It's a tough (but probably very well-paying) job for a modern, high-flying Chief Marketing Officer (CMO). Recently they spilled the beans to The CMO Club and Oracle Marketing Cloud. Here's some secrets to their success.
#1 Customer insights
CMOs increasingly want to use documented customer decision journeys as planning tools for marketing. Patrick Adams, CMO of PayPal, says an ideal situation is where there is a "dedicated consumer insights team, but a team that doesn't work in its own little silo."
#2 Digital marketing
Connecting to customers through mobile and desktop websites, apps, email marketing and other digital formats are no longer just an add-on to regular marketing activities. Chris Padgett, VP of Digital Marketing for Nestle USA, says that his digital centre of excellence (COE) "owns all the best practice work" and "works with our strategic partners in the digital world".
#3 Social media
Companies are now facing up to the reality of Facebook, LinkedIn, Twitter, Instagram, Pinterest and more. Grant Johnson, SVP of Enterprise Software Marketing, Lexmark, reveals: "We have a term we call Go Social... you simply log on to the portal and select the relevant content and avenues... then push one button".
#4 Integrated engagement planning
CMOs now have to create seamless experiences for customers across all "touch points" and need to move away from TV and other "above the line" advertising. "We establish the brand voice and try to create and implement consistency across all of our efforts, all of our communication channels and all of our internal divisions/ business units", says Evan Greene, CMO of The GRAMMYs.
#5 Content development
Content is king, or at least critical, to ensure that consumers and business decision makers interact with and share your brand through interesting, relevant or entertaining stories. Raja Rajamannar, CMO of Mastercard, admits that "most content we generate [is] through external support".
#6 Evaluative analytics
Big data, data science, fast data, data analytics - these are no longer buzzwords but real tools and techniques top CMOs use. "Now we can take all this information from various platforms and put it in one place and analyse it and make real-time decisions", says Karen Quintos, CMO for Dell.
#7 Predicitve analytics
The past can shape the future. Jeanniey Mullen, VP of Marketing for NOOK by Barnes & Noble, says she taps into their "search and discovery team, which is not part of marketing, to develop personalised algorithms and recommendation streams" to help customers choose (and purchase) the perfect book.
#8 Customer data management
Customers increasingly demand a unified, accurate and personalised experience when dealing with a brand or company. However, customer data can be spread out across several different systems and needs to be properly centralised for customer support and relationship management. "Getting the data house in order, making it real time and managing it at the attribute level is what's important.", says Steve Ireland, SVP/MD of JPMorgan Chase.
#9 Marketing technology planning and implementation
CMOs realise they can't depend on IT partners alone to solve all their modern marketing problems. Jill Kouri, CMO of Jones Lang LaSalle, reveals "I created a new role to have a marketing technology leader on my team. She is bridging the gap that had existed between marketing and IT."
#10 Innovation planning
A CMO has to produce everyday, tangible results yet keep pushing the envelope in marketing tools and techniques. "You've got to have people who are focused on innovation, which includes offline, online, branding, direct - the whole nine yards", says Jeanniey Mullen.
From old school to top of the class
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