With businesses turning customer–centric, the need to prioritize data based decision making, has grown over the years. Segmentation and targeting on the basis of data and analytics to drive conversions have taken the centerstage. Modern marketers should focus on marketing analytics to obtain in-depth insights from all customer touchpoints. Understanding which data is relevant, is one of the major challenges for today’s marketers. Marketing intelligence is the key driving force behind transforming unstructured and siloed data into meaningful execution that powers branding.So, it’s time to address the elephant in the room. Are the CMOs equipped sufficiently to implementdata-driven brand revolution? Let’s find out.
CMOs And Their Mania With Customer Experience
Keepingcustomers at the center of the marketing strategyrequires considerable strategic insights from the CMOs, as they are increasingly enthusiastic about customers’ experience with the brands. Insightful datafrom the marketing campaigns, driving customers’ perception towards brands,have the ability to affect the bottom–line.Today’s marketers should emphasize to utilize their skills and knowledge to new channels and their marketing insights to impact business growth.
Encouraging CMOs To Expand Their Risk-Taking Capabilities
For harmonious customer experience one needs to integrate the internal silos of the organization, balancing both the short-sighted and far-sighted vision. This requires seamless association among different departments such as finance, operations, customer service etc., spanning across the organization.C-level executivesshould empower the CMOs to take on a more impactful and strategic role in the organization. But in most cases, C-suite’s hiring decision becomes impoverished when he hires someone with the vision of driving growth and on the contrary, delegateshimforcommunications solely. Any CMO who understands the customers best, should be given the highest priority with extended tenure and CEOs must delegate CMOs with bolder and challenging initiatives.
Striking A Balance Between Data And Creativity
While it is true, that today’s CMOs should be data-driven and analytical about various customer touchpoints, their behavior and overall marketing ROI, it is essential to place equal gravity to creativity. Storytelling plays a pivotal role in building successful brands and should not ignored at the expense of analytical thinking. Creativity and analytics shouldblend in the right proportion which is critical to drive successful marketing campaigns. This is achievable when a vigilant CMObuilds great team with functional experts withanalytical bend of mindto support him in his endeavors.CMOs should ask the right questions and fill the knowledge gap with ongoing learning not only for himself but also for the entire team.
With the right combination both data-driven insights and creativity, the future of brandslookpromising. CMOs must prepare themselves for a massive shift in their outlook and perception towards their roles and responsibilities, and take on a more direct initiative towards changing organizational mindset towards data-oriented attitude. Utilizing marketing intelligence to their advantage will be rewarding in the present data-driven era.If you’re interested to get more insights on the solutions to make lean, agile and data-driven decisions that can significantly impact your bottom–line, eConnect, with its extensive experience with B2B AI-driven marketing intelligence, can help you achieve improved ROI and efficiency. To learn more, please get in touch and our experts would be glad to help.