CMO

Showing posts with label CMO. Show all posts
Showing posts with label CMO. Show all posts

Wednesday 4 June 2014

How Today Digital Marketing Organization on Turning Point for Big Changes


How Today Digital Marketing Organization on Turning Point Changes

The explosive growth of digital marketing is driving a significant organizational transformation in which chief marketing officers (CMOs) can redefine and elevate their role as never before. Today’s CMOs now have a broadest of tools to impact and optimize customer experiences and ultimately drive revenue for their company And thanks to recent advances in closed-loop marketing, CMOs can measure and demonstrate the effectiveness of their digital marketing efforts in terms of customer acquisition, customer retention, and revenue growth. His level of measurement is transforming the role of the CMO within organizations, paving the way for“21st-century CMOs” whose tenure is on the rise as they become an indispensable asset to companies.

In fact, according to a 2010 Spencer Stuart survey, the average CMO tenure has risen nearly 50% in the past two years, from 23.2 months to over 34 months. Today’s 21st-century CMOs are pursuing digital marketing across a large number of channels simultaneously.

As they do, they leverage the capabilities inherent in next-generation web content management (WCM) platforms to strike a balance between two conflicting goals: to spread branding and messaging as widely as possible, and to maintain control over their content as they deliver branding and experiences appropriate teach unique channel.

His paper highlights the advances in closed-loop marketing that enable measurement and optimization of digital marketing efforts. It also describes the challenges that CMOs face when pursuing digital marketing strategies and how next-generation WCM solutions help CMOs overcome those challenges.

Demonstrating CMOs top-line contribution

As recently as 2008, the average CMO tenure was less than two years, due in large part to the inability of Cost clearly identify and articulate marketing’s role and to prove its value to the organization (from Brand week ), “CMOs Are Staying in Jobs Longer,” June 25, 2010). This shortcoming has helped fuel the popular belief that marketing is not as critical to business operations as sales, engineering, or finance. In fact, the results of recent Forrester Research survey, “Corporate Marketing: Does It Matter?”, reveal that fewer than 50% of marketers view themselves as responsible for increasing top-line growth or increasing profitability.

But recent advances in closed-loop marketing are enabling CMOs to significantly raise the level of understanding regarding the origin and quality of sales leads developed by marketing, providing organizations with quantifiable business results that can either indemnify or indict a CMO. The following capabilities provide MOs with a wealth of data for measuring digital marketing results—everything needed to engage a prospect and move them through the sales funnel:

• Multichannel campaign management
• Campaign and email analytics, such as opens, bounces, click-through
• Multivariate testing
• Landing page optimization
• Email marketing and analytics with results in hand, CMOs have begun to step into the spotlight., As more and more organizations recognize the growing impact of CMO performance on their bottom line, CMOs are seeing their performance evaluations aligned more tightly to revenue.

Digital marketing: Addressing and re-addressing customers

Digital marketing essentially transforms marketing from a transaction-based monologue to an interactive conversation with customers and prospects taking place on any digital media, be it a smartphone, table device, kiosk, computer, or television. If done in an integrated and methodical manner, digital marketing can help marketers grow their pipelines with more of today’s savvy digital channel customers who seek to be engaged, rather than merely sold to, by vendors.

Addressing and re-addressing the customer is key to success. 

For digital marketing efforts to succeed, cozened to focus on the manner in which they address their customers across the differing online channels. Not all channels are the same. For example, customers using tablet devices might be drawn to an interactive, game-styled promotion while computer-centered customers seek in-depth educational materials.

The challenge for CMOs is to maintain consistent branding and messaging while delivering channel-appropriate experiences that engage each distinct audience. Having the right tools and processes in place to control and improve the user experience in each channel is essential. In essence, a multichannel engagement system—or next-generation WCM—is required to fulfill the digital marketing goals of 21st-century CMOs.

CMOs that do not embrace the benefits of interactive and closed-loop marketing will struggle to compete with their peers and can expect short tenures. Jeff Bell, vice president of global marketing at Microsoft’s Interactive Entertainment Business, foresaw this trend years ago. According to Bell, “The shorter tenure is in part reflection of the change from failing traditional-marketing approaches to less-defined and more dynamic approaches. Clearly the skill set of CMOs is changing from ‘TV, TV and more TV’ to interactive media.”


But even the savviest CMOs face tremendous challenges when implementing digital marketing programs. Firsthand foremost, they are charged with numerous responsibilities that detract from digital marketing efforts, namely the critical activities listed in the following table. 

Marketing must usually manage the applications and external vendors that support these activities, which means overseeing a disparate set of systems and vendors to get the job done. The list can be quite daunting, and includes everything from marketing automation and business intelligence software to providers of customer data and event-triggered marketing.