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Business Forecast & Trends

NVISION Insights and Innovation Team
In CMO, Marketing ROI, Digital Marketing, Marketing Operations, Marketing Strategy, Accountability, Business Forecast & Trends

Redefining CMOs Roles in 2020

man with chess board - full

The definition of CMO is blurring across the business landscape; the advancement of Martech and the accessibility to data is forcing the traditional CMO to evolve and expand their responsibilities.

Elite CMOs are expected to play a pivotal role as growth drivers in the organization, and this is where the integration of a CMOs role begins. Recently, Forrester Research published an article predicting how the role of a successful CMO will evolve beyond 2020, and here’s how.

growth chart-CMO's mindset1

Own the Customer Experience

As the landscape of marketing steers away from focusing on the legacy strategy in acquiring new customers to creating a direct-to-customer environment by providing hyper-personalization, the expectations of CMOs have also shifted to become an owner of the customer experience across all touchpoints.

To maintain this ownership and thrive even further, CMOs need to capitalize on data science and analytics to provide impeccable customer experiences while, at the same time, being compliant with the regulations that govern the privacy of data.

2020 represents a year of re-imagining CMOs roles to transform into an influencer of the customer experience by creating and positioning the marketing ecosystem.

people shaking hands-partnership

CMO is No Longer Chief Marketing Officer

The CMOs role will no longer be about being Chief Marketing Officer. The role now has more dynamic responsibilities as being a Collaborating Marketing Officer or Contributing Marketing Officer.

Marketing should interconnect everyone throughout the organization. That’s how you build your brand unity, brand voice, and brand image. Without this continuity, you can’t sell, connect, or service your brand. The entire organization must stand behind the consistency and the value of the brand that they represent.

According to the article, “In 2020, one designated C-suite leader will be responsible for all that surrounds the customer, clarifying the role of marketing in a business environment obsessed with growth.” And that role will most likely be filled by the CMO. A connector that amplifies the growth goal and the brand vision with C-suite members and decision-makers, and a contributor to influence both the internal and external brand impact.

CMOs must find ways to collaborate with a multi-layer of influencers to drive impact across the business by connecting different facets of the business.

business woman speaking to associates

2020 Vision Required

Generational gaps are slowly creeping in the marketing world as younger groups of leading management emerge. The perspectives on long-term growth goals and identifying barriers for the growth may differ by generation.

Regardless of these generational gaps on how to interpret strategic goals and success, the role of the CMO must comply with the business growth goal while satisfying all levels of the audience, both internally and externally. Smart CMOs should account for this generational trend by developing a succession plan for long-term growth. One of the prime responsibilities of CMOs is to prepare the next generation of marketers with the forward vision that is better suited for the new marketing landscape.

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2020 will be the year that many CMOs will transform to expand their influences and responsibilities.

The sophisticated customer demands will force CMOs to take ownership of developing a memorable and impactful customer experience, while creating the culture of the brand, to influencing internal decision-makers and developing the next generation CMOs.

It may sound like a big weight to carry, but for CMOs that prioritize the right objectives, it should be a successful 2020 and beyond.

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NVISION Insights and Innovation Team
In CMO, Marketing ROI, Marketing Trends, Marketing Operations, Marketing Strategy, Business Forecast & Trends

Next Generation CMOs: Transformation Leaders

butterfly out of cocoon

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.

man on a toy car in flame - growth

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.

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.

businessman holding tablet

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.

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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?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Building Products, Business Forecast & Trends

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

home building site

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.

high rise construction site - building materials

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.

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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.

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

LEARN MORE