Sales & Marketing
5 expectations that today’s CMOs should meet
4 min read
02 April 2014
A new Salesforce and Deloitte report outlines how CMOs are going through a rapid transformation, now arguably making them the executives with the most power to affect business bottom lines.
1. Take on topline growth
Some 53 per cent of surveyed CMOs felt an increased pressure to enable revenue growth – making this the biggest change to their teams’ responsibilities over the past few years. Furthermore, 27 per cent of surveyed CMOs affirmed that they have increased ownership to align internal functions (like product and sales) to deliver customer impact.
However, CMOs haven’t traditionally been asked for their full input into product marketing and execution. Advances in real-time customer feedback have also given CMOs unprecedented ability to listen to dialogues around product design.
2. Own the customer experience
Since ownership of digital channels such as social media has increasingly fallen to marketing, customer service and the entire customer experience have begun to move to marketing as well.
In fact, 38 per cent of CMOs report an increased role in customer service. Nearly a quarter, however, feel underprepared to manage these customer service touchpoints. Salesforce explains that CMOs, now owning the largest share of the customer journey, must partner with traditional product and service teams to offer an optimal experience in the desired channels and timeframes.
3. Dig into data-based insights
A shocking 52 per cent of surveyed CMOs indicated a greater need for personnel with data and analytics expertise. It’s not surprising, then, that CMOs hope to get more data to boost their capabilities even further and improve optimisation of their marketing efforts – one of the top three internal marketing priorities for 2014. That data isn’t just used to optimise and test; the respondents hope to use it to drive demand and personalise experiences.
Deloitte states that CMOs must invest in tools that support efforts to better personalise and optimise over time, built on a solid data foundation, and this is increasingly the case: web personalisation and marketing automation were the top two digital marketing areas where CMOs planned to focus more efforts in 2014, as explained further in expectation five.
4. Operate in real-time
To get the most from their data and analytics experts, CMOs should make additional investments in the tools that support their real-time customer-facing efforts—namely, web personalisation and marketing automation.
Not surprisingly, these were the top two areas where CMOs planned to focus more efforts organisationally in 2014, according to Salesforce. This type of marketing requires continual optimization and real-time attention from content and campaign teams. Unfortunately, many teams are still operating under traditional annual and quarterly campaign calendars.
5. Master the metrics matter
To prove that the changes and investments they’re making are driving revenue, CMOs know that they need to be focused on metrics that matter to the business. At the top of that list, 53 per cent of surveyed CMOs said ROI was that metric. CMOs are increasingly expected to do more than plant and water the seeds of feel-good brand awareness, and many feel that ROI is the most important measure of their labours.