With the increasingly changing consumer needs and behaviour, CMOs are becoming a natural choice to spearhead the digital revolution. In order to stay relevant in today’s marketing landscape, CMOs must meet both the needs of the customer and the needs of the business, in parallel.
The Chief Marketing Officer (CMO) has historically worn many hats: the ideas person, the brand person, the creative thinker, the design person, the list goes on. Over the past decade though, the savvy CMOs helped instigate a shift in the mind-set of others in the C-suite. Today, the CMO role is becoming increasingly important for businesses due to the emergence of new platforms and innovations in marketing.
Close to the Customer, Closer to the Strategy
At a time when markets are moving faster than ever before, smart organizations are inviting CMO to sit at the table with CEO and other C-level executives – for representing the voice of the customer in the business conversations.
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Today’s CMO needs to educate the management and the organization as a whole about how the market reacts to business decisions, strategies and guidelines. Ultimately, a customer-focused business is a business that will maintain its customer base, while also discovering new business opportunities and building lasting, reliable tracking.
Added Insights Yield Greater Return
Over the past few years, there has been a huge influx of dedicated marketing applications that allow CMOs and advertisers to better track, manage and maximize the impact of marketing on a business. This increase in tools has enabled CMOs to run a “marketing business” while providing a wealth of data that can bring business information.
Helping the team leadership team to truly understand the customer concept is important. In today’s world where business-to-business (B2B) and business-to-consumer (B2C) alike strive to keep customers engaged, and these customers expect more than ever, having the details of personal provisioning, customization is essential. .Using customer insight allows CMO to become the guiding light of the business, representing and understanding the market imperatives at all times.
It is not enough to have a good product, technology solution or even a good marketing campaign. Companies that establish closeness and focus on customer experience and collaboration can outperform those that focus only on pure financial metrics in terms of revenue and profits.
Also Read: Optimize B2B Marketing Strategy with Critical Customer Insights
The Difference Between Brand And Brand Intimacy: The CMO As The Change Agent
Consumers want their needs to be met, but they also want the products they work with, to be in line with their beliefs and lifestyle, according to “Brand Intimacy Study 2019,” published by MBLM and Praxis Research Partners. Consumers want to ensure that choosing a particular type has meaning and value – that it will enable them to be more connected and connected.
Brands need to be focused on individual and / or group processes, not just by practice, but by necessity. Software companies like Slack, Box, Monday and WhatsApp have achieved this. It has become a daily practice for development teams that use Slack to participate in sprints to test the app.
The increase in demand for product closeness, coupled with the increase in technology and information available at the hands of the CMO, has created a good reason for CMOs to have that seat on the board. They are the ones who bring business to something that a few others can do: blue sky thinking and business information-driven by data that can ultimately enhance customer loyalty.
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