Why CMOs Should Always Rethink About What they Already Know

    Why CMOs Should Always Rethink About What they Already Know-01

    Succeeding in 2022 requires CMOs to let go of the assumptions they hold about their marketing practices and put their strategies to the ultimate test to get the desired results.

    2021 was the year that CMOs witnessed the most upheaval in their B2B marketing process. On the bright side, many of them have witnessed an increased in their budgets (63%), as per Hubspot’s “Not Another State of Marketing Report 2021,” allowing them to effectively deal with the issues that they faced a year before. Not only was it the year where they had to rethink their approaches towards marketing, but they also had to deal with constantly changing customer behaviors and expectations. This shows that marketing, at its core, is fluid and the moment something thinks they have got everything figured out is the exact moment when the things begin to fall out of place.

    The strategies that helped CMOs to easily win a specific marketplace can quickly become obsolete and can jeopardize their chances of continued success. Acknowledging this fact is the first step CMOs can take to stay ahead of the curve. However, awareness is of no use if one does not accept any responsibility to act on it.

    Also Read: Enterprise Automation: Trends for Marketers to Watch in 2022

    CMOs should always be open to trying new things and strategies. They should test with workflows that they are still not sure and most of all not take anything for granted. By doing this, CMOs will discover the actual value of what they think they understand and new methodologies and practices that can only be discovered via iteration.

    Here are a few recommendations based on the assumption that CMOs should rethink:

    • Consider “awarenes” and “demand” as the same

    In today’s environment, there is no shortage of contact data for B2B audiences. There are numerous channels where CMOs can reach them on a 1-1 basis. CMOs should understand that awareness and demand strategies are no longer that different. It is high time they test their assumptions that some activities are “awareness” and some are “demand.”

    • Do not neglect home-grown leads for paid platforms 

    Viable leads for B2B marketing are coming less and less from digital strategies or social media sources. Yet, there are many platforms that claim to reach the target B2B customers, but when measuring the benefits, it is often found they do not stack up.

    Also Read: Top Four Reasons Why Businesses Should Consider AI-Powered Chatbots for Marketing

    Some platforms discuss about ABM (account-based marketing) and build contextual awareness of buying groups. However, for B2B marketing the data is there. CMOs often need to just get the data, develop a strategy, communicate the value proposition of the product and make an offer.

    • Test the strategies 

    One of the hardest pills that CMOs often have to swallow is admitting that most of their marketing problems are strategic. The strategies have not been tested, validated, or indicated product/market fit. CMOs should figure out the most effective elements of each system by putting them to the test, see what does and does not work and iterate depending on the findings until they discover the optimal combination.

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    Vishal Muktewar
    Vishal Muktewar is a Senior Correspondent at On Dot Media. He reports news that focuses on the latest trends and innovations happening in the B2B industry. An IT engineer by profession, Vishal has worked at Insights Success before joining Ondot. His love for stories has driven him to take up a career in enterprise journalism. He effectively uses his knowledge of technology and flair for writing, for crafting features, articles and interactions for technology enterprise media platforms.