Transforming Marketing Organizations: Lessons from Northwestern Mutual
In the heart of Milwaukee, a noteworthy transformation is taking place in the world of marketing, particularly in how modern organizations structure their teams to foster growth. With companies increasingly striving to become more digital, agile, and customer-centric, there’s one burning question on the table: how can marketing organizations effectively position themselves to drive revenue?
It turns out that there’s no one-size-fits-all answer to this question. Like a unique snowflake, every marketing organization is distinct, shaped by factors such as its overarching business model, growth strategy, and customer channels. The complexity escalates because each organization must also navigate the intricate balance of digital engagement, customer expectations, and internal dynamics.
Understanding the Challenges
Professor Kimberly Whitler raises a crucial point, noting that misalignment within organizations can lead to significant hurdles for Chief Marketing Officers (CMOs). If a CMO’s responsibilities are limited to only advertising and media, but they don’t have a hand in areas like innovation or data analytics, it creates a disconnect that complicates their ability to drive real growth.
As Frank Findley, Executive Director of the Marketing Accountability Standards Board (MASB), highlights, there’s a pressing need for companies to clearly understand how marketing contributes to overall value. When businesses lack this clarity, marketing efforts can be deprioritized or even defunded. However, the good news is that there are practical strategies organizations can embrace to ensure marketing becomes an integral part of their growth narrative.
Building a High-Impact Marketing Organization
Lynn Teo, the Chief Marketing Officer at Northwestern Mutual, is leading the charge in redefining what marketing can achieve. Since stepping into her role, Teo has taken significant strides to reconfigure the marketing organization for enhanced impact and performance, with a focus on value creation.
Teo believes that marketing should align closely with the business’s goals to create tangible value. “Our marketing strategy needs to be aligned to the business to create value,” she affirms, emphasizing that this alignment is the core of their strategic approach. At Northwestern Mutual, the marketing team plays a vital role in driving several key areas, including brand awareness, customer engagement, and advisor support.
Achieving Value Through Strategy and Structure
One major highlight of Teo’s approach is her understanding of the importance of interdisciplinary collaboration. A recent meta-analysis by Slate Point Partners revealed that up to 50% of future revenue growth can be traced back to teams working together across various functions. This teamwork is essential in creating seamless customer experiences, maximizing growth investments, and leveraging valuable insights.
To foster this collaboration, Teo constructed a marketing organization that strategically integrates brand and product marketing with client experiences. This way, they can deepen relationships with clients and create a coherent story around the brand. “Brand and product marketing teams are aligned with client marketing to drive deeper relationships,” she explains.
Emphasizing Continuous Improvement
Teo’s vision doesn’t stop at structural changes; she’s also prioritizing the development of a marketing culture that emphasizes learning and adaptability. She advises staying proactive and not letting imperfect data stall campaign efforts. “Embrace imperfection with a pragmatic mindset,” she suggests, urging marketing leaders to pursue meaningful progress based on insights gathered along the journey rather than waiting for the perfect set of data.
During her time at Northwestern Mutual, Teo has seen substantial improvements; in 2024, her team reported a remarkable 40% increase in lead volumes, coupled with an upswing in plans delivered and overall client sales. This data speaks volumes about the effectiveness of her holistic and value-driven approach.
The Path Forward
As she prepares to share her insights at the upcoming Digital Marketing in Financial Services Summit, it’s evident that Teo’s work is a beacon for marketers seeking to understand how to create impactful strategies within their own organizations. The future of marketing lies in creating cross-functional teams that capitalize on collaboration and value creation.
Teo’s transformation journey stands as a powerful reminder that marketing can be a crucial player in driving business performance, and with the right structure, mindset, and collaborative spirit, it can thrive even amidst complexity.
In the evolving world of marketing, staying aligned with business goals and embracing collaboration is more important than ever. And as marketers like Lynn Teo pave the way forward, businesses across the spectrum are bound to take note and follow suit.
