CMOs become Chief Influence Officers (CIOs) – Re-write the destiny of business
A research report by Forrester in 2014 clearly confirms that the CMOs have moved beyond marketing to lead the charge on multiple fronts. This report inspired me to write this statement “Chief Marketing Officers (CMOs) have emerged as the key influencers in shaping the new digital enterprise. Now, they are business owners demanding a seat at the C-Table. Data, insights and ability to shape the technology innovation that a company could make have transformed Chief Marketing Officers to become Chief Influence officers“. They are at the helm of managing the experience of end customers in the era of experience economy both for B2B and B2C companies. This makes them the de-facto CEOs too which i call – The Chief experience officers of the company.
10-ways in which CMOs are re-writing the destinies of the businesses they lead
- By Aligning marketing goals with growth drivers – Marketing leaders are well positioned to interface and intersect with Company’s r&d, innovation initiatives and positioning refurnish. It could well mean jointly incubate agile and nimble market accelerators through specific point solutions, tools and new offerings depending on the type of industry the company operates in. Leading Organizations are embracing this change already.
- By being more decisive and involved in Operating strategies– In adverently true Marketing leaders can play a vital role beyond their marketing responsibilities alone. It is their general management experience, their strategic insight into customer experience and their first brush as the futurists which can translate into insights around strategy, M&A and execution which act as levers of positioning. Forward thinking Organizations are already experiencing this.
- By being champions of experience management – As the messengers of company to the outside world, marketing leaders are uniquely positioned to translate the different experience touch points and reflections of those back into the Organization. They can position themselves as futurists too who can credibly champion the need of the overall experience management from an offering stand point. Be it a product or a service, be it B2B or B2C it is the marketing leader who can influence the outcome of the leadership in the designated area of operating business.
- By co-sponsoring the company’s preparedness to be successful in Application Economy – Application economy demands swift response to customer comments, feedback and manage brand reputation overall. By leveraging the availability of unique insights from a rich source of data, CMOs can work closely with the CIOs and co-sponsor a tectonic shift that can prepare companies to be at the fore –front of this data revolution. Buying decisions towards internal consumption of IT will be lead by a CMOs’ market facing perspective. This is important against the need to re-furnish the IT stacks, work towards productivity enhancements which are some of the standard IT drivers if otherwise.
- By co-owning the culture of the Organization and making customer experience as the new Organization centroid: It is imperative that CMOs will be the frontrunners to enable a sea change in the culture of the Organization. They are becoming the Chief Culture Officers and Change agents in this context. By working with the Chief human resources and people officers of the company, the CMOs can shift the momentum in preparing the company to become the most passionate and remarkable in truly understanding and positioning “customer experience” at what I call the “culture centroid” of the company.
- By pointing the next and happening technology shift that can make or break a company’s fortunes: CMOs can play the role of futurists and yet pragmatic advocates of technology shift that can influence the way the business outcomes translate. By being disruptive in embracing and implementing new technology inflows, CMOs can be the quintessential persons of agility and transformation.
- By advocating deeper customer relationship(s) than seeking happiness in increased brand awareness: CMOs can strengthen the frameworks to mine, cultivate and sustain deeper customer relationships through proactive data driven insights than just working to leverage social business models to spread the brand fabric. More importantly through actionable metrics that clearly point either a upswing or a downward spiral in the company’s client relationship indices.
- By shifting from medium as the messaging to experience as the messaging. By redesigning the art of messaging into a scientific model that results in increased engagement: Future ready CMOs will have customer engagement as the most important metric to foster business growth. This could mean shifting the content marketing strategy to be entirely crowd sourced or by having a gamified means of content solicitation that can directly involve both internal and external stake holders.
- By Aligning with customer life cycle model : As increasingly brand awareness aspect(s )converge with the customer experience itself, CMOs will adopt the customer life-cycle model to retain and grow their existing numbers of customers through efforts to create sustained value.
- By being the eternal passionate individuals to embrace customer centricity- With a persistent drive to put customer experience at the fore front through a strong adoption of technology, passion and energy is the key to influence the outcomes of business.