The role of a CMO requires more experience to ensure all the steps you are planning (the tactics) will support your company's goals and objectives aligned to your overall strategy.
Keep in mind CMO's with a proven track record are in demand and worth their weight on gold!
It's when you realise that to reach the next level of success, your marketing, communications and brand awareness needs more attention than you are currently providing.
For some, that pivotal moment comes when the referral work that has driven their success, begins to slow down. For others, it's the realisation that their product or service has the potential to help many more people. This is the moment when scaling becomes the new priority.
Take a look at any emerging or existing company that is leading their industry.
What you will find is a robust digital marketing strategy in place.
It’s because traditional marketing doesn’t provide the efficiency or scalable results that digital is able to deliver with ease.
Now, I know what you're thinking. AMEX is a global brand with thousands of employees and resources at hand, it's not really relevant to most businesses. Well, let's take a look at Mint.
A personal finance startup, Mint entered an already crowded and competitive market.
The founders committed to publishing hundreds of helpful blog posts and infographics to grow their awareness. They chose to use digital because as a startup, it was the only form of marketing they could afford. The strategy attracted their ideal customer as well as the attention of Intuit who purchased the company for $170 million when they were less than three years old!
Jason Putorti, founder and CEO, said "We focused on building out a unique personal finance blog, very content-rich, that spoke to a young professional crowd that we felt was being neglected. Eventually, the blog became #1 in personal finance."
According to Patzer, the marketing plan was "Whatever we can do, basically, for cheap or for free."
The cost efficiencies of digital marketing are crushing the monopoly once reserved for only those who could afford multi-million dollar ad campaigns. Digital marketing allows your business to compete with the biggest names in your industry without the cost or risk of traditional above the line marketing.
Put simply, it is a complete game-changer for companies with ambitious growth goals.
A digital marketing team will create a plan to drive leads and boost sales systematically.
The outcome provides you with predictable revenue growth so your business can scale as needed. That alone is a worthy investment. But digital marketing goes beyond new customer acquisition.
Just as important is the ability to increase your retention rate.
A study by Fred Reichheld from Bain and Company has shown that a 5% improvement in client retention leads to at least 25% increase in revenue.
Clearly, the world of sales and marketing has undergone a mammoth change.
I would argue that marketing is now more important than sales.
The popularity of chatbots and messaging platforms confirms research that shows 57% of the purchase decision is complete before a customer even calls a supplier.
The once grey world of marketing has now earnt its seat at the boardroom table. With analytics and sales attribution available to everyone, marketing ROI is a realistic expectation and marketing teams need to be accountable for their results.
With so many marketing channels and digital tactics available, choosing the best path and priorities can be time consuming and overwhelming. If a marketing role has never officially existed within your organisation, it can be a daunting position to fill. Your content and marketing materials now play a significant role in the sales journey. It allows you to shape and influence the prospect's decision at the critical research phase in their buying journey.
Good digital marketers are tightly held by a business owner or the board when they realise the value they are able to contribute to company revenue.
The common trait we have identified in outstanding marketers is a keen interest in research, data and testing.
A great marketer will define their target, develop a plan and work to improve their KPIs consistently. They understand that metrics and data, not design aesthetics, represent success. Without the data, marketers are gambling with your money and growth opportunity every single day.
Steer clear from candidates who want to focus discussions around the look and feel of the brand. This will suggest that they see marketing through a traditional lens. They will prioritise aesthetics over ROI. Don't get me wrong, look and feel are an essential component of every brand. However, its importance is secondary compared to converting opportunity and sales. This distinction is vital.
The role of marketing has evolved in a relatively short period.
This change has led to a sizable knowledge gap in many experienced traditional marketers. Most are scrambling to understand the landscape and the possibilities now available.
The fact is, recruiting a single person to implement a digital content strategy to drive revenue is impossible.
The sheer amount of knowledge and technical skill needed to produce quality content requires a team of strategists, technicians and creative experts.
Having worked with hundreds of companies over the last three decades, we understand the daily challenges that CMOs and marketing managers face. Their task has become much more complicated in the digital age. It was traditionally a relatively straight forward role. Today, it demands many varied talents, including data analysis, video editing and graphic design, to name a few.
To produce effective and measurable campaigns, your head of marketing will need to orchestra between all these functions.
Seeing the need to help companies with their transformation, Emedia Creative has developed a process where we work alongside your management or marketing team as your outsourced CMO. Our team will advise, create and develop a complete step by step marketing playbook for your business.
It is a cost-effective way to digitally transform in the shortest time possible.
We accelerate the implementation process, and when your team is ready, we hand over the keys and take the backseat as you head down the digital highway optimised for rapid growth.
As more companies become aware of the power and advantage that digital marketing provides, the race to not be left behind is well and truly on.
Our proven model is the quickest way to get up to speed for companies that are ready to grow right now.
Reach out to learn more about how we have helped companies identify their opportunities, implement a plan and train their team for marketing success.