5 Things That Should Be Keeping CMO’s Up at Night
By Mike Stiles on Apr 15, 2014
Hey, don’t go assuming that being kept up all night is always a bad thing. When you think about what’s swirling around in a CMO’s head, it might be worry that keeps them tossing and turning, or it could be excitement about the cool changes we’re seeing.
To be on safe side though, let’s just assume it has to do with confusion.
And that’s understandable, because marketing has been turned on its head in a very short period of time. Here are 5 things the CMO-on-their-toes should be asking themselves. If they don’t know enough to even be asking the questions, well, there are bigger problems.
1. Seriously, Am I Going to Be in Charge of EVERYTHING Now?
The demands on today’s CMO have gone far beyond branding, PR and advertising. Since the disruption to business had its epicenter in Marketing, the CEO is looking to the CMO to “deal” with every ripple effect resulting from it, no matter how far out into the organization it reaches.
Suddenly, it’s not about getting leads for sales, it’s about conversions. Suddenly, the CMO must understand the tech that drives marketing execution or harvests the metrics by which they’ll be judged. Suddenly, with social a big part of recruiting, the CMO has a big hand in HR. Suddenly, with customer service via social, the CMO is invested in that customer interaction. Suddenly, the CMO is culling feedback that informs product development.
Today’s CMO might notice the c-suite doesn’t require as many offices as it used to.
2. What Do My Customers and Prospects Want From Us?
Nothing good will come from a CMO that lies awake at night thinking about the next campaign or corporate message. If you’re going to lose sleep, lose it thinking about how to find out exactly what your customers do and don’t want from you. It’s called customer-centricity. Lots of companies talk about it, but frighteningly few actually do it. If you care, and if you listen, you’ll be more than halfway to sleeping through the night.
3. How Am I Going to Cope with Being a Media Company?
No matter the platform, marketing is increasingly content marketing. With an all-out war on to capture attention from a mobile, over busy, short-attention-span public, only content that entertains, informs, or provides tangible value will score.
You’re probably not an entertainment or journalism brand. That doesn’t matter anymore. You have to be. Imagery and video are huge in terms of engagement. Your blog has to rock. 24% of digital marketers even plan to add podcasting this year to capitalize on the intimacy of in-car listening and car connectivity. The days of not resourcing content, not hiring people who know how to consistently make it, or trying to commoditize it, are OVER.
4. What Tech Am I Supposed to Invest In?
Many brands are trying to operate with disconnected, standalone solutions. That’s an untenable position as Marketing continues its expansion and social extends to nearly every function of the enterprise. Not having integrated components means you’ll be leaving big data advantages on the table. The right hand won’t know what the left hand is doing, and the feet will be completely clueless.
It’s unlikely most brands are ready to jump in to the largest social and marketing ecosystem for the enterprise available. Therefore, a technology partner that gets you the components you need today, but that also sets you up for the addition and quick integration of components like CRM, will help you rest easier.
5. What If I Pursue a Strategy and Then Everything Changes?
Good news: you don’t have to wonder about that, because you can already be 100% assured everything is going to change…probably often and quickly. Looking for a point at which you can say, “Okay, we’ve totally got this down,” or at which you can go on autopilot, will only lead to anxiety.
The social networks themselves will always change, the ad products they offer will come and go, mobile technology will change, abilities to measure will change, trends & tastes will change, and consumer behavior will change – as will their expectations. The fact that change is inevitable makes waiting for things to “settle down” before you act a dangerous endeavor.
Asking yourself the questions is the first step toward resolving these pressing issues in your mind, which is your key to sleeping like a baby.