Transcript of "DCA Seeking To Sell To CMOs? Answer The Question, Why Should I care?"
SEEKING TO SELL TO CMOs?ANSWER THE QUESTION, ‘WHY SHOULD I CARE?’ Dean Crutchfield Associates
CMOs are dealing with a complex web of mediachannels from direct to social media, platitudesof business models, ecommerce processes – anda public that can slam out opinions about theirbrand at any time. Dean Crutchfield Associates
CMOs are charged with building revenue and relevance. The new normal in marketing brings with it distracting challenges. Answering “why should I care?” for the CMO immediately changes the strategy of the approach and the interaction. Dean Crutchfield Associates
Consumers taking control and pushing back Touch point explosion and lack of control Differentiation ever harder to attain New, faster global competition Organizing globally for social media, locally Demonstrating brands value and marketing Clarity on roles and responsibilities Internal focus of business issues Dean Crutchfield Associates
CMOs buy ideas to make a gain or avoid a loss. To stand out a business needs to deliver its best case and winning face forward that solves a huge problem for the CMO by answering, “Why should I care?”Dean Crutchfield Associates
The key is to make the CMO relevant by piloting the proposed solution with their funded initiatives and demonstrably reveal more value to their business faster. By connecting the CMO to revenue, convincingly showing her what problem you solve and how the investment will move the needle north, an invitation to answer their tough questions will be forthcoming:Dean Crutchfield Associates
How will you help me demonstrate a strong ROI on integrated marketing? Does our ‘story’ and content strategy enhance the customer experience? When can we optimize the purchase pathway and our customer data? Where can we get the biggest bang with our social and earned media? Are you able to help me balance creative with analytics? Can I trust you with my business and marketing strategies?Dean Crutchfield Associates
IBM’s recent repositioning targeting the CMO demonstrates how big investments in technology are rapidly becoming the realm of the CMO. The old ‘sales funnel’ model where we (consumers) hold a large number of brand options and narrow our choices to an eventual decision aided by advertising has been deracinated. The customer’s purchase pathway is totally different and repetition of old marketing strategies has caused the ouster of many a CMO as has throwing up new brand campaigns bereft of any notion of what the empirical measurement is for effective.Dean Crutchfield Associates
What we do know is consumers already limit their brand options at the firstconsideration stage, seeking out input from peers, reviewers, vendors andcompetitors.Increasingly consumers are delaying purchase decisions until theyreactually in-store or about to hit purchase – that opens up when and whattouch points consumers are most open to influence and how to createpositive consumer experiences at those points. Dean Crutchfield Associates
What makes your offer different that can deliver ROI? CMOs admire it when there is adherence to their current strategyCMO and how the proposition moves it forward. Ideas might be the currency of marketing, but to spray them without tying them to organizational goals will lose the CMO no matter if its technology or marketing. Pitching tons of ideas that are disconnected to their strategy is akin to saying one has no ideas at all: strategy is more about what you’re not going to do and how that connects to the business goals of their organization.
To get inside the CMO’s head, think like an investor and investors have one thing on their minds: ROI. For CMOs, their investment is the time, energy and resources they place in the hands of their ‘partner’ firms and their ideas. To win over the CMO, the idea needs to generate and show a return, provide data and enable you to ask how you can help them? Rarely are CMOs actually offered! How can the solution make the CMO’s life easier? Demonstrate it contributes to her inventory of alternatives and already her job has been made easier.Dean Crutchfield Associates
Anecdotal success measurement, however, can quickly turn off a CMO. Marketing is not all about telling a great story – it’s about telling a story that moves the needle: if you don’t know how to measure it quantifiably, resist the temptation. CMOs pilot new ideas constantly, but they need a valid and relevant way to measure the success of those ideas. CMOs generally do not desire to replicate the competition they demand you to know their customer. It’s easy searching what other people are up to, but the secret sauce is knowing the right questions, the ones that lead to unearthing the pain points and needs of their organization and customers, and then tailoring targeted solutions.Dean Crutchfield Associates
More than ever CMOs are vested in making the quarter and are primarily interested in the business outcomes of using services. Consequently sales discussions must focus on business drivers – a true innovation needs a business model – preferably one that’s able to link to their business model, i.e., know how they make their money! Products, services, and solutions must be linked to business benefits using the metrics the CMO cares about: footfall, ARPU, retention, online conversion, customer acquisition cost, lead generation efficiency, etc.Dean Crutchfield Associates
To accomplish "Why should I care?" it’s critical to connect the offer directly to revenue. Specifically show the CMO how the product will further aid her to prove marketing’s value – demonstrably and empirically – to the CEO who demands shareholder value.Dean Crutchfield Associates
What DCA Can Accomplish Achieve growth for ambitious leaders driven to grow fast Create new business opportunities by orchestrating and activating accelerated outreach programs Build efficiencies by sourcing the best talent required to successfully launch your business Improve margins by rallying your people behind the brand and go-to-market strategy Boost win rates by enhancing individual skill sets and motivating teamsDean Crutchfield Associates
About Dean Crutchfield Associates Catalyzing top line growth for clients is what we thrive on: how to deliver your best case and winning face forward, sharpen the product offering and encourage your people to move the needle north. By deploying real world strategies and hands-on collaboration to inspire teams we create content backed by actions that will assure you of seizing more opportunity, selling more services and winning more business. For 20 years Dean Crutchfield has advised the worlds most iconic brands, built businesses, created new companies, opened international offices and spoken about brand power at prestigious universities and the Google Speaker Series. He has made appearances on all major TV news networks, commentary in the global press, editorials in major business publications and is a Contributor to Forbes. With a proven ability to inspire and push the boundaries beyond the notion of what was thought possible, DCA excel with clients who are looking to run fast, led by CEOs, CMOs, entrepreneurs and executive teams eager to capture dominant levelsDean Crutchfield Associates of success. Let’s grow.