Showing posts with label CMO. Show all posts
Showing posts with label CMO. Show all posts

Sunday, December 28, 2014

5 Tips to Help CMOs Improve Social Media ROI in 2015

5 Tips to Help CMOs Improve Social Media ROI in 2015
The coming year will be a watershed one for social media marketing, I predict, and not in a positive way. A topic that was only whispered about in private conversations early in the year is now being openly discussed: For many brands, earned media and content marketing are not delivering results in line with the investments. Some claim our metrics and strategies must mature, but it is getting harder to ignore the limitations of marketing in the social channel. So unavoidable is this discussion that even at the Social Media Today Social Shake-Up, a confab of social elite, a speaker asked from the main stage, "In a year, will any of you produce a deck with 'social' in its title?"

While social circles are buzzing with increasingly sober discussions of the channel's difficulties delivering marketing results, that conversation seems not to have reached the ears of the CMO quite yet. Mainstream marketing media, which was late to recognize the growing investment in social media marketing, is now tardy in covering the growing body of data demonstrating social's challenges as a marketing channel.

Adweek, continuing its trend of being impressed with engagement rather than results, recently featured an article on the "top Tumblr posts of 2014." These posts were not selected as "top" because they delivered any marketing ROI but because lots of people liked them, and thus Adweek has once again uncovered that deep marketing insight that people love inspirational quotes, hot models, animated GIFs and pets. (Shocking!) This is representative of the coverage that social media continues to receive from the marketing media--big numbers lead while investments bleed.

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Friday, August 1, 2014

Why Marketing Automation Is Driving a Bigger Role for the CMO

The newest technology available has led to the expansion of the scope of the chief marketing officer's role. But in some cases, the data-collection technology is outpacing the marketer's skill in knowing how to use it to make strategic business decisions.
Not too long ago I had a wide-ranging conversation with Steve Herrera on the expanding role of the chief marketing officer (CMO) and the marketing organization within the enterprise. Steve knows about such things because he's a director with SEBA International's Go-to-Market executive search practice, which specializes in placing marketing executives within some of the most noteworthy companies in the country. He spends a lot of time speaking with chief executives (CEOs) and boards of directors about what they need their CMOs to accomplish.
There's no doubt that the role of marketing is undergoing some rather radical changes. Once a sub-discipline to the sales organization and tasked with generating leads, creating sales collateral, and organizing customer events, "the CMO is playing a much larger stakeholder role these days, and expanding into just about every function in one way or the other," says Herrera. "Take sales as an example. The hand-off from marketing to sales now happens far further down the funnel than it did just a few short years ago. Many CMOs now have revenue targets to meet."
And that's just the beginning. The marketing group now works collaboratively with product development, engineering, technology, and customer service; many CMOs are assigned specific goals and key performance indicators (KPIs) for these added functions. And, thanks to their seats at the CEO's table, CMOs are influencing the strategic direction of the company as a whole. Perhaps that explains why so many are asked to meet with the board of directors, and are paraded out at stockholder meetings to present the company vision.
What's driving the CMO's newfound cache? As Herrera rather astutely pointed out, it all comes down to technology. "Over the past five years we've seen the advent of sophisticated tools for marketing automation, demand generation tools, and audience segmentation," he says. "As a result, we have a tremendous amount of information available that allows us to track the movements of the consumer, and it's all measurable. The technology has led to the expansion of the scope of the CMO role."
In other words, the tools that are now available to the marketing organization allow them to get super close to the consumer, and keep their thumbs on the pulse of the market. They can measure the smallest of changes in sentiment, and assess when consumer behavior indicates a need for new products or features. The earlier these signals are detected, the quicker the product roadmap can be updated to meet customer demand. No wonder the CMO's input is in hot demand; marketing can quickly detect and articulate what the consumer wants, and provide ample data to prove it.
For their part, consumers tend to reward companies with that level of responsiveness with long-term brand loyalty.
Of course, collecting the data and knowing how to glean actionable insights from it are two different skills. And frankly, the data-collection technology is outpacing the marketer's skill in knowing how to use it to make strategic business decisions. Right now the CMO's biggest challenge lies not in data analytics, but knowing how to use those analytics to make recommendations on a wide range of issues that touch just about every department within the corporation. Marketing automation tools will get the CMO just so far, after that it comes down to instinct - the ultimate people skill.

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Saturday, February 16, 2013

Nine questions every CMO should ask their mobile strategist


With a recent study showing that only a tiny 14% of CMOs are happy with their mobile strategy we thought it was about time people start asking questions about their brand in mobile. 
1) Where are we?
Consumers online are now being heavily influenced by new digital device form factors and the hyper-connectivity that comes with them. The contexts, locations and objectives of online behaviour have increased and become more widespread, yet more diffuse and hard to define.
However, in the face of these very rapid changes, only one in three businesses have a dedicated person responsible for mobile. Whether it is in-house or through an agency partner companies need to ensure that they are fit for an increasingly connected world and that means having someone (or a group of people) responsible for mobile and connected devices. 
It is vital that marketers understand how the “connected consumer” will impact their company in at the very least, the short to medium term.

2) Is our existing activity optimised for mobile?

With UK smartphone penetration now over 64% and with more than 80% of those users going online on their devices your online properties are getting mobile views whether you like it or not .
The question is… do those mobile viewers like what they see? Is your bounce rate high (for bad reasons)? Do you have a flash website? Are your designs responsive? What’s the page load? Does your Facebook application work properly on mobile devices?
If you are spending significant amounts of money on digital activity you need to at least ensure that it works on mobile devices.

3) Are our social efforts mobile optimised?

More time is spent on Facebook via a mobile device than through the desktop (20% of mobile users never visit the desktop site), and that is even more the case for the likes of Twitter and Instagram.
Mobile as a platform is inherently social, mobiles are the communications device of our age, be it through SMS, email, social networking or the good old phone call – they are social by design.
Any social media efforts need to be built around the fact that for a large amount of any given audience, mobile will the default device they engage through. Social needs to be mobile.

4) How do our emails look on mobiles?

Personal email is opened on mobile by 49% of UK phone owners, and that rises to 70% of smartphone owners. So, how do your emails look on a variety of devices?
Chances are that you are still seeing the top left hand 25% of the email. The fonts are too small. It’s trying to load huge images (at least on iPhones) and is in grave danger of being discarded before your beautifully crafted copy has been read.
There is some argument about whether or not responsive emails are worth the effort. It’s pretty clear that from a user point of view they should at least be readable without pinching and zooming around.
If we see emails as the starting point for a variety of customer journeys, it’s also clear that making emails that work well on mobile will be yet another way to get people where you want them to be.

5) Is our offline marketing working with our online properties?

Spending millions of pounds of above the line advertising has been the norm for many brands for years, but as the world increasingly goes mobile CMOs need to start asking how this fits into a mobile world.
With up to 85% of TV viewers using a second device whilst watching TV, and up to 44% of those are looking for products they’ve seen in a TV show or ad it’s clear that traditional media can no longer work in a vacuum.
Marketing campaigns need to recognise that even if their advertising isn’t viewed through a mobile, the chances are customers have one in their hands as they come across adverts and if they are going to act based on that advertising, it’s likely to be through a mobile or connected device.
TV adverts can drive an 80% increase in branded search, but Google will push you down the rankings if it feels that your site isn’t providing a good mobile experience.

6) Are we thinking mobile first?

Thinking “mobile first” doesn’t mean mobile is the most important channel. The focus on what’s relevant and important for mobile users introduces a level of rigour into content selection that usually means that loads of “stuff” doesn’t get included.
Strangely enough, this is usually the stuff that is only on other channels “because there is room”. In development terms (ask the dev teams!) it’s just the best way to start producing any type of online property that needs to be available across multiple platforms.
Yes, that means everything.

7) Do we have a channel agnostic content strategy?

In a world where consumers are likely to be accessing everything, from anywhere and using any device, content needs to be built to go anywhere too.
If you are creating content “for the web site” or “for the Facebook page” you have to ask “What does it look like on an HTC Wildfire?” That beautiful long shot video of the sports car driving down a winding alpine road? It probably looks like an ant in a pinball machine. It’s not easy to get right, but content creation needs to happen with a “mobile first” mind-set too.
All too often there are huge infrastructure problems as marketers realise that the whole content management infrastructure is tied to individual digital properties. Bite the bullet and set that content free.

8) Are you helping consumers at “point of purchase”?

“Connected Consumers” don’t chat to the sales staff to find information in-store. They have already searched the product, compared prices and, if what they see about your product isn’t optimum, then there will be plenty of your competition appearing on that screen.
Test the user journeys as they are. After that, ask them to build new planned, engaging users' journeys with your product and POS as the “call to action”.

9) What will we need to do after we have fixed all that?

Once you have made it “work on mobile”, the next thing to do is to track usage and metrics. Once a platform or device group projects to a certain level of engagement, it is time to enhance for those device types.
In tactical terms that may mean revamping the properties to produce designs and interactions for touch screen  consumer that are very different from what has been the norm when designing for “office equipment”.
In strategic terms, it means focusing on the changes these devices make to traditional digital thinking on “sales funnels” and when, where and how your customers will want to purchasing your products

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Saturday, July 28, 2012

Takeaways From Forrester’s 2012 CMO Study


This month, Forrester published “The Evolved CMO, 2012,” a 15-page study highlighting the salient data and issues facing today’s Chief Marketing Officer. The joint research project by Forrester Research and Heidrick & Struggles presents four critical opportunities for CMOs:
  • Beef up digital and technical understanding
  • Partner with and lead peers on the executive team
  • Increase focus on retention in addition to acquisition strategies
  • Align with sales and service leaders to drive the brand experience throughout the organization.”
The study also explores each of these four points and it would really benefit any CMO (and their partner) to commit them to memory. However, I’d argue a closer analysis of two areas: evolution of the CMO and internal support networks is equally important and thus should be added to the list.
Chief Marketing Officer, PHD:
Overlapping skillsets, ambiguous job functions and technological innovation requires that the CMO role evolve – and keep evolving. Understanding digital behavior has become a prerequisite and the CMO must be a “technologist” as well as marketer so they can understand key data and strategically target their markets effectively.
The CMO is evolving into “the professor” of the company; someone CEOs look to for sage “company IP” or knowledge of the customer lifecycle, direction on targeting the market and positioning of moving the customer conversation into the digital world.  The Chief Information Officer is arguably the over-qualified assistant professor; battle-tested and a wealth of technical resource and support. Both must collaborate regularly to execute sound strategies based on interpreting an increasingly complex and real-time set of data. What’s more, if the CIO can’t understand the customers pain points (through the eyes of the sage CMO), they most likely fail.
Only a symbiotic, trusted relationship where the talents of both the CMO and CIO are applied, will result in a successful tenure.  As the CMO role continues to expand with more responsibility (and BOD participation) so will their average tenure follow (or so I think…).
Flexibility and Support from Within:
CMOs must remain flexible and nimble as their very job description is changing. At closer analysis, increasingly, the evolved CMO resembles the CEO. Therefore,  it’s no coincidence many CMOs go on to become successful CEOs of their organizations when they have years of business leadership, revenue, advocacy and technical adoption acumen under their belt. Skills essential to customer engagement and retention come in handy when leading an organization too.
Don’t forget the Chief Financial Officer. The CFO needs to show the attention and respect to the CMO now more than ever.  This isn’t an entirely popular idea. Customer-driven organizations with CFOs who don’t recognize that importance should consider a new CFO that sees the customer and brand value on par with the CMO. They are far more critical today to the overall growth of the company based on the customer and brand value – and thus no longer that easy to replace. However this may be the only viable solution. Hey, it’s just business.
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