Summary: In his article published on Forbes, Jeff Fleischman, CMO at Altimetrik, discusses the evolving role of Chief Marketing Officers (CMOs) in the face of technological advancements, data proliferation, and changing market dynamics. Fleischman highlights the challenges CMOs face in defining their role and emphasizes the need for CMOs to lead their teams through a proactive transformation. He suggests several strategies for CMOs to embrace:
- Become a technology leader: CMOs should lead the implementation of marketing technology, capitalizing on the data and technology ecosystem independent of the main IT organization. This requires embracing new tools and talent while aligning tech adoption with business goals.
- Become data-driven: Customer centricity begins with understanding customer desires and needs. CMOs should leverage the growing availability of data sources, including internal, external, and third-party data, to gain insights into customer behavior, preferences, and trends.
- Focus on the customer experience: Marketing should seamlessly integrate into the customer journey, working alongside sales and customer service. Targeted marketing and behavioral marketing can engage potential customers effectively while avoiding oversaturation.
- Connect marketing to corporate strategy: All marketing decisions and activities should align with the company’s overarching goals. CMOs should establish clear ROI measurements and key performance indicators (KPIs) to gauge the success of marketing initiatives.
Fleischman underscores that CMOs must lead their teams through digital transformation, utilizing data and technology to enhance marketing decisions and contribute greater value to the business.
