The shift to digital has made martech an exciting aspect of marketing for businesses across all sectors and marketplaces. Many CMOs have seen major transformations in recent years. Everything has changed for them, from their playing field to their tools to the skills demanded of their team members. They had to update not only their strategy but their entire mindset as well.
As in any profession, certain CMOs not only succeed but also soar above the herd and boldly lead the company into the martech era. A unique breed of extraordinarily effective CMOs has flourished when others have fallen or battled to find their foothold. New martech possibilities inspire – rather than scare them. The most effective modern-day CMOs are forward-thinking and innovative, and they like a fair data challenge.
In today’s modern marketing landscape, here are a few traits of successful CMOs.
CMOs have long known that market circumstances fluctuate swiftly, but just when they believed things couldn’t get considerably quicker, they were proven wrong. Almost overnight, marketing teams all across the world were forced to abandon large sections of their marketing strategies in favor of a 100 percent digital strategy. Even in the most active market segments, this served as a warning that the pace may increase without any warning, and CMOs must be prepared to deal with anything.
Now, the marketing leaders are becoming more aware of their ability to be flexible and agile. They have the tools and skill to alter strategy on the fly and respond to urgent customer requirements in ways never believed possible before. Marketers will be able to look back on this massive digitization experiment in a year’s time and use these breakthroughs to fully understand the most promising digital experiences and technology tools that deliver the best experience to customers.
The best CMOs know that technology helps design a smart strategy; it doesn’t replace it. Consumer behavior and demands can be better analyzed and understood than ever before because of digital technology and martech, and astute CMOs are taking advantage of this abundance of information.
Today’s most effective CMOs are digitally savvy as well as strategically competent. They understand that martech isn’t a guarantee of success in and of itself, so they concentrate on identifying platforms (rather than many tools) that produce a measurable ROI.
The global pandemic has taken the wind out of many sails, and as a result, marketing plans for 2020 have been tossed out the window. CMOs are assisting their companies in shifting their strategies to focus on client retention and finding new growth opportunities. With so much uncertainty, one of the most important attributes of today’s CMO is resilience. The ability to adapt to quickly changing circumstances in order to ensure that customers and team members are well-positioned for success, is the highest demanded quality for a successful CMO.
Yet, they must strike a balance between empathy for customers, workers, and the community while making harsh decisions that benefit the company. It’s critical to be able to shift rapidly.
CMOs are leading the charge in developing innovative methods to assist consumers in times of need, as well as for staff adjusting to the new work-life balance.
The most extraordinary CMOs are establishing and leading in a highly collaborative culture as barriers collapse and silos are leveled across the business. They know when to listen, when to ask for input, and when to give their team the freedom to perform to the best. These CMOs not only communicate well with their employees but also with the rest of the company. As firms increasingly employ marketing analytics in corporate decision-making (and invest more in marketing overall), all eyes are on the CMO to activate their data and make it significant. It’s becoming increasingly important for the CMO to act as a bridge, closing the gap between departments and getting everyone on the same page.
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