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CMO Report: Bridging the Digital Divide Webinar

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Based on a survey of 228 global marketing leaders, this CMO-centric study uncovers five areas where CMOs are expected to accomplish more than ever. Feelings of both pressure and opportunity accompany …

Based on a survey of 228 global marketing leaders, this CMO-centric study uncovers five areas where CMOs are expected to accomplish more than ever. Feelings of both pressure and opportunity accompany the CMO role in the digital era. In this webinar Kyle Lacy, Director of Global Content and Research, ExactTarget Marketing Cloud and Frances Yu, Director of Strategy Practice, Deloitte, dive deeper into the report and explain how CMO’s are balancing serving vs. selling, moving from data aggregation to action and insight, navigating real-time automation, and beyond. This webinar explains the research survey results to pave the way for CMOs and marketing leaders to meet—and surpass—rising expectations.

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  • 1. Main Title Slide Subtitle, Speaker Name etc.
  • 2. Speakers Kyle Lacy Director, Global Content Marketing & Research Salesforce ExactTarget Marketing Cloud Frances Yu Director, Deloitte Consulting LLP Customer and CMO Services
  • 3. CMO Profile and Methodology
  • 4. Main Title Slide Subtitle, Speaker Name etc.
  • 5. Main Title Slide Subtitle, Speaker Name etc.
  • 6. The CMO and 5 Expanding Expectations • Expectation 1: Take On Topline Growth • Expectation 2: Own the Customer Experience • Expectation 3: Dig Into Data-Based Insights • Expectation 4: Operate in Real Time • Expectation 5: Master the Metrics that Matter
  • 7. Take On Topline Growth Expectation 1
  • 8. 53% 52% 43% 38% 38% 27% 1% 0% 10% 20% 30% 40% 50% 60% Greater Rev. Growth Responsibility Greater Need for Data/Analytics Personnel Greater Ownership of Customer Facing Teams/Channels Greater Customer Service Role Greater Technology Budget Greater Ownership of Internal Functions Alignment Other Marketing capabilities have been expanded to enable or directly influence revenue generation, moving buyers through the entire engagement cycle Respondents were permitted to select multiple answers. Thus, percentages don’t equal 100%.
  • 9. Take on topline growth… what we have seen CMOs in high tech and telecom sectors are leading in owning revenue marketing. TRENDS • Continuing investments in big data, analytics, and social intelligence to understand which behaviors lead to purchase and how to influence them • Developing of new response functions plotting sales lift in addition to lift in other engagement or brand-building metrics • CMOs owning sales targets or sales proxies as personal metrics, in addition to traditional brand and customer metrics • Establish a demand-gen function to own outbound channels and actions • Expand CMO scope to drive product and pricing, and think customer experience strategically
  • 10. Take on topline growth… what we have seen CMOs in high tech and telecom sectors are leading in owning revenue marketing. CASE EXAMPLE • One of CMO’s goals is MQL and SQL. CMO reorganized the entire organization and marketing process flows to enable seamless flow of ideas  design  campaign execution  measurement; established a demand gen function, with designated VP whose sole goal is demand gen
  • 11. How has the rise of digital and democratization of analytics changed Marketing’s responsibilities and focus?
  • 12. Own the Customer Insights and Experience Expectation 2
  • 13. Moments matter economy has created a race to customer insights. Many versions of the customer experience exist. 32% 23% 18% 13% 8% 4% 3% 0% 5% 10% 15% 20% 25% 30% 35% Greater Need for Data/Analytics Personnel Greater Customer Service Role Greater Ownership of Internal Function Alignment Greater Ownership of Customer Facing Teams/Channels Greater Technology Budget Greater Rev. Growth Responsibility Other Respondents were permitted to select multiple answers. Thus, percentages don’t equal 100%.
  • 14. Take on customer experiences… CMOs in high tech and telecom sectors are leading in owning revenue marketing. TRENDS • New systems that (a) track data at the individual, not segment, level across all touchpoints and (b) present marketers with an integrated view across • Interfaces that allow firms to visualize and quickly interpret volumes of information quickly to take action • Inexpensive (economically and computationally) predictive models that forecast purchase likelihood from smalls strings of data • Linkages to other IT systems, allowing customer data to influence operational decisions dynamically
  • 15. How well are you prepared for being the steward of moments that matter across all touchpoints from product to marketing?
  • 16. Dig Into Data-Based Insights Expectation 3
  • 17. 61% 60% 59% 50% 30% 4% 0% 10% 20% 30% 40% 50% 60% 70% Data Acquisition Testing & Optimization Flexible / Agile Marketing Processes Campaign Attribution Organizational Optimization Other It’s all about customers… what we have heard Top 3 Internal Marketing Priorities for 2014 (N = 208) Truly break down the walls between internal and external structured and unstructured, to deliver insights in an agile manner, is a focus across many leading brands
  • 18. 52% 51% 51% 42% 34% 29% 3% 0% 10% 20% 30% 40% 50% 60% Demand Gen/Customer Acquisition Personalized Experiences Customer Engagement Loyalty Marketing Channel Expansion Social Advocacy Others It’s all about customers… what we have heard Top 3 External Marketing Priorities for 2014 (N = 208) We see great consistency between top internal and external marketing priorities, centered around customers
  • 19. It’s all about customers… what we have seen The rise of engagement-driven marketing and content marketing (e.g. rise of “brand as an experience”, newsroom / journalism, and “chief content officer”) TRENDS • Conversational engagement: use of social media and mobile to promote two-way conversation; Emergence of sponsored social as companies use influencers to spark conversations and gain awareness of the brand in “native environments” • Engagement content marketing where the brand experience is taken to consumers to participate with the brand through personalized and interactive channels of retail, digital (e.g., blogs, live chats, product ratings) and live events • Hyper-targeting to drive engagement, leading to increase conversion and advocacy. • Testing-driven engagement optimization continuous use of testing to increase effectiveness
  • 20. CASE EXAMPLE • Launched an interactive online “experiences” to promote loyalty and engagement, and cross marketing/commerce boundary, which resulted in significant increase in return visits, CLV, and lead capture, and access to deep personalization data • Highly interactive mobile app that leverages web and social data to provide personalized in-store offers to influence in-store buy decisions and customer loyalty, led to playful mobile experience that integrates with physical and web, boosted the bottom line and increased engagement score, higher conversation rates It’s all about customers… what we have seen The rise of engagement-driven marketing and content marketing (e.g. rise of “brand as an experience”, newsroom / journalism, and “chief content officer”)
  • 21. What are the key challenges in customer / partner / ecosystem acquisition and engagement that you’re addressing today?
  • 22. Operate in Real Time Expectation 4
  • 23. 16% 20% 23% 25% 26% 32% 33% 33% 48% 63% 26% 36% 35% 37% 34% 36% 32% 31% 29% 22% 50% 43% 34% 34% 32% 30% 30% 34% 22% 14% Web Personalization Marketing Automation Mobile Notifications (incl. Push) Social Media Advertising Text Messaging (SMS) Social Media Engagement & Listening Display/Banner Ads Data Management & Segmentation SEO&SEM Email Marketing Use frequently today Use infrequently today Plan to use Don't plan to use Response Percentage Operate in real time… what we have heard and seen Areas of Organizational Focus (N = 209)
  • 24. 41% of consumers buy more from brands who send personalized emails based on past buying behaviors.
  • 25. 25% lift in sales if the transactional message includes personalized product recommendations.
  • 26. Master the Metrics that Matter Expectation 5
  • 27. 53% 42% 39% 36% 36% 33% 25% 1% 0% 10% 20% 30% 40% 50% 60% Returnon Investment EngagementRate (Opens/Clicks) Conversion Rate Marketing-Qualified Leads LifetimeCustomer Value Audience Growth Social Influence Others Master the metrics that matter… what we have heard 3 Most Important Metrics You Use to Measure Success (N = 208)
  • 28. 53% 42% 39% 36% 36% 33% 25% 1% 0% 10% 20% 30% 40% 50% 60% Returnon Investment EngagementRate (Opens/Clicks) Conversion Rate Marketing-Qualified Leads LifetimeCustomer Value Audience Growth Social Influence Others Master the metrics that matter… what we have heard 3 Most Important Metrics You Use to Measure Success (N = 208) While ROI is a desired metrics for marketing accountability, many CMOs struggle with ROI definition when they start to move into adjacent or new markets
  • 29. What mechanism do you have in place to measure ROI? How do you allocate marketing investments across Corporate marketing and BU / product marketing?
  • 30. Get the full report: exacttarget.com/digital-divide
  • 31. Upcoming Webinars: http://www.exacttarget.com/resource-center/webinarsRegister: May 1st Using Embedded Video in Email to Create Dynamic Content May 8th Using Consumer & Competitive Data to Create Engaging Email & an Unfair Advantage May 22nd Best Practices of Guided Selling May 14th Introducing the Next Version of ExactTarget Salesforce Integration
  • 32. Get Knowledgeable with Research Text “RESEARCH” to 38767 Tips | Strategies | Trends *Msg&Data Rates Apply. Get 1msg/week. HELP for help. STOP to Stop. T&Cs avail at http://pages.exacttarget.com/etsmshelp/
  • 33. Ignite your Digital Marketing Text “SPARK” to 38767 *Msg&Data Rates Apply. Get 1msg/week. HELP for help. STOP to Stop. T&Cs avail at http://pages.exacttarget.com/etsmshelp/