CMO Insights: Summary of Findings  19 May09
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CMO Insights: Summary of Findings 19 May09

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This is a summary presentation of the findings from an Executive Insight report produced by Truman Company in association with The CMO Club. The presentation highlights top-of-mind issues for CMOs......

This is a summary presentation of the findings from an Executive Insight report produced by Truman Company in association with The CMO Club. The presentation highlights top-of-mind issues for CMOs and where they are focusing their energy and attention in 2009.

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  • 3. In the Spring of 2009, Truman Company held conversations with CMO Club members to gain insight into their key challenges and priorities. This presentation, given at the May 2009 CMO Club Summit, previews the key findings. TRUMAN COMPANY
  • 4. CMO CLUB LEADERS Mitch Bishop Phil Clement Jean Foster Mike Hogan Chuck Martz Heidi Melin Ram Menon Margaret Molloy John Moser
  • 5. CMO PULSE
  • 6. TOP 5 THINGS Drive the Business With the Voice of the Customer TRUMAN COMPANY
  • 7. CUSTOMER-CENTRICITY “Marketing has responsibility for the voice of the customer.” “It’s marketing’s job to make sure that the consumers are at the center of the process.” TRUMAN COMPANY
  • 8. TOP 5 THINGS Link Marketing Investments to ROI and Business Value TRUMAN COMPANY
  • 9. ROI AND BUSINESS VALUE “Every time I sit down in front of the CEO or the CFO, I should act like I’m pitching an idea to venture capitalists.” TRUMAN COMPANY
  • 10. TOP 5 THINGS Be an Agent of Change TRUMAN COMPANY
  • 11. AGENT OF CHANGE FROM TO Selling Products Selling Relationships Technology-Centric Customer-Centric Mid-Level Buyer C-Suite Buyer Marketing as Expense Marketing as Investment TRUMAN COMPANY
  • 12. TOP 5 THINGS Engage Internal Stakeholders as Customers and Investors TRUMAN COMPANY
  • 13. INTERNAL STAKEHOLDERS “Spend 50% of your time educating your internal stakeholders on the value of marketing, and speak in their language.” TRUMAN COMPANY
  • 14. TOP 5 THINGS Drive Short-Term Revenue with a Long-Term View TRUMAN COMPANY
  • 15. SHORT AND LONG TERM “The number one challenge as a marketing leader is striking the right balance between the longer-term strategic focus and shorter-term initiatives.” TRUMAN COMPANY
  • 16. WHERE TO FOCUS EXTERNAL Create Know your customer customers Visit customers stories & insight Reward Drive short-term customer STRATEGIC revenue loyalty TACTICAL Drive marketing as Sweat the details business growth opportunity Motivate team through business Understand ROI value Sell internally INTERNAL TRUMAN COMPANY
  • 17. WINNING IN THIS ECONOMY “The best ideas” “Agility and response time” “Process to bring new products to market” “Doing more with less” “More demand-generation vs. awareness” “Be closer to the field sales organization” “Target our customer better” TRUMAN COMPANY
  • 18. MEASUREMENT “Data is the rock that I stand on with regard to sales.” “If you can’t measure it, don’t do it.” TRUMAN COMPANY
  • 19. LINE OF SIGHT “Marketers need to build credibility by providing a clear line of sight for every marketing dollar spent through to the results.” TRUMAN COMPANY
  • 20. SEAT AT THE TABLE ”The ability to demonstrate deep understanding of the customer gives the CMO a seat at the table.” TRUMAN COMPANY
  • 21. MARKETING = SELLING “I don’t talk about marketing much. I talk about selling.” TRUMAN COMPANY
  • 22. DIALOGUE ”Customers do not want to be marketed to; they want to be involved in an authentic dialogue.” TRUMAN COMPANY
  • 23. Thanks to Pete Krainik and all of our participating CMOs! INSIGHTS FROM CMOS May 2009 Available on The CMO Club Member Site Mark Bonchek