CMOs help organizations grow and stay resilient in a dynamic market
By MYBRANDBOOK
Anita Kukreja
Head of Marketing & Channel Sales - IceWarp
The evolving role of CMOs
According to a Salesforce study, 76% of customers expect companies to understand their needs—with personalized content and experiences key to high satisfaction.
Businesses have become customer centric and that definitely boils down to the needs of CX; the scope is huge wherein every customer touch point has to deliver an experience to the customer. Every organization needs to create a competitive edge in the market, and what stands out is the experience they deliver to customers which is imperative.
Positive experiences lead to return purchases, which, in turn means more revenue and lower cost per acquisition and customer retention costs. Plus, great CX means more word-of-mouth referrals, more sales, and it also means that their company grows at a sustainable rate without increasing the marketing and advertising costs.
Contribution towards strategic business discussions
The roles of CMOs today have evolved and are largely involved in business strategy and growth. CMOs should be ready to deliver growth and resilience more than ever before. Most CMOs focus above all on innovation and growth—on building data and insights-driven marketing organizations that can read customer signals at scale and make them actionable in real time. In a dynamic market, that is where CMOs can help organizations grow and stay resilient.
Today, CMOs need to be absolute experts on customer behaviors and trends and be hyper-aware of the competitive landscape, historical business performance and wider mega-trends. There is no longer an option to operate without a powerful insight engine. Companies can’t be customer-centric if they do not understand customers and the holistic reality of the world they live in.
Real-Time Marketing to Drive Sustainable Growth
CMOs need to enable real-time marketing to benefit the impact which is created on customer behaviour, translating into specific business outcomes. Data-driven marketers realize better business outcomes from real-time marketing growth.
Real-time marketing can enable CMOs to deliver a competitive differentiator through actioning data and insights instantly.
In a highly competitive marketplace with evolving customer attitudes, new desires, and new competitors, every market is noisier than ever. To uncover what buyers and customers want, CMOs must have relevant insights into what is actually happening throughout the entire buying journey. From early-stage interest all the way through interactions with late-stage marketing content (and even after purchase), these insights must continually inform the next interaction.
CMOs cannot afford to base their strategies on incomplete or old data. They need real-time, actionable information that can guide decisions and answer questions, including those they did not even know they had.
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