following (most of them have between 300 and 5,000 followers). “Reps” share their skincare routine and favourite products on their profile page. Their custom link gives new shoppers 10% off their first order.

This way, Glossier controls its image while leveraging their passionate customers for added business.

Generating social proof at scale

The Glossier social team excels at engaging their audience and sourcing customer generated content (UGC) daily. Fans are encouraged to share their daily Glossier look.

You only need to look up #GlossierIRL on Twitter to see it:

And #GlossierGirl on Instagram:

Here’s the 2 key drivers behind Glossier’s ability to drive user-generated content:

1. The brand’s pop-culture-savy, fun and approachable tone on all channels is aligned with their younger audience and gets their attention
2. Glossier rewards that attention by replying to every mention and sharing customer content on all brand channels (social media, product pages, ad campaigns, newsletters)

Consumer tutorials and beauty routines

Tutorials are essential for any beauty brand. Not only does it showcase the product, it helps customers figure out how to make it work for them.

The Glossier blog started by posting beauty routines and #shelfies (where people post a picture of their top shelf with their favorite beauty and skincare products). It’s what made the blog so successful in the early days.

No surprise then that the brand still heavily relies on sharing customers’ beauty routines and tutorials on social media:

Community-powered marketing programs

Glossier actually goes beyond featuring their customers on their social channels: they include them in national ad campaigns. This echoes the company’s number 1 rule for community: “Make the Consumer Feel Seen”.

It also adds a layer of authenticity and additional social proof to the brand’s ads. There’s also the smart use of reviews on product pages, their 18k member non-branded beauty community on Facebook

(See their other 3 rules for building an engaged community here, by their CFO Henry Davies)

Glossier’s community has been a crucial driver for acquisition and customer loyalty.

“Humanity’s 21st century challenge is to meet the needs of all within the means of the planet” says economist Kate Raworth. “In other words, to ensure that no one falls short on life’s essentials (from food and housing to healthcare and political voice), while ensuring that collectively we do not overshoot our pressure on Earth’s life-supporting systems, on which we fundamentally depend – such as a stable climate, fertile soils, and a protective ozone layer.”

She illustrates the challenge as a doughnut, with social and planetary boundaries.

The doughtnut’s outer boundary reflects our environmental limits (air pollution, biodiversity loss, land conversion etc), beyond which lies ecological degradation and potential tipping points in Earth systems. The doughnut’s inner boundary reflects our social limits (health, education, justice, equality etc), reflecting that the agreed minimum social standards in UN’s the Sustainable Development Goals.

Between social and planetary boundaries lies an “environmentally safe and socially just space” in which humanity can thrive.

In 2018 Raworth applied the model to to 150 countries in a study for the G20. Her findings were provocative, saying “The doughnut challenge turns all countries – including every member of the G20 – into ‘developing countries’ because no country in the world can say that it is even close to meeting the needs of all of its people within the means of the planet. In fact Vietnam is the closest country to it. Some countries like India act within environmental limits but fall short socially. Industrialising nations like China are now crossing environmental limits, whilst high-income nations like USA massively overshoot both boundaries.

Most recently, Amsterdam became the first city to embrace the model as a framework for its future development.

The doughnut was originally developed by economist Kate Raworth:

• Nature Climate Change interview on the implications of the doughnut
• Centre for Humans and Nature article on what Doughnut Economics implies for economic growth
• State of the World 2013 chapter on planetary and social boundaries as a 21st century compass
• Guardian blog presenting the doughnut in the context of the UN’s Rio+20 conference
• Guardian podcast on planetary and social boundaries

The Lake Biwa Marathon is the oldest in Japan – last year’s edition saw 42 local runners break 2 hours 10 minutes for the distance, the most ever in one race, anywhere – the US Olympic trial saw one runner under that time, while in the UK there were none. Yet hardly any of these Japanese runners win gold medals, or are known outside their home nation.

Japanese culture focuses on teams rather than individuals, on contribution towards collective goals rather than personal fame and fortune.

This is illustrated by the Hakone Ekiden, a long-distance running relay, and Japan’s most popular televised sporting event. Traditionally run over three days between the ancient capital Kyoto and Tokyo, a distance of 508km, it now consists of a corporate race every New Year’s Day, and a student race on the two following days. The collegiate race is the bigger event, with 52.6 million tuning into watch this year, 40% of the population.

Every top Japanese athlete aspires to join a corporate team – becoming employees with extra time off for training. Japanese brands are seen as national icons, and representing one is seen as the highest accolade for the individual, rather than an athlete’s endorsement for the company. This year’s corporate Ekiden winner was the Honda team, followed by Subaru, Asahi, Mitsubishi and Toyota.

The challenge for Japanese leaders

Japan is the world’s third largest economy, but has largely stagnated in recent years, and is ranked as the world’s fourth least entrepreneurial country in the world.

Japan thrived in the post-war years with disciplined approaches such as “Kaizen”, built around continuous  improvement methods such as just-in-time, zero defects, “Kanban”, suggestion systems, automation, small group activities, total productive maintenance, total quality control, and more.

The incremental improvement approaches drove world-leading standards in quality, efficiency and productivity, and the rise of a generation of product- and cost-leaders like Sony and Toyota. But it was essentially a discipline for stable, product-centric markets.

As in the Hakone Ekiden, being a team player is seen as essential in Japanese culture. Rather than being a figurehead and decision-maker, leaders exist to consult with teams, to find consensus. This drives hierarchical working, feeling the need to be involved in everything their teams do.

It also limits ambition and challenge, innovation and growth.

Japan has the world’s most participative style of leadership, but also the least visionary style of leadership, according to a report on Japanese leadership by executive search firm KornFerry.

In a world of relentless change both matter – future direction and collaborative action.

“Vision” is typically regarded as too abstract, vague, and general in Japanese business culture. Managers and employees want the detail, the absolutes, the certainty. But in a world of change, details keep changing – agility becomes key, the ability to keep adapting and improvising matters more.

Similarly, change is not easy in Japanese business culture. Western change management models typically focus on the role of leaders, and others, as “change agents”. This doesn’t work in Japanese culture according to a report on change management in Japanese culture by McKinsey.

Individuals who seek to challenge the status quo, catalyse new ideas, and inspire change, are seen as disruptive, threatening the carefully developed harmony of teams and organisations.

Change narratives that lack detailed implementation aren’t believed, and “cascading” new approaches doesn’t work. Change, according to McKinsey, needs to be more hands on, to address the blockers of change, to make specific process or behaviour improvement, and direct to every part of the organisation.

These differences in culture are not new to us, and are brilliantly illustrated by Erin Meyer in “The Culture Map” showing the extreme hierarchical and consensual nature of Japanese culture.

 

Finding a new approach for Japanese leaders

I have a soft spot for Russell Reynolds, the executive search firm. They found me my first CEO role, and have always provided inspiration about what really matters to leaders, based on their practical insights. Clarke Murphy is one of their team, their Board and CEO Leadership Advisor,  and has just published a great new book.

In Sustainable Leadership: Lessons of Vision, Courage, and Grit from the CEOs Who Dared to Build a Better World, Murphy shares a useful toolkit for delivering better business results through sustainability-centred actions. Sustainable in the sense of responsible, for people and society. Sustainable in the sense of longevity and enduring impact.

He explores what it takes to become a Sustainable Leader and how you can turn your sustainability promises into tangible action.

• Download the First Chapter

Drawing on the real-life stories of Sustainable Leaders from across the world – from companies like Adidas, Heineken, Duke Energy, Natura &Co, Maersk, Mahindra Steel, and Salesforce – Murphy seeks to prove that sustainability success is within reach for every business, and is a key to leadership success too.

I particularly liked his insight from working with Soren Skou at Maersk, who he calls a “moonshot” leader, one who has bigger and bolder ambitions, even if they don’t know exactly how they will get there.

Like many others – inspiring authors and business leaders like Paul Polman to Marc Benioff – he seeks to debunk the myth that sustainability is at odds with profitability, and instead focuses on how to make sustainability your new growth strategy.

He explores strategies to prepare your up-and-coming executives to carry the sustainability mantle and help you hit your short and long-term sustainability goals.

• How to set a bold vision for change—and bring stakeholders along on your journey.
• How to overcome setbacks—from not having all the answers to learning from mistakes.
• The specific skills and mindset you’ll need to deliver on your sustainability promises.
• How to inspire the next-generation of sustainable leaders to cement your legacy well into the future.

He calls it an essential blueprint for CEOs, boards, founders, entrepreneurs, and other business executives, and is equally relevant to specialists in business, Chief Sustainability Officers and ESG professionals, looking for immediately actionable approaches to increase the long-term viability of their organisations.

Next month I am delighted to be delivering the opening keynote of CAMP 2022, the largest marketing conference in Peru. In advance of the event, the fantastic organising company Seminarium, brought together a diverse range of questions from local media. My answers are below.

If you’re planning to be in Lima on 7-8 July, or are able to join online, I look forwards to meeting you there, when I will be exploring two topics:

• Marketing Recoded: What’s new, and not, in a world of relentless change? … “Every market is shaken up, with new challengers and disruptive innovation, new agendas for customers and business. Marketers are the sense makers, the business innovator and growth drivers. The pioneers of your future business”

• Friction-Free Marketing: The best brands are not about you … “Consumer to consumer models are rapidly becoming the most effective marketing dynamics, social to superapps, collabs to  communities. Brands are about people, their passions and communities, not about business and its products and services”

In advance, here are my answers to the first questions (if you have more, or would like to meet in Peru, then just email me!) …

Today the world is going through a very complex situation: the new normal as a result of the pandemic, the war in Europe, inflation, unemployment, how do these factors affect the Marketing industry? What are the points of no return? And, conversely, what remains?

The “new normal” is a world of increasing complexity, change and multiple challenges. We need to let go of the old world which was relatively simple and predictable.

We live in a time of incredible change. Of course, some of this is challenging – economic inflation, political uncertainty, global fragmentation. But with challenge also comes opportunity. We will probably see more change in this decade, than over the last 250 years.

This is fueled by the relentless pace of new technology, and in particular the connections of digital platforms, bio tech and nanotech, IoT and robotics, and the data and AI which emerges from it.

But in reality, tech is just the enabler of more dramatic change – of convergent, disrupted marketplaces; of changing customer attitudes and priorities; of new attitudes towards work and the role of organisations in society; and of new opportunities to innovate and grow.

In the old world, size mattered. Big companies, the largest customer bases, the highest revenue, and market share. None of that matters today.

In the new world, markets are fragmented and discerning. It’s about focus, relevance and speed.

Mass-marketing doesn’t work. Customers are not average. Transactions are not enough. People trust people rather than brands. Purpose matters. Propositions are more personal.

What matters to marketers? Customers, brands and innovation. Business needs marketers more than ever to unlock these crucial assets and capabilities, in order to make sense of rapid change, to actively shape the future markets, to respond to new entrants and disruptors, and bring the organisation together strategically and operationally to drive profitable growth.

Look at my new analysis of Latin American “Gamechanger” brands, shaking up markets right now. I will be launching this at CAMP 2022. How do they brands win? They play by a new set of rules. They change the game. They embrace tech, but in smart, human, creative ways.

© Peter Fisk 2022

What are the main challenges that Marketing specialists face today, taking into account the new consumer (omnichannel, digital, with social sensitivity, etc.) and the new market (more digital and technological, with more exhibition platforms)?

 Marketers need to be both strategic and operational.

In the past the strategic focus has largely been on brand building. In steady-state markets, this was relatively easy. Market structures, competitors and customers, channels and prices, value propositions and business models, changed little. Brands competed on being slightly better, or slightly cheaper. This is now all shaken up.

Business needs marketers to be the “strategic guides” through a world of relentless market-driven change. Every market is being shaken up – by changing economics, customer agendas, disruptive competitors, new business models. And much more.

Strategically, marketers need to be the “sense-makers” of fast-changing markets – to identify the new opportunities for business growth, both in existing and new markets – to explore and shape emerging markets to their advantage – to drive innovation across every aspect of business.

This is particularly driven by the convergence of traditional industry sectors – for example, telecom companies become media companies, retail companies also become finance companies, accounting firms become consulting firms.

At the same time entirely new “market spaces” emerge like home delivery companies (and in particular quick-commerce), or online gaming companies, or plant-based food companies. This is all in the power of marketers!

Or think about geography, demographics, segmentation. Why do we still largely organize our business and marketing by country. Is there not more in common between GenZ, or old people, or SMEs, across Latin America, rather having to address them separately within each country?

Operationally, marketers need to be the “data scientists” of technologically-enabled markets.

Each customer seeks, expects, a more personal experience. Particularly when they know you have some much data about them. They expect the same level of intelligence as they get from shopping at Amazon, or the same level or personal service they get from a local café.

Unlocking the intelligent power of data is the key – to anticipate the needs of customers, to engage them individually, to resolve problems before they are even known. SEO is just a starting point.

The best companies now have huge data science labs, monitoring every post about a brand, every click by a customer. In retail, for example, GPS and iBeacons in a shop, mean that every customer experience is unique, every customer have personal incentives, pay different prices.

Given your experience working with big brands, what is the secret for “traditional” brands to become “current” brands without losing their essence and value?

 Traditional brands have almost all the advantages – heritage, experience, scale, data, talent, capital – yet they lack the mindset of fast, entrepreneurial youthful brands.  Start-ups have advantages too, most significantly less complexity, less process, less fear.

Companies like Nike, have shown that a 50 year company can be incredibly innovative – look at how they have shifted to being a primarily DTC business in a short period of time – have they have embrace social networks to build communities, to engage with new audiences and agendas, to constantly reinterpret value propositions and stay relevant.

The “secret” is simple, to stay focused on the customer, and the changing customer. Not just to meet their existing needs, but constantly explore new ideas, to innovate, to inspire them.

The best companies, traditional or new, interpret themselves not as product-centric but as customer-centric businesses. Of course, experts have being saying that for 40 years. Yet most companies still interpret customer-centric as “smiling faces” or “fast response”.

Instead, think about this. Do you define your brand around your business and product, or around the customer and application?  …. Think about it … Don’t define yourself by what you do – you’re a food company, a sportswear company – but by what you enable people to do.

Nike is a sports company, not a sportswear company. Harley Davidson is not about the technically-mediocre motorbike, but about the freedom of the rider. Danone is not a food company, but a healthy living company.

And then everything else follows too – don’t focus on the sales transaction, the point of sale, advertising the product functionality, the price relative to production cost – think about what the customer seeks to achieve, how you can support them over time, engaging them in learning to use it better, and the price relative to the value they gain.

This is not rocket science. But it is still a wake-up to many marketers.

More strategically, it’s also about exploring what more you can do – don’t limit your growth to just finding more customers for existing products, or more products for existing customers – think about how you can go further – using your assets, capabilities and imagination in new ways.

Take PingAn for example. The Shenzhen-based insurance company is one of the largest in the world. It has a digital platform serving almost one billion customers. For boring insurance. What more could it do? It looked at where the growth opportunities are, the unexploited markets, and how its assets could help. Today, after just 4 years, Ping An is also the world’s largest healthcare platform.

What is the balance point between new technologies (for example, artificial intelligence) and the human component (contact with a “real person”)?

 We are human. Real people. People trust people.

Technology is simply there to enable us to do better. AI, for example, helps us to anticipate and meet people’s needs better. Robotics helps us to improve the efficiency and accuracy of processes. Think of Kava robots in Amazon warehouses, or the Da Vinci robots which perform the majority of heart surgeries. Blockchain delivers solutions faster and cheaper.

We also need people to act in human ways – to interpret emotions, to engage with empathy, to build relationships, to share hopes and fears, purpose and passions.

If you are developing a new website, a new app, a new process for your business – think about this – how does it create a better experience – not just fast and efficiency, but more personal and human too. Similarly companies how seek “digital transformation” need to recognise that what they really need is “business transformation”, probably customer-centric, enabled by digital technology.

DBS is a great example of this. For the past 4 years, the Singapore business has been ranked the world’s most innovative bank. Their strategy is to “make banking invisible”.

They want people to “bank less, live more”. Their entire focus is on implementing better payment-related technologies into everyday life – shopping, entertaining, transporting, educating. They don’t want people to spend time coming to banks, or using separate apps for money, they want people to get on with life.

In line with the previous question and with a view to friction-free marketing, what do you consider to be the most appropriate customer journey for the short and medium term?

 The biggest opportunity today is to become a C2C company. Customers connected to customers. Sharing their passions, supporting each other. Co-creating, co-selling, co-enabling what they do.

This is the best form of friction-free marketing. Where there is no company getting in the way. Of course, there is a brand – but the brand is about the customers, and their shared passion – not the company. The brand is more like a facilitator, helping customers to do what they want better.

Glossier is a great C2C example, created by Emily Weiss, and now one of the world’s fastest growing beauty brands. It is about customers sharing their love of beauty – including new ideas for products, recommending their best friends, and then sharing in the everyday use of the products.

Rapha is another great example. The cycling brand, which started in London with its first “cycle club”, which is a store but with a café in the centre, a bike store and workshop, and showers. Of course the store is where you can buy Rapha cyclewear, but more importantly it is where you meet people like you, to share your passion for cycling, to watch a race over a coffee, to go for a ride after work. Go on the Rapha app, its full of people sharing their love of cycling, as well as the products.

Given your extensive experience around the world, what are the most common mistakes that companies make when managing their brands in the face of new challenges?

 It’s time to let go – let go of what made you successful in the past – and to explore and embrace, a different, and exciting, new future.

More on Marketing from Peter Fisk

• Agenda: Marketing’s New Agenda: Hot topics, tools and tips by Peter Fisk
• Book: “Marketing Genius: The left and right-brain of marketing” by Peter Fisk
• Book: “Brand Innovation” by Peter Fisk
• Book: “Gamechangers: Innovative strategies for brands and business” by Peter Fisk
• Article: The New Rules of Marketing by Peter Fisk
• Article: Building Brands like Pixar make Movies by Peter Fisk
• Article: “Market Makers: Developing a winning market strategy” by Peter Fisk
• Keynote: “Zoom in Zoom out: The future of marketing” by Peter Fisk
• Keynote: “The Magic Marketing Machine” by Peter Fisk
• Workshop: “Strategic Marketing: Winning in digital and realtime markets“ by Peter Fisk
• Workshop: “Genius Marketing: 21st Century Marketing Toolkit” by Peter Fisk
• Article: Reimagining Marketing by McKinsey
• Article: The Future of Marketing and Sales is Here by BCG
• Report: Global Marketing Trends 2022 by Deloitte
• Report: 15 Marketing Trends for 2022 by Forbes
• Report: CMO Survey Top Line 2022 by CMO Survey
• Report: CMO Leadership Vision 2022 by Gartner
• Article: Evolving Role of the CMO by eMarketer
• Article: 8 Skills of Future CMO by Blake Morgan
• Article: The Future of Marketing by Mathew Sweezey
• Article: The Offer You Cant Refuse  by Steve van Bellegham
• Report: Brand Equity and Growth by Kantar
• Report: Social Media at the Cross Roadroads by MIT Summit
• Article: New Playbook for CMOs and Summary by CapGemini
• Report: Future 40 Technologies for Marketing by R3

Every market is shaken up, with new challengers and disruptive innovation, new agendas for customers and business. Marketers are the sense makers, the business innovators and growth drivers. The pioneers of your future business.

Consumer to consumer models are rapidly becoming the most effective marketing dynamics, social to superapps, collabs to communities. Brands are about people, their passions and communities, not about business and its products and services.

Markets have fundamentally changed

A new generation of businesses (new technologies, new business models, new leadership) is emerging to address a new generation of customers (new audiences, new geographies, new aspirations). Marketing exists to connect businesses and customers, in relevant and profitable ways.

A new approach to marketing is therefore required. Some of the new approaches, and maybe the language, will be familiar. But not all, and not joined up as a fundamental approach to driving business performance. Together, some call it Marketing 4.0 or Exponential Marketing, but whichever labels you apply, it involves a seismic shift in philosophy and practice.

It fundamentally challenges every marketer who still turns first to their strategic plan. And then to their advertising agency, or even their web developer. It is fundamentally digital in mindset, but human as well as technological. It demands analytical thinking, content and networks, but also vision and creativity. It requires new types of leaders, and a new mindset for every marketer. It is built around 7 transformations.

These are the new rules of marketing:

• Strategic Agility … Forget strategic planning that is slow, structured and stable – instead think of strategy like a portfolio of fast and relentless experiments, seizing and shaping the best opportunities for growth. It still needs direction and choices – a vision still matters, making sense of change, having a clarity purpose, and a defined context in which to hack. Strategy becomes agile and creative, outside in, big ideas and small experiments, driven by changing markets and customer aspirations, rather than fixed by your own capabilities and products.

• Customer Precision … Forget mass-market segmentation, whether geographic, demographic or anything else. People are individual, and don’t want standardised solutions. The power of big data, connecting and interpreting, automating and exploiting – together with more qualitative and creative insights through customer immersion and “design thinking” – is used to focus, engage, customise, deliver, support, enable the right customers over time. Linking to the agile culture, is the ability to keep learning, about people, about yourself, and what works.

• Market Innovation … Forget innovation around a product, or even a service. Think strategically about how you can shape the market, in particular the platform that engages buyers and sellers, suppliers and distributors. Business model innovation, channel innovation, price innovation, then follow. Innovation is about shaping the market and all its dynamics to your advantage, whilst also personalised for each individual through micro-innovation – collaborative and customised solutions and experiences.

• Purposeful Brands … Forget brands built around who you are – brand logos, slogans and ownership. People engage with brands about them, brands that reflect their aspirations, and brands that connect them with other people who share their values and aspirations. Brand stories are living fables, encouraged by the company, but interpreted and spread by people to people. Content must be realtime and relevant, and keep moving forwards. Encouraged but not controlled. Inspiring, human and memorable.

• Social Communities … Forget advertising, whether a TV campaign with 30 second slots, or even personalised mailings – people are not listening, and they don’t trust you. Instead they trust people like them, friends and peers. Word of mouth in a digital world, PR and celebrity endorsement is replaced by Instagramers or Youtubers who they trust. Brand stories, advocates, and community building help to guide and shape this influence.

• Enabling Experiences … Forget customer experiences as a semi-automated series of incentivised touchpoints built around the “sale”, think instead from a customer’s perspective. Think about the experience they have – the outcomes, not the inputs, what they do not what you do. Which is usually more about how they use, apply and exploit the products and services which they buy, rather than the purchase itself. Use their language, think about their experience, and how they use, store, apply and even dispose of products and services. Enable them to achieve more.

• Future Growth … Forget an obsession with sales volumes, even revenues, which are the short-term measure of sales people. Marketers should be focused on growing the business – profitably and sustainably – creating a better business future, and a long-term platform and guide for customers. Think profitably. Think growth. Think economic value creation. Exponential growth is now the expectation of investor, achieved by harnessing the power of branded networks, social influence and agile business models. Fast, exciting and rewarding.

These new rules of marketing, and specifically the 7 transformations, are the cornerstones of my next book and also of a new range of inspiring keynotes and practical workshops. We explore each mantra in detail, with detailed case studies together with the tools and partners for action.

Whilst of course, every market and every business is different, the 7 mantras are a provocative challenge for change. Of course, solutions are not black and white. Every business still has a mix of structured and hacked strategy, uses a box of earned and paid media, and has a balance of push and pull. But it is a rapidly changing area, a revolution.

Marketing is the driving force of business – it moves the business forwards, shapes the future, engages the customer and aligns the organisation to deliver. It is the growth engine, the innovation catalyst and customer champion. Markets are changing at incredible speed, requiring new agility and new capability.

There has never been a more exciting time for marketing, or to be a marketer.

Future shapers, business innovators and growth drivers

Marketers have a deep understanding of markets, how the future is emerging, what the customers of today and tomorrow are demanding, how competitors are evolving, the best new ideas around the world, and therefore what it will take to drive future innovation and growth. Yet only 11% of CEOs come from a marketing-related background, far behind those who were CFOs or COOs. Finance and operations matter, but they don’t move the organisation forwards.

Too many marketers get caught up in the tactics – perfecting the creative execution of advertising, debating the intricacies of price changes, ensuring that their search engine positioning is optimised, a slave to quarterly revenues, or maybe even the sales team. The driver for ever great data analytics, the use of precision marketing tools, the desire for real time engagement, has dragged – or enticed – marketing leaders into this short-term. Yes, it matters, but it’s not everything.

Marketers should be stepping up to drive strategy, innovation, and change across the organisation. If not them, then who?

One of the most profound moments of my own marketing career was when working with Coca Cola, their CMO had a last-minute idea to rebrand his global marketing plan as the global growth plan. Suddenly everyone in the executive team wanted to see it, read it, be part of it. Suddenly it became a conversation not about reducing the marketing budget, but how to find more budget to fund additional growth. Marketers are the growth drivers, and actually create over 3x more economic value than any other function in the business (based on a research project I did with Philip Kotler’s input and a team of economists). And marketers have some indispensable tools – brands, customers, innovation – to achieve this growth.

The problem is that too many marketers live in an echo chamber.

Some examples. Too many marketers talk about marketing as “their industry”. It’s not. They are instead professionals contributing towards their business in its own industry – banking, retail or whatever. This tribal motivation can bond us as a professional community, and focus us on functional deliverables, but it diverts us from the real contribution marketers can make to organisations, and their close allegiance and integration with cross-functional colleagues. The exception are the leaders and their teams who have repositioned themselves more holistically as Customer Director, Chief Growth Officer, and the like.

Secondly. Too many marketers have a far too cosy relationship with their creative agencies. It’s like they outsource their creativity to the agency, who still largely take a myopic view (of course, there are many types of agencies, but the ad agencies still tend to dominate relationships despite the diminishing share of spend on traditional media). Ad agencies themselves describe their world as “adland”, a mythical place of long lunches and artistic platitudes (witness the headlines in Campaign). This symbiotic relationship, indulgence in each other, is what holds too many marketers and their businesses back. Creative agencies should be stepping up to contribute more, to make sense of a changing world, to challenge and stretch our collective imaginations.

Too many marketers don’t step up to think strategically, to become the future shapers, the innovation drivers, the change makers. Too many marketers are still obsessed with communications, at the expense of other aspects of marketing – not just product and service development, but channels and pricing can have a huge impact too, perhaps even greater than the most beautifully crafted ad campaign.

Instead marketers should be the visionaries behind how the future can be shaped, how markets will evolve, anticipating and driving change rather than just responding. They should be searching the world for new growth opportunities, for new consumer insights, for more innovative ideas. They should be the architects of new business models, and indeed, new market models. New ways for markets to work, new ways to unlock brands as the most valuable assets, new ways to achieve success. They should be the driving force of business futures, the catalysts and sage to the business leader, the instigator and enabler of change.

In more detail, here is the shift we need to make:

Here’s my manifesto for marketers:

Growth Drivers

• Marketers exist to drive the growth of a business. Yet few marketers have the confidence, or maybe capability, to define and drive the holistic innovation and growth strategies of their organisations
• The pandemic drove the biggest shift in consumer behaviour in our lifetime, yet few marketers really transformed their marketing in response, fewer still led a company-wide response to support or seize the opportunities it opened up.

Change Makers

• Change is driven by markets, yet marketers are rarely the change drivers, reimagining corporate strategies, business models and strategic priorities.
• Customer-centricity is obvious. Yet marketers persist in obsessing about defining purpose, brands, activities and results around old product-centric thinking.

Business Innovators

• Innovation is probably the most powerful word in business, yet few marketers seek to define and lead the innovation agenda and programs across organisations. Not just new products, business-wide innovation.
• Most companies seek to be entrepreneurial. Their biggest disruption comes from entrepreneurs. Most entrepreneurs are marketers. Few marketers are entrepreneurial.

Value Creators

• Marketing creates three times more economic value than their operational colleagues, yet few marketers can make this case, or lead the company’s dialogue with investors. Oh, and growth needs to be profitable and sustainble too.
• Customers and brands are probably an organisation’s most valuable financial assets, yet few seek to articulate their value on balance sheets, or to fully exploit their latent potential.

Bringing together other perspectives on the future of marketing

Peter Fisk has over 30 years of marketing experience, from his first job as a brand manager in the airline industry, through many roles in developing marketing strategies for the likes of Adidas and Asahi, Cartier and Coca Cola, Mars and Microsoft, P&G and Pfizer, Santander and Suntory, Vestas and Virgin. In 2002 he became the CEO of the Chartered Institute of Marketing, with over 60,000 global members, member of the World Marketing Council, a fellow of the Marketing Society, and judge of the annual Marketing Excellence Awards. His bestselling book “Marketing Genius” has been translated into 35 languages, and explores “the left and right brain of marketing thinking, how to be the Einstein and Picasso of brands, combining intelligence and imagination”. He now leads GeniusWorks, a specialist market-driven innovation firm, and is a professor of strategy and leadership at IE Business School. His new book “Business Recoded” was reviewed by FT with “Wow, this is the book you have to read now!”

• Agenda: Marketing’s New Agenda: Hot topics, tools and tips by Peter Fisk
• Keynote: Marketing Recoded: Whats new and not in marketing by Peter Fisk
• Keynote: Friction Free Marketing: Every business can be a C2C business by Peter Fisk
• Book: “Marketing Genius: The left and right-brain of marketing” by Peter Fisk
• Book: “Brand Innovation” by Peter Fisk
• Book: “Gamechangers: Innovative strategies for brands and business” by Peter Fisk
• Article: The New Rules of Marketing by Peter Fisk
• Article: Building Brands like Pixar make Movies by Peter Fisk
• Article: “Market Makers: Developing a winning market strategy” by Peter Fisk
• Keynote: “Zoom in Zoom out: The future of marketing” by Peter Fisk
• Keynote: “The Magic Marketing Machine” by Peter Fisk
• Workshop: “Strategic Marketing: Winning in digital and realtime markets“ by Peter Fisk
• Workshop: “Genius Marketing: 21st Century Marketing Toolkit” by Peter Fisk
• Article: Reimagining Marketing by McKinsey
• Article: The Future of Marketing and Sales is Here by BCG
• Report: Global Marketing Trends 2022 by Deloitte
• Report: 15 Marketing Trends for 2022 by Forbes
• Report: CMO Survey Top Line 2022 by CMO Survey
• Report: CMO Leadership Vision 2022 by Gartner
• Article: Evolving Role of the CMO by eMarketer
• Article: 8 Skills of Future CMO by Blake Morgan
• Article: The Future of Marketing by Mathew Sweezey
• Article: The Offer You Cant Refuse  by Steve van Bellegham
• Report: Brand Equity and Growth by Kantar
• Report: Social Media at the Cross Roadroads by MIT Summit
• Article: New Playbook for CMOs and Summary by CapGemini
• Report: Future 40 Technologies for Marketing by R3