Three More Rules for the Chief Meaning Officer

Tim Leberecht of frog design just came up with three more rules for the chief meaning officer, bringing their number to a total of ten. As he spoke at next09 some weeks ago, he had just seven rules. Watch the video here.

Seriously, Tim wrote an extensive and thoughtful essay on his topic. Clearly a must-read for everyone in this space of (social media) marketing.

We live in times of major uncertainty. The doom and gloom of the economic crisis, the deterioration of mass markets, the pervasiveness of the digital lifestyle, and the fragmentation of traditional societal institutions are not only inducing anxiety but also inspiring a search for simplicity and noneconomic value systems. Consumption-driven wealth and status are being replaced by identity, belonging, and a strong desire to contribute to -- or to experience -- something "meaningful" rather than to acquire more things. Trust and reputation are no longer enablers for the exchange of goods, services, and information, they are replacements for them. Values are the new value. Meaning is succeeding customer satisfaction. "The job of leadership today is not just to make money. It's to make meaning," writes management consultant John Hagel.

This new cultural climate presents a historic opportunity for brands to transform themselves into arbiters of meaning. When your brand is a vector, your base becomes a movement -- as we learned from Barack Obama's presidential campaign. A "meaning surplus" will become imperative: Only businesses that give more than they take will be able to create sustained brand loyalty. Out: bottom-line pragmatists and financial wizards. In: philosophers, ethicists, and social entrepreneurs.

Although all corporate functions are affected by this path-finding moment, marketing is best positioned to lead the transformation. Effort is required to move beyond simply connecting products and customers with the goal of facilitating transactions. Marketing must now create "meaning" through actions and interactions. What is needed is the marketer as chief meaning officer -- someone who negotiates a "New Deal," a new social contract between brands, their stakeholders, and society at large.