As a Chief Marketing Officer (CMO), you are expected to be organized, strategic and focused on business results. To demonstrate the value of marketing in uncertain times and get recommendations on actions to take in times of inevitable budget cuts, you should consider the following strategies: Shift your focus from profits to growth. Many factors make high-speed data marketing a challenge for many marketing executives. However, the data marketing maturity curve of the best-performing companies has shifted towards generating actionable insights.
Connect with CMOs and marketing leaders for the latest information on marketing technology, trends, innovation and more. Recent research conducted in collaboration with The CMO Council identified a growing group of vendors who indicated that they were “extremely prepared to succeed as drivers of growth within their organizations.” Gain fluency in the company's language. If the control of the data is in the hands of the IT department or a third party, the information in the data will take much longer to reach the marketers who need it. Marketing departments and their leaders must also understand the foundations of digital technology and its impact on brand awareness, potential customers and revenues.
Even the most relevant and up-to-date data is useless if you don't have people who can interpret the numbers and develop strategies to put them into practice.
Break down silos for success. These tools also help the modern CMO to document the value for the executive suite with a strategic point of view, empathy with the customer, measurement and analysis capabilities, and competent financial management. They are responsible for creating and executing marketing plans that promote the organization's products or services.
The CMO's job is to measure the performance of data marketing using various KPIs, including consumer market data, advertising performance metrics, the customer's lifetime value, and more.
Activate support for growth initiatives. The daily responsibilities of a marketing director vary depending on the size of the organization. Both growth CMOs and the company measure growth in terms of revenue and market share at similar rates.
Marketers need the right tools, but choosing from thousands of available solutions is another challenge. We'll help you develop your leadership by prioritizing strategic initiatives, providing strong reference points and tactical tools to help you make informed decisions, execute them quickly and be a successful CMO. As a CMO, you have an important role to play in driving sales and revenue growth for your organization. By understanding how to leverage data marketing technology, developing fluency in your company's language, breaking down silos for success, and activating support for growth initiatives, you can unlock new opportunities for your business.