http://www.mpdailyfix.com/cmo-of-the-future/?utm_source=rss&utm_medium=rss&utm_campaign=cmo-of-the-future Opinions. Commentary. News. Sat, 11 Feb 2012 13:14:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38783 Suzanne Lowe Fri, 12 Dec 2008 21:37:57 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38783 Paul, the quote ". . . absolutely be accountable for the one and only metric that counts to a business and that's growth [in sales]" is, especially in the professional services arena, a potentially huge sinkhole. Part of the reason for such high turnover among marketing professionals in this sector is that accountability for marketing and selling success hasn't been effectively shared throughout the professional services firm. Too many marketers and business developers are expected to be accountable, while too many others aren't. The CMO of the future will of course have to have deep expertise with all the forward-looking channels you've mentioned in your blog post (as well as the ability to track ROI!). But for professional services senior marketers, the "secret sauce" will have a lot to do with ensuring that accountability is truly shared -- by everyone -- for the firm's successful marketing and business development gains. This means a whole new shared accountability framework, where there are explicit expectations for every single person's contribution to marketing and business development success. Paul, the quote “. . . absolutely be accountable for the one and only metric that counts to a business and that’s growth [in sales]” is, especially in the professional services arena, a potentially huge sinkhole. Part of the reason for such high turnover among marketing professionals in this sector is that accountability for marketing and selling success hasn’t been effectively shared throughout the professional services firm. Too many marketers and business developers are expected to be accountable, while too many others aren’t.
The CMO of the future will of course have to have deep expertise with all the forward-looking channels you’ve mentioned in your blog post (as well as the ability to track ROI!). But for professional services senior marketers, the “secret sauce” will have a lot to do with ensuring that accountability is truly shared — by everyone — for the firm’s successful marketing and business development gains. This means a whole new shared accountability framework, where there are explicit expectations for every single person’s contribution to marketing and business development success.

]]> http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38782 Paul Dunay Thu, 11 Dec 2008 16:47:27 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38782 @ Peter Great point and well said But the vision wasnt just that in isolation it was also about adding the relevancy factor via creating and tracking demand with techniques like Lead Nurturing pd @ Peter
Great point and well said
But the vision wasnt just that in isolation it was also about adding the relevancy factor via creating and tracking demand with techniques like Lead Nurturing
pd

]]> http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38781 Lewis Green Wed, 10 Dec 2008 21:15:24 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38781 Peter & Brad, I agree with your premises but I don't think Paul dismisses the leadership and management components. He writes: "break free of this relevancy crisis is to absolutely be accountable for the one and only metric that counts to a business and that's growth [in sales]." (see Rethinking Metrics Again) This can only be accomplished with a strong lead management or lead nurturing process to graduate leads to sales and track ROI." As a C-level executive, that is the primary responsibility, whether CEO or CMO. Profits and revenues are their fiduciary responsibility. Peter & Brad,
I agree with your premises but I don’t think Paul dismisses the leadership and management components. He writes: “break free of this relevancy crisis is to absolutely be accountable for the one and only metric that counts to a business and that’s growth [in sales].” (see Rethinking Metrics Again) This can only be accomplished with a strong lead management or lead nurturing process to graduate leads to sales and track ROI.” As a C-level executive, that is the primary responsibility, whether CEO or CMO. Profits and revenues are their fiduciary responsibility.

]]> http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38780 Brad Mays Wed, 10 Dec 2008 18:01:13 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38780 "While print advertising is still plays a role, high level executives are using search, forums, blogs and even Twitter – So your information has to be out there in all formats which means you must be more integrated." Integration is key. The problem I see most often is that the right conversations are happening among the wrong people. Too often those that control the traditional budgets aren't those that best understand how to apply those dollars in the social world. Having CMOs that can recognize this and pull from the right resources will better align brands to take advantage of the social Web in the future. The value of the social Web is its ability to get a brand involved in the right discussions online. The power of those conversations isn't found in the aggregate, which is typically where traditional ROI measures are found. But, rather, the value of the social Web is in the direct dialogue a brand can have with the individual. These aren't mass mediums with traditional ROI. We need to make sure the right sensibilities are articulating this shift and are driving the strategies in the social environment. “While print advertising is still plays a role, high level executives are using search, forums, blogs and even Twitter – So your information has to be out there in all formats which means you must be more integrated.”
Integration is key. The problem I see most often is that the right conversations are happening among the wrong people. Too often those that control the traditional budgets aren’t those that best understand how to apply those dollars in the social world. Having CMOs that can recognize this and pull from the right resources will better align brands to take advantage of the social Web in the future.
The value of the social Web is its ability to get a brand involved in the right discussions online. The power of those conversations isn’t found in the aggregate, which is typically where traditional ROI measures are found. But, rather, the value of the social Web is in the direct dialogue a brand can have with the individual. These aren’t mass mediums with traditional ROI. We need to make sure the right sensibilities are articulating this shift and are driving the strategies in the social environment.

]]> http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38779 Kevin Horne Wed, 10 Dec 2008 15:28:29 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38779 I agree with Peter. This is a sad state of affairs - the "new CMO" is christened every Dec/Jan, and then the next year nothing changes. The latest CMO Council survey is illustrative: "the comprehensive international audit of some 650 senior marketers earlier this year revealed that making communications more personal and relevant, as well as more targeted and timely, was among the top strategies" I had to check the calendar to make sure it wasn't 1998. They should all quit and let some new blood in. I agree with Peter. This is a sad state of affairs – the “new CMO” is christened every Dec/Jan, and then the next year nothing changes.
The latest CMO Council survey is illustrative:
“the comprehensive international audit of some 650 senior marketers earlier this year revealed that making communications more personal and relevant, as well as more targeted and timely, was among the top strategies”
I had to check the calendar to make sure it wasn’t 1998.
They should all quit and let some new blood in.

]]> http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38778 Peter Kim Wed, 10 Dec 2008 15:11:09 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38778 "marketing must be able to create and package great ideas for consumption of the right audience" Paul, if this is the CMO of the future, then marketing is doomed. Marketing needs to reclaim a role of business management, otherwise it will retain its role as the "make it pretty" department. Communications managers need a better understanding of digital media. CMOs need a better understanding of how business works. Your definition of marketing helps explain why chief marketers often aren't given a seat at the executive level. “marketing must be able to create and package great ideas for consumption of the right audience”
Paul, if this is the CMO of the future, then marketing is doomed. Marketing needs to reclaim a role of business management, otherwise it will retain its role as the “make it pretty” department.
Communications managers need a better understanding of digital media. CMOs need a better understanding of how business works.
Your definition of marketing helps explain why chief marketers often aren’t given a seat at the executive level.

]]> http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38777 Paul B Wed, 10 Dec 2008 14:44:01 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38777 Jon Iwata has it right regarding the need for an integrated approach. Sadly, most marketing investments (from my 15 years exp) are mildly related or one-off, thereby reducing their effectiveness. Program management is a desperately needed skill. Jon Iwata has it right regarding the need for an integrated approach. Sadly, most marketing investments (from my 15 years exp) are mildly related or one-off, thereby reducing their effectiveness. Program management is a desperately needed skill.

]]> http://www.mpdailyfix.com/cmo-of-the-future/comment-page-1/#comment-38776 Lewis Green Wed, 10 Dec 2008 14:29:30 +0000 http://www.mpdailyfix.com/cmo-of-the-future/#comment-38776 There are exciting times for both corporate marketers and marketing consultancies. I love adding new tools to our tool box, especially when they allow us to talk with and hear from customers. However, we must be both cautious and smart. We must understand the difference between ROI and Value. And we must take this opportunity to increase Inbound Marketing and communications while decreasing Outbound Marketing and communications. To do these things correctly, we need to segment to the smallest possible communities and teach ourselves how to listen at least as much as we talk. Great post, Paul. Thank you! There are exciting times for both corporate marketers and marketing consultancies. I love adding new tools to our tool box, especially when they allow us to talk with and hear from customers.
However, we must be both cautious and smart. We must understand the difference between ROI and Value. And we must take this opportunity to increase Inbound Marketing and communications while decreasing Outbound Marketing and communications.
To do these things correctly, we need to segment to the smallest possible communities and teach ourselves how to listen at least as much as we talk.
Great post, Paul. Thank you!

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