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Being a 21st century marketing officer

Being a 21st century marketing officer

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Published by: workitrichmond on Aug 25, 2011
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CQ5 Web Content Management from AdobeWhite Paper
Te 2st-century CMO: How digital marketingis driving organisation transformation
aking full ownership of customer experience management
he explosive growth of digital marketing is driving a significant organisational transformation in whichchief marketing officers (CMOs) can redefine and elevate their role as never before. oday’s CMOs nowhave a broad set of tools to impact and optimise customer experiences and ultimately drive revenue fortheir company. And thanks to recent advances in closed-loop marketing, CMOs can measure anddemonstrate 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 organisations, paving the way for“2st-century CMOs” whose tenure is on the rise as they become an indispensable asset to companies.In fact, according to a 200 Spencer Stuart survey, the average CMO tenure has risen nearly 50% in thepast two years, from 2.2 months to over 4 months.oday’s 2st-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 widelyas possible, and to maintain control over their content as they deliver branding and experiencesappropriate to each unique channel.his paper highlights the advances in closed-loop marketing that enable measurement and optimisationof digital marketing efforts. It also describes the challenges that CMOs face when pursuing digitalmarketing 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 CMOs to clearly identify and articulate marketing’s role and to prove its value to the organisation (from
Brandweek 
, “CMOs Are Staying in Jobs Longer,” June 25, 200). his shortcoming has helped fuel thepopular belief that marketing is not as critical to business operations as sales, engineering or finance.In fact, the results of a recent Forrester Research survey, “Corporate Marketing: Does It Matter?”, revealthat fewer than 50% of marketers view themselves as responsible for increasing top-line growth orincreasing profitability.
Table o contents
 
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CQ5 Web Content Management from AdobeWhite Paper
Marketers still need greater alignment to business objectives
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, providingorganisations with quantifiable business results that can either indemnify or indict a CMO. he followingcapabilities provide CMOs with a wealth of data for measuring digital marketing results — everythingneeded to engage a prospect and move them through the sales funnel:
•Multichannelcampaignmanagement•Campaignandemailanalytics,suchasopens,bounces,click-throughs•Multivariatetesting•Landingpageoptimisation•Emailmarketingandanalytics
With results in hand, CMOs have begun to step into the spotlight. As more and more organisationsrecognise the growing impact of CMO performance on their bottom line, CMOs are seeing theirperformance 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 interactiveconversation with customers and prospects taking place on any digital media, be it a smartphone, tabletdevice, kiosk, computer or television. If done in an integrated and methodical manner, digital marketingcan help marketers grow their pipelines with more of today’s savvy digital channel customers who seekto 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,CMOs need to focus on the manner in which they address their customers across the differing onlinechannels. Not all channels are the same. For example, customers using tablet devices might be drawn toan interactive, game-styled promotion while computer-centered customers seek in-depth educationalmaterials. he challenge for CMOs is to maintain consistent branding and messaging while deliveringchannel-appropriate experiences that engage each distinct audience. Having the right tools and processesin place to control and improve the user experience in each channel is essential. In essence, a multichannelengagement system — or next-generation WCM — is required to fulfill the digital marketing goals of 2st-century CMOs.
Multichannelcampaign optimisation
Content targeting andmultivariate testing toolsare providing CMOswith a virtual cockpit orcontrolling messagesacross channels. CMOscan tap into critical dataand customise messagesso that every experi-ence is engaging andoptimal. Using multi-variate testing, CMOs canthen evaluate audiencepreerences and promoteor pull campaigns basedon response rates.
 
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CQ5 Web Content Management from AdobeWhite Paper
CMOs that do not embrace the benefits of interactive and closed-loop marketing will struggle to competewith 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 a reflection of the change from failing traditional-marketing approaches to less-defined and moredynamic approaches. Clearly the skill set of CMOs is changing from ‘V, V and more V’ to interactivemedia.”
CMOs who grasp the techniques and execute a sound digital marketing strategy can look forwardto longer tenures with more influence at the executive roundtable.But even the savviest CMOs face tremendous challenges when implementing digital marketingprogrammes. First and foremost, they are charged with numerous responsibilities that detract from digitalmarketing efforts, namely the critical activities listed in the following table. Marketing must usuallymanage the applications and external vendors that support these activities, which means overseeing adisparate set of systems and vendors to get the job done. he list can be quite daunting, and includeseverything from marketing automation and business intelligence software to providers of customer dataand event-triggered marketing.
raditionalInteractive and OnlineCustomer SatisfactionMarketing communicationsSocial media marketing
E-marketing
Public relationsWebsite management
E-sales
Database marketingSearch engine marketing
E-service
Campaign creation andmanagementSearch engine optimisation
Eventmanagement
WebinarsSales support
Executingorganisationaltransformation
Managing so many activities and disparate systems inhibits progress along the path of organisationaltransformation. According to the Aberdeen Group’s 2009 report, “Next Generation Web ContentManagement,” the problem is not a lack of data, but a lack of data quality and an inability to translate datainto automated engagement. For instance, 45% of respondents surveyed by Aberdeen stated that theirNo.  marketing challenge is extracting insight from data. And a full one-third of respondents cited a secondmajor challenge — a lack of resources to derive quantifiable business value from web analytics data.o overcome these challenges, a majority of CMOs are planning to merge their disparate marketingapplications and tools into an integrated marketing automation platform. As the following figure shows,nearly 87% of CMOs who do not currently leverage an integrated marketing automation platform areplanning to do so.
Adoption o integrated marketing technologies1 AdvertisingAge, “CMOs, You Have 23 Months to Live,” June 19, 2006
What is a21st-century CMO?
A 21st-century CMOis one who leveragesdigital marketing toreach customers acrossmultiple channels, fllinga company’s pipelinewith well-qualifed leadsand demonstratingrevenue growth rommarketing programmes.

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