Top Three Struggles Faced by Chief Marketing Officers Today

    Top Three Struggles Faced by Chief Marketing Officers Today

    The Great Resignation, political unrest, and inflation are just some of the challenges businesses face today. Unfortunately, CMOs find themselves in a difficult position as they attempt to adjust to rapidly evolving consumer trends and a digital environment that is becoming more segmented.

    Expectations for CMOs continue to evolve as the industry enters a post-pandemic environment. More than ever before, top marketers are in charge of several aspects of the company. Today, marketing leaders are more than just brand advocates; they are also technology innovators, business strategists, and drivers of revenue streams. The range of duties of the CMO has expanded, unlike anyone else’s in the C-suite.

    What currently stands at the top of a CMO’s responsibilities as demands and expectations of marketing leaders and their teams continue to grow? What are the top challenges faced by CMOs today?

    Developing Meaningful Relationships with Customers

    Relationships with customers are everything. Having stated that, there are three main reasons why developing lasting relationships with customers is crucial in 2022:

    • Digital marketing is becoming overcrowded.
    • The digital environment is growing more segmented.
    • Consumer intelligence is growing more quickly than businesses can handle.

    Building relationships rather than awareness is increasingly important when reach through traditional marketing methods becomes more decentralized. Customers expect companies to be original, authentic and grounded in current political and social issues. CMOs must change their marketing strategies from broad reach to hyper-focused channels to respond to these trends. They must produce unique, insightful content that speaks to the needs of their audience and focus on strategies that cater to them at every stage of the sales process. A seamless digital experience that facilitates conversions is also essential. 

    Utilizing Big Data to Improve Marketing Funnels

    CMOs should be more agile and embrace Machine Learning (ML) to transform their disjointed marketing strategies into targeted ones that can better handle the increasing online intelligence and a changing media landscape.

    First, CRMs allow webmasters to combine information from various email marketing campaigns, ad networks, and analytics systems to get a holistic picture of customer journeys. Suppose marketing leaders want to understand their customers better and meet them at the proper channels. In that case, they must think big by using the power of big data by critically assessing the customer journey and using personalization and automation to differentiate their brand and drive results. 

    Also Read: How Chief Marketing Officers can Identify and Overcome Burnout

    Second, using ML in conjunction with applications like predictive analytics and lead scoring enables a deeper understanding of consumer behavior. With the use of these technologies, webmasters can divide user cohorts depending on the actions visitors perform on their website and send automated responses tailored to their activities and level of participation. 

    These solutions can also cross-integrate platforms and provide valuable marketing data to sales teams for follow-up. Gaining insights into customer behaviour and automating responses with appropriately targeted content gives CMOs a significant advantage.

    Retaining Employees

    Unfortunately, one of the main difficulties CMOs encounter is internal rather than external. Skills shortages have impacted almost every industry, including marketing. This issue is made worse as marketing has evolved and now calls for specialized professionals, including hiring skilled content marketers, advertising experts, or data analysts.

    However, outsourcing many marketing duties to specialized firms with a combination of specialized and general skills is the ideal way to overcome the difficulties posed by constant staffing turnover. CMOs can benefit from outsourcing out tedious work such as content generation, webpage development, web design, and website auditing to freelancers or an agency. 

    This approach provides access to more specialized data, and saves time and money. This approach also frees up time for internal teams to work on priorities like data management and real-time ROI analysis to optimize the usage of the marketing budget. 

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