As marketing has been transformed by the digital revolution, so has the role of the Chief Marketing Officer.
Marketing executives are called upon to lead their teams through rapid changes, adjust to evolved buyer behavior, and drive growth for their organizations. The CMO must find ways to be relevant not only to the business as a whole, but to each customer through authentic and personalized experiences.
“In the era of mass advertising, when traditional broadcast was very effective in reaching consumers, CMOs spent a lot of time and energy on branding and communications,” states Ken. “While having a clear, compelling story for the marketplace is still very important from a branding and communications perspective, in the digital era other complementary skill sets are required—such as application of technology, analytics, and operational processes.”
If the role of the CMO is to champion growth and the customer experience, how does a marketing executive get there? Here are four skills a CMO must employ if they want to succeed.
Speaks the Language of Data
Traditionally, marketing has been focused on the creative. And while there will always be a need to create compelling content, the digital age requires marketing executives to be data-driven.
Because today’s CMO might not have started in the data and financial world, there’s an urgent need to learn how to generate revenue and prove marketing’s value. This requires a language shift as marketers seek to demonstrate bottom line impact to the rest of the C-suite.
“Marketing leaders need to become data-driven decision-makers and utilize insights to optimize buyer experiences,” explains Ken. “To maximize marketing impact, your strategy needs to incorporate a holistic approach to effectively engage buyers—spanning data, people, processes, technology, and content. This will enable you to clearly articulate the impact marketing activities have on buyer behavior.”
According to a recent study from Forrester, 61% of marketers are using predictive analytics. This data helps CMOs gain greater insight on buyer behavior, and how to run their teams more effectively and efficiently.
It also leads to a rise in expectations, authority, and opportunity. Data-driven marketing leaders who deliver growth are often called upon to lead broader initiatives in areas outside of marketing, such as product, operations, and customer service.
Creates Exceptional Experiences
The intelligence a marketing executive gleans from data will also be instrumental in creating more authentic customer experiences.
It’s not enough to make grand, sweeping assumptions about your audience and call that personalization. To ensure frictionless interactions, marketers need a deep understanding of their buyer personas and what makes customers tick.
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