Tag

Budget Archives - NVISION

Top Characteristics of Transformational CMOs of Tomorrow

back of a man with arms crossed - transformational cmo

One of the most significant challenges facing modern CMOs and marketers is how rapidly the marketing industry changes. Between new technology, new customer demands, and new cultural trends, it’s more important than ever that CMOs keep their brands positioned for rapid success. That’s why Bob Van Rossum at Business2Community.com spoke with some of the top marketing recruiters in the industry and has put together what he believes are some of the key characteristics of “the transformational CMO of tomorrow,” the type of marketing leader that is equipped to lead his or her brand into the future.

Let’s take a look at a few of the most important characteristics.

Focus and Understanding of the Buyer’s Journey

For many brands, the sales cycle is a long and protracted one. For others, the intricacies of the marketing supply chain – from the creative team’s demands to the CFO’s strict budget requirements – make for extremely complex marketing operations. Either way, as the buyer’s journey becomes longer and features more distinct “moments,” transformational CMOs must be ready.

As Van Rossum says, “We look for leaders that are capable of understanding the various pain points a consumer may encounter during the customer journey. By truly understanding the buyer’s journey, CMOs are better able to drive engagement and growth.”

And that doesn’t just mean knowing which marketing materials will resonate best at each stage. It also means planning ahead and enabling an agile and responsive marketing supply chain that can quickly adapt and react, allowing the brand to capitalize on each moment of the buyer’s journey. Transformational CMOs will be sure to work with partners who enable this responsiveness and success.

be the change - brand activism

Creating Emotional Connections to the Brand

In increasingly crowded markets, it’s no longer enough to simply offer a superior product. Transformational CMOs must use their marketing materials to create a meaningful, lasting, emotional connection with their customers. “A strong brand goes far beyond a memorable logo or slogan…it needs to be immersed in every element and strategic move of your organization to make a true impact,” Van Rossum says.

Developing these connections between your brand and your customers requires both a close examination and an intricate understanding, of changing customer demands and cultural trends. But capitalizing on them, and using them to create lasting, deep bonds with your brand requires agile and responsive marketing operations. When an opportunity arises, your marketing logistics should be simple and fast enough to seize on it before your competition does, and execute on it in a way that keeps costs low and ROI high.

Foster an Agile Mindset

Transformational CMOs must be familiar with what Van Rossum calls “lean and agile” methodologies. “Lean and agile methodologies have transformed other industries, and have a great potential to improve practices within the marketing space,” he says. A lean mindset is one that helps brands maximize customer value (which should always stay top priority) while optimizing for a specific desired outcome. An agile mindset, on the other hand, helps your marketing efforts adapt in real time as you keep your customers the central focus in building effective solutions.

To this end, partnering with a marketing supply chain and logistics partner can take much of the burden of searching for ways to stay lean and agile off of the CMO themselves. By working with an expert whose business is keeping costs low and production time short, CMOs can foster this transformational attitude in all areas of their operations, saving time and preparing for changing definitions of success.

Subscribe to the Blog

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

What Smart CMOs Are Focusing On in 2018: Gartner

2018 has already been a big year for CMOs. Between advantageous new U.S. business tax laws and the growth of multi-channel marketing, many brands and CMOs are tackling new opportunities, as well as new challenges. That’s according to Chris Pemberton at Gartner, who shares several of the key lessons and takeaways that the research and advisory company has identified for CMOs in 2018. 

Let’s take a look at some of the major trends and opportunities facing CMOs this year, and how to position your marketing department for success!

Man holding tablet with icons popping out - CMO

Marketing Budgets Tied to Results

According to Gartner, 75% of CMOs in the “Leaders” category expect their marketing budgets to increase in 2018. That’s despite the fact that Gartner reported that marketing budget growth stalled in 2017. The reason? 70% of CMOs who expect their budgets to increase predict those increases will help support advanced marketing analytics and customer intelligence.

It is due primarily to a growing need for more concrete marketing KPIs and metrics that more closely tie into the organization’s business goals. Things like conversion rates and MQLs/SQLs will be key for CMOs to prove their impact and justify their budgets. CMOs should prioritize revenue attribution and strategic partnerships that feature robust analytics and results tracking.

Marketing Technology (Martech) Grows in Importance

Gartner also found that marketing technology (martech) will grow in both strategic value and budget expenditure, among leading CMOs in 2018. According to the firm, far more of their designated “Leaders” than “Laggards” are leveraging martech, with 26% of the latter claiming they are not effectively acquiring or using it, compared to just 16% of the formerFurther, more than twice as many Leaders (65%) as Laggards (31%) plan to increase martech spending this year.

It is primarily due to several factors. Organizations that are rapidly growing need the scalability that martech automation provides. Plus, the efficiencies in both cost and time that martech offers deliver greater attributable revenue and profit, the ultimate goal of CMOs everywhere. CMOs should perform skills assessments and technology audits to determine whether an increased investment in martech is right for their organization.

three female shoppers-retail

Increased Focus on the Entire Customer Journey

From acquisition to retention to growth, leading CMOs understand that the customer’s journey is a long one, with the need for specific and personalized marketing materials that capture and resonate with the customer each step of the way. According to Gartner, leading CMOs emphasize analytics in all aspects of their marketing operations, from supply chain to ultimate asset performance, to measure the customer’s journey.

This attention to detail allows savvy CMOs to anticipate and prepare ahead of time for what marketing materials and activities they will need, and equips them to be ultra-responsive to shifting customer demands and requirements. It is this understanding of the customer journey as a long and changing one that will set successful CMOs and organizations apart from those playing catch-up.

Subscribe to the Blog

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