The Chief Marketing Officer (CMO) has become one of the more commonly talked about corporate designations in many years. Given the tremendous amount showing the capacity of marketing potential present by the digital technology and proliferation of distribution instruments, companies have immense to realize the potential of marketing in guiding corporate-level strategies and significantly contributing to the financial bottom line. Here are some of the tips that we can consider for the new trends.
Leveraging the new media
Even as the Internet and other new media instruments continue to challenge many of the foundational ways of doing business, they also offer some tremendous advantages hitherto not within companies’ reach. The software allows companies to pathway their customers’ trace, stickiness – the amount of time a customer stays on a site, the click-through rate of online advertisements, effective enhance of layout design, and feelings to measure changes in attitudes and manners.
Connect the corporate boardroom with the customer:
The CMOs must have an excellent courage business and financial adviser and link marketing strategy and results directly to overall business blueprint and company financial target. The administration should persistently evaluate their calculated decision in the context of customer concerns – what do the customers’ value, and how can the customers help the company in co-creating value.
Align marketing with the corporate business strategy
Newer media, powerful instruments, collaborators, and empowered customers have made the competition highly intense and promote a very involved and calculated discipline. The CMO plays a significant role in developing and implementing its long-term strategic plan, including new product opportunities, acquisitions/joint ventures, and other growth initiatives to meet the company’s profits and proceeds targets.
Create a customer-centric organization
To assemble a customer-centric organization requires a highly collective effort of all functions within a company and every employee becoming a customer winner. These issues deal with organizational culture, organizational structure, and corporate policies by nature.
Measuring marketing outcomes
Marketing foundational differs from other functions with a company like investment or operations in a couple of aspects. As marketing deals with people, their behaviors, and attitudes, they are not as predictable as machines.