The marketer extraordinaire wears many hats, manages a variety of channels, and is challenged to understand the ongoing technological developments changing the way buyers and customers interact with brands.
You’ve heard the word on the street: ‘The buyer is in control.’ Your marketing has to be ‘customer centric.’ And I can’t say it enough: take a cue from Carly Simon and don’t be vain!
With the buyer in the driver seat, marketers have to find a way to comfortably ride shotgun rather than being left in the backseat, or worse, not have the opportunity to ride along at all. Customer retention is a critical concern for every marketing organization. Marketers must continually demonstrate value and commitment to their customers.
This is a daunting challenge, as a new study conducted by Korn/Ferry International points to customer engagement as the top concern keeping CMOs up at night.
The Korn/Ferry Marketing Pulse Survey was based on an online survey of 124 senior marketers conducted in June. It found the top marketing concerns of CMOs include customer engagement (52%), taking advantage of digital (29%), acquiring digital-savvy talent (11%) and dealing with budgetary issues (9%).
It’s interesting to note that budgetary issues were the least cited concern —illuminating how much more significant a challenge engagement is in comparison to finances. Moreover, within the category of customer engagement, the top concerns cited by CMOs include creating sustainable and engaging customer relationships (30%) and providing an effective customer experience (22%).
While many organizations struggle to define ownership and may have more than one person ‘steering the ship’ to manage different tasks, 35% of respondents cited their marketing departments as the owner of customer experience and engagement. A similar portion (32%) said it is a joint marketing and sales effort; 28% said it is a multifunctional task force; 3% said the job falls to no one; and 2% said sales alone.
“It is not surprising that customer engagement remains a top priority for marketers,” said Caren Fleit, Senior Client Partner and head of Korn/Ferry International’s Global Marketing Center of Expertise, in a press release. “The marketing team may not be directly selling a service or product, as the sales team does, but they are wholly tasked with engaging with the customer across multiple touch points to build brand value, and as a result business value. The best marketers will know how to leverage all the moving parts to create a unique, long-lasting relationship with customers that can ultimately be monetized on behalf of the business.”
Here are 5 marketing musts to demonstrate value to your customers, and continually showcase your commitment to their success: