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Business Forecast & Trends

Next Generation CMOs: Transformation Leaders

The marketing industry is constantly evolving. These changes bring new opportunities and roles for CMOs and the brands they represent, alike. Brand marketers today are stepping away from legacy marketing tactics and inventing new, exciting campaigns to reach customers.

According to Deloitte’s Jen Veenstra in her article, “If CMO roles as we’ve defined them have required proficiency not only in marketing but across multiple business functions, the job has expanded even further in complexity to include sustainable growth, highly personalized customer experiences, and advanced marketing innovation.”

In order to ensure success, CMOs need to embrace and step into key strategic roles. By doing so, you will increase opportunities to enhance brand awareness, driving revenue for your business, and expanding your own professional repertoire.

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Growth Driver

It is vital that CMOs drive growth for their brand. When they fail to establish and implement initiatives for improvement centered on growth, the brand suffers.

Most CMOs measure growth using revenue. However, this seems like a daunting task to accurately attribute, and many marketers experience disconnect when trying to drive growth through revenue.

But CMOs must put in the effort to become comfortable using revenue as a metric for growth by adopting the new role as enterprise business growth leader.

At the end of the day, one of the critical responsibilities that a CMO has is to have an end-to-end view of the customer, acknowledging trends, and making strategic recommendations to outsmart the competition to grow business. It is, ultimately, the bottom line for C-Suite decision-makers.

CMOs must put in the effort to become comfortable using revenue as a metric for growth by adopting the new role as enterprise business growth leader. It is, ultimately, the bottom line for C-Suite decision-makers.

Customer Champion

Embracing customer data and intelligence are important ways for brands to deliver better customer experiences. You can gain valuable insights by collecting and tracking both emotional and transactional preferences from consumers across all channels.

CMOs can then use this data to become the “voice” for their shoppers. And, consequently, CMOs will more effectively engage with their target group of consumers and provide a personalized buying experience.

When brands know what consumers want and what their expectations are, they can implement marketing approaches that personally “speak” to customers.

When brands know what consumers want and what their expectations are, they can implement marketing approaches that personally “speak” to customers.

Storyteller

Riveting, intriguing stories engage consumers’ interest. So, CMOs should ensure that they effectively assume the role of storyteller. By creating and sharing an entertaining narrative about your brand and value, shoppers will be more drawn to what you have to say, and more attracted to your products. Marketers can reshape their brand’s image through the stories they tell consumers.

As Veenstra explains, “It’s still up to marketers to safeguard and disseminate the news about their companies’ brands and invite consumers to participate in the narrative. Chief storytellers have been defined by their part in promoting brand relevance and consistency, and it appears they aren’t straying far away from this role.” Growth-oriented CMOs see storytelling as a thriving and exciting opportunity to connect with customers.

Growth-oriented CMOs see storytelling as a thriving and exciting opportunity to connect with customers.

Conclusion

CMOs no longer have only one role to follow. Brand marketers who want to remain profitable and relevant in today’s ever-changing market must wear different “hats,” hence, the future roles of CMO are likely to become even more complex. By adopting the enterprise-wide mindset to align with the shared goals, and to become a brand’s voice for consumers, CMOs will become the major player behind their company’s success.

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Why NVISION?

NVISION® is a marketing execution company helping Fortune 1000 organizations optimize their marketing supply chain process. We provide the expertise to simplify the creation, procurement, fulfillment, distribution and ongoing account management for customers’ printed marketing materials.

With 100 years of supply chain management expertise in streamlining operations, leveraging buying power and creating innovative solutions, we reduce cost and increase speed-to-market. NVISION provides dedicated experts that understand clients’ brand standards, internal processes, deadlines, and distribution needs.

We manage every step of the process to deliver marketing operations – simplified.

See how NVISION can help your business | Let’s start a conversation about your complimentary assessment!

Mixed Reality Marketing:
Three-Dimensional Storytelling

Marketers are always seeking the next big thing; whether its an emerging trend, a new generation of consumers, a viral social platform, or a technological innovation. Many experts predict that the “next big thing” for brand marketers is the Mixed Reality (MR).

Mixed Reality (MR), including Augmented Reality (AR) and Virtual Reality (VR), is becoming more and more attractive. Technological advances give customers a whole new way to visualize and experience products in different settings.

According to David Roe in CMS Wire, “MR, also referred to as hybrid reality, is the technology that is used to merge real and virtual worlds and produce new environments and visualizations where physical and digital objects co-exist and interact in real time.” It is predicted that a staggering 100 million consumers will be using MR by 2020.

In order to ensure future success, brand marketers should stay ahead of the curve and be able to capitalize on the opportunities presented by advances in MR technologies. So, what can brands do to take advantage of MR technologies?

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Reimagine Advertising

MR technology enables marketers to be creative with their advertising experience by placing the brand image closer to the eyes of consumers.

Brands can take customers on an experiential “test drive” of their product before making purchase decisions. This builds confidence in their product with ads that can transform UX and the buyer’s journey into the next level.

Using MR technology, brand marketers can also tailor their ads by applying consumer’s preferences where the content of each ad shifts by specific circumstances and even with different languages.

This will help brands tell a better story in a more compelling and a meaningfully interactive way. With Millennials and Gen Z becoming the prime consumer group, the early adopters will have the upper hand in providing a superb customer experience and staying ahead of the competition.

Brands can take customers to experiential “test drive” of their products before making purchase decisions using AR technology.

Let Users to Truly Connect

Where there is content, it gets shared. You and five billion other smartphone users instantly connect via various social platforms. AR and VR are the new channels that marketers should consider to increase brand awareness. It is a new way for consumers to connect with your products on a deeper level, from the first-person perspective

For example, home-building brands can implement ways for customers to visually rotate and move furniture online in 3-D, enabling them to more easily see which products look best to them. They can also “see” how various materials and finishes will look and feel in a digital mock-up of a home.

This new trend also bridges the gap between the old and the new. The traditional marketing tactics are evolving as digital and virtual technologies mature, becoming a new storytelling medium for a new revenue stream.

Especially in the form of AR, where no wearable device is required but your smartphone to connect consumers with your products. Simply point and scan brochures or catalogs with an AR app to make a purchase or receive relevant product information and tips.

MR becomes a new storytelling medium for a new revenue stream.

ChatBots 24/7

Some service leaders are now using artificial intelligence (AI) and virtual customer assistants (VCAs) as tools in their contact centers. Brand marketers should consider developing VCAs that can effectively interact with and provide technical support to customers.

By allowing well-equipped bots 24-7 to handle basic customer service queries, customers are cared for when needed, resulting in establishing trust-based relationships between customers and your brand. Using bots can also significantly reduce wait times for customers seeking assistance, which will increase customer satisfaction with your brand.

In the meantime, human representatives can focus solely on helping customers with complex, in-depth issues that require multi-layer customer support. As a result, they will become loyal shoppers and will recommend your brand to others.

Robust support by ChatBots on simple service inquiries will reduce customer wait time and increase customer satisfaction.

Conclusion

As new MR technologies become more available, brands need to capitalize on the different ways to use them in relation to consumers.

By assigning bots to assist customers with simple service inquiries, giving shoppers the opportunity to virtually test drive your products with AR before committing to a purchase, and provide a meaningful first-hand experience to connect with your products, brand marketers can enhance brand awareness, increasing demand generation to drive sales and revenue.

Related blogs:

Subscribe
to the Blog

Why NVISION?

NVISION® is a marketing execution company helping Fortune 1000 organizations optimize their marketing supply chain process. We provide the expertise to simplify the creation, procurement, fulfillment, distribution and ongoing account management for customers’ printed marketing materials.

With 100 years of supply chain management expertise in streamlining operations, leveraging buying power and creating innovative solutions, we reduce cost and increase speed-to-market. NVISION provides dedicated experts that understand clients’ brand standards, internal processes, deadlines, and distribution needs.

We manage every step of the process to deliver marketing operations – simplified.

See how NVISION can help your business | Let’s start a conversation about your complimentary assessment!

NAHB Predicts 2018 Will Be a Big Year: How Can Building Materials Manufacturers Prepare?

Builder confidence reached an 18-year high at the end of 2017, reaching a record-breaking 74%. That number continues to hold strong into 2018, with the National Association of Home Builders/Wells Fargo Housing Market Index predicting another massive year.

That’s according to the NAHB itself, whose Chairman Randy Noel reports that “builders are confident that changes to the tax code will promote the small business sector and boost broader economic growth.”

But, in order to capitalize on this confidence and realize the large revenue influx made possible by it, building materials manufacturers will have to contend with fears of “building material price increases and shortages of labor and lots.”

Single Family Home Growth

The market will be especially hot for residential building materials manufacturers in 2018.

“As the overall economy strengthens, owner-occupied household formation increases and the supply of existing home inventory tightens, we can expect the single-family house market to make further gains this year,” says NAHB Chief Economist Robert Dietz.

For materials manufacturers, this underscores the importance of highly optimized marketing operations, specifically a streamlined marketing supply chain. Whether it’s product samples, printed collateral, signage, point-of-purchase, direct mail, or promotional items, the expertise to simplify the creation, procurement, fulfillment, and distribution of these materials is key to bringing brand touchpoints to life.

Keeping Up With Demand in 2018

“Housing demand should continue to grow in 2018,” says Dietz, and Noel adds, “Our members are excited about the year ahead.”

To seize this opportunity, building materials manufacturers would be extremely wise to take a long, hard look at their marketing operations, focusing their audit on three fundamental tenets:

  • Simplicity: A single view across your marketing operations adds visibility and accountability. Reduce chaos, improve speed, and create efficiency with a dedicated strategic account management team.
  • Cost Efficiency: Visibility into all cost drivers allows you to make more informed buying decisions. Understanding production timelines, specifications, and historical waste allows you to buy smarter and limit wasted spend.
  • Reliability: The right materials at the wrong time are worthless. Your marketing supply chain should deliver on time, on budget, and on-brand, every time.

* * *

2018 is poised to be a big year for building materials manufacturers.

A trusted expert, like NVISION, can help bring your brand to life in a consistent, efficient, and timely manner, and can be a steady, agile, and innovative partner you can count on.

Builder confidence reached an 18-year high at the end of 2017, reaching a record-breaking 74%.

For materials manufacturers, this underscores the importance of highly optimized marketing operations.

The right materials at the wrong time are worthless. Your marketing supply chain should deliver on time, on budget, and on-brand, every time.