Marketing Week is today reporting on VW's unveiling of its long -planned strategy to redress the damage done by the catastrophic 2015 Emissions Scandal. That betrayal of customer trust resulted in 35% being wiped off its market cap. Evidence, if any were needed, that TRUST has a tangible value.
CMO Jochen Sengpiehl is now promising "to focus more on people than products."
"As a general principle, the aim in future will not be to show a perfect advertising world. In our presentation, we want to become more human and more lively, to adopt the customer’s perspective to a greater extent and to tell authentic stories."
In our view, marketing should ALWAYS focus more on people than products. This will be one of the main changes in marketing over the next 10 years.
They also intend to adopt a 'digital-first approach' which somewhat undermines their human-first strategy. Last time I looked, people were analog, not digital, so let's see how they get on with this.