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Tag: CMO

The New Role of the CMO: Chief Alignment Officer

Posted on by Tracy Lloyd

No role in an organization has evolved more rapidly than the CMO’s. It used to be that owning branding, communications, and campaigns defined the job. Now, CMOs need to be experts on customers, marketing tools and advanced analytics, and business strategy. Brand management remains an essential duty, but in service of driving business growth. Most importantly, because a CMO’s work connects directly to sales, product development, IT, finance, and other parts of the organization, CMOs find themselves needing to play a growing role in aligning their organization around new ways of thinking and working that will help them engage customers more effectively.

For those in TL;DR mode, the quick takeaway is: CMOs are being stretched, so they might sometimes need a hug (but please ask first).

Here’s a by-no-means exhaustive look at some of the shifts that we’ve seen impacting how a CMO shows up:

From To
Voice of the Brand Voice of the Customer
Intuition & Instincts Data & Technology
Brand Management Brand Innovation
Strategy + Execution Alignment
Awareness Recognition

 

Voice of the Customer

The amount of information we have about customers is only increasing. How does a temperature between 70 and 75 degrees impact consumer behavior on Mondays vs. Fridays? What is the correlation between a new Netflix series and GPU buying decisions? What invisible patterns in customers can data now make visible? More and more, it’s up to the CMO to develop the customer insights that shape how a business goes to market. And because so many groups touch the customers, from sales to product to finance to corporate strategy, the level of collaboration required to align on these insights requires a significant investment.

Data & Technology

The increase in customer data a business can capture also gives rise to new suites of tools and technologies that a CMO can use to mine for insights, optimize campaigns, and deliver experiences across channels. When almost every brand action can be quantified, decisions about how to go to market are becoming increasingly data-driven. As a result, the CMO is responsible for leading the digital transformation of the marketing organization, which requires deep partnership with IT (among others) to develop the tooling and data models that align with the organization’s technology systems. While a CMO needs to rely on her or his instincts and intuition when it comes to decision making, increasingly they need to justify their strategies with that data when it points in a certain direction. The more fluent a CMO becomes in technology, the easier it becomes to reconcile data-driven insights with gut instincts.

Brand Innovation

More than anyone in the organization, a CMO needs to connect the dots between a brand’s legacy and its future vision. As much as products need to innovate, brands must as well to remain relevant: messages need to resonate with how the world is changing, and their expression needs to drive differentiation. But in doing this, a brand must also feel familiar and take advantage of the equity it’s built with audiences. As brand management becomes increasingly data-driven, brand innovation is also becoming more dependent on analyzing trends, creating new audience definitions and segmentations, and delivering next-level experiences that are hyper personalized and hyper-relevant. And these insights provide fuel for both brand and product innovation. The CMO that can use data to drive innovation across the organization is one that will stick around.

Awareness & Recognition

For years, marketing’s job was to be seen: build awareness, own share of voice, stay top of mind. That’s no longer where the real evaluation happens. Customers, investors, analysts, and recruits increasingly form a point of view about a company before anyone from the company ever speaks to them—often by asking an AI system what the company is. That system doesn’t call sales. It assembles an answer from whatever is already on the record: the website, the product pages, executive interviews, customer language, analyst coverage, and years of scattered marketing history.

When that record is current, consistent, and complete, the AI’s answer sounds like the company. When it’s stale, contradictory, or thin, the AI defaults to the nearest familiar category—and the company gets misunderstood, for example, seen as smaller, older or something other than it has earned the right to be.

This is the shift CMOs are living through right now. It’s not enough to be found. A company has to be recognized—accurately, consistently, and for what it has actually become, not what it used to be. That’s a brand problem before it’s a technology problem, and it’s quickly becoming one of the most consequential things a CMO owns.

Building Alignment

It’s not enough for a CMO to develop a winning marketing strategy and execute flawlessly. As organizations become increasingly customer-centric, a CMO needs to bring every function in the C-Suite into the conversation about how to drive growth. From gaining the full embrace of Chief Revenue Officer for their marketing strategies, to the creativity of the CTO as you make your strategies more data driven, to HR working to bring new talent to the table, to the head of Product working in partnership around how to claim new audience segments, and the CTO finding budget to drive the strategy forward, marketing has become increasingly a team sport.

It’s no wonder that CMO turnover is high, and those in their positions feel they’re continuously in the hot seat. While the complexity of marketing is growing and budgets are coming under increasing scrutiny, there’s never been a more exciting time to be leading a marketing organization. All the data organizations have been amassing and the tools ready to parse it can reveal truly amazing insights about customers and how to connect with them. But only if a CMO can enlist the organization in lending a hand in making this all happen. And this comes down to storytelling and building alignment.

We’ve worked with many organizations to craft what we call a Growth Manifesto—a strategic narrative that shows how the thinking that goes into brand development can open up new possibilities across an organization—from how people think about innovation to the collaboration required to bring new ideas to life. We’ve seen that a Growth Manifesto serves as an incredibly effective tool for building that alignment that is essential to getting every part of an organization living a new brand promise. While CMOs will always own the brand, communications, and marketing lanes of a business, as their role evolves, we’re seeing how they also need to become experts at building alignment between the functions that marketing depends on.

We think about that alignment challenge as closing the distance between the company a business has actually become and the company the market—human or artificial—is prepared to recognize, believe, and price. Closing that gap has quietly become one of the biggest jobs on a CMO’s plate.

If you have thoughts about the new challenges CMOs face today, please add to the conversation below. And if you’re thinking about ways to address specific marketing challenges in your business, we are always happy to help you think through how to approach the challenge.

Emotive Brand is a brand strategy and design firm for product-proven B2B technology and AI companies. We help close the distance between the company you’ve built and the company the market is prepared to recognize, believe, and price—so you’re understood, valued, and priced for what you’ve built.

Challenger Brands: B2B Challengers

Posted on by Emotive Brand

Continuing the Challenge

This post is the second in our three-part series on challenger brands. You can read part one, “Challenger Brands: A Primer,” right here.

Previously, we spoke about adopting a challenger mindset. It’s one defined by ambition, agility, and a willingness to take risks. Most importantly, we noted how businesses are no longer competing against each other—they are competing against the category they are in and the expectations of what a customer experience feels like.

At a glance, these personality traits naturally lend themselves to the B2C world. Ask anyone to rattle off a few challenger brands and you’ll invariably get the same answers: Uber, Netflix, Spotify, Airbnb—and it makes sense. When you’re trying to rewire people’s preconceived notions, B2C is, by definition, the shortest path to the customer.

But it is by no means the only path. The worlds of B2B technology and AI companies and B2B2C are being transformed by challenger brands. Just look at ZipRecruiter, Zoom, Slack, or even Salesforce. If you can’t see it on the surface, it’s most likely occurring behind the scenes in their business strategy.

B2B Technology and AI Companies as Challengers

Founder of 500 Startups, Dave McClure, notes that

“The next bubble is not in tech where innovation and capital are never in short supply. Rather, the real bubble is in far-too-generous P/E multiples and valuations of global public companies, whose business models are being obliterated by startups and improved by orders of magnitude. As more Fortune 500 CEOs recognize and admit their vulnerability to disruption, expect them to hedge their own public valuations by buying the very same unicorns that keep us awake at night.”

Many legacy B2B companies end up following a similar lifecycle. They start off small and hungry, build a legacy off of their early innovations, ride the wave for as long as possible, and then go out and acquire innovation when they start to stagnate. The daily churn of operating a business makes it very difficult to ignite the same innovation that got you started. So, you import. To be clear, there’s absolutely nothing wrong with that. But it’s a strategy that ultimately puts your future in the hands of other creators.

Homegrown Innovation

Regardless of size, if B2B brands want to truly adopt a challenger mindset, they need to take active steps to continually foster their own innovation. Famously, Google has a 20% rule. Implemented by Google Founders Larry Page and Sergey Brin in 2004, it’s designed to give employees one full day per week to work on a Google-related passion project of their choosing or creation. It’s the same strategy that created Gmail, Google Maps, Google Talk, Google News, AdSense, and many others.

The point being, words like agile and innovative don’t have to be words that are only synonymous with startups. B2B companies can instill a challenger’s sense of agility through the behaviors and culture they nurture. If you’re wondering how a B2B brand knows if it should adopt a challenger mindset, there’s a wonderful diagram created by Michael Hay, a business leader with fifteen years at IKEA, that can help. Outlining four essentials for driving a successful change of strategy, it acts as a checklist for recognizing and delivering change.

need for change

Good Artists Copy; Great Artists Steal

At the end of the day, there are many lessons that B2B brands can steal from the challenger world. Are you leading with a strong story that unequivocally answers the question, “Why do you do what you do?” More than meet a singular need, are you meeting the needs of today and tomorrow better than anyone else? Are you talking with lead adopters at the front of the innovation curve and making them evangelists for your brand?

Perhaps the most important lesson that B2B brands can glean is in how they hire. As Adam Morgan writes,

“Employees at challenger brands require different qualities. They need to be mission-driven. They need to know why they get out of bed and go to work every morning and they need to be passionate about the problems the company is trying to solve. Being a maverick is also of far greater importance at a challenger, the opposite of at a larger organization where dissent is considered a flaw. Employees need to ask the provocative questions and not just take risks themselves, but also to be tolerant of risks that others might take.”

To learn more about how your product-proven B2B brand can benefit from adopting a challenger mindset, contact Tracy Lloyd at [email protected].

To finish reading our three-part challenger series, check out: Part Three—Challenger Brands: Design that Disrupts

Emotive Brand is a brand strategy and design firm for product-proven B2B technology and AI companies.

Machine Learning Is the New, New Thing. But Can It Help CMOs Build Brands?

Posted on by Carol Emert

Can big data build brands better?

A few years ago, Big Data promised to radically transform the marketing landscape. CMOs were warned to master it or watch their brands get left behind. Artificial intelligence was the next new, new thing. Now the hot property is machine learning, the data-crunching tool that can find patterns in big data and make them actionable.

Each of these innovations is truly transformative — and each has limitations. As machine learning gathers steam, let’s look at what it means for brands. Which challenges can machine learning tackle which still depend on human intelligence?

What is machine learning?

Simply put, machine learning is a form of artificial intelligence that uses high-powered algorithms to find patterns in huge datasets. By tracking the (mostly digital) behaviors of thousands or millions of anonymized individuals, machine learning can become predictive. For example, it can identify high net worth individuals and “rewind the tape” of their behaviors as they were climbing the ladder to financial success. It can then identify others who appear to be on the same ladder, so marketers can start nurturing their loyalty on the way up.

CRM platforms are using machine learning to understand the messages that drive engagement, then tailor content to people with statistical similarities. They’re replacing guesswork with statistically sound, automated methods.

So there are exciting ways that machine learning can help CMOs make their marketing organizations work smarter. But what can’t it do?

Don’t leave the human part out of the data part

There are four areas directly impacting brands where we think human intelligence – not machine intelligence — is absolutely required. They are: empathy and other emotions, creativity, insight, and aspiration.

Without these four things, you wouldn’t have a brand; you’d have an incorporated collection of business processes. It will be years, if ever, that a machine can substitute for these functions. Here’s why:

Emotions and empathy

The value of your brand is directly tied to what it means to people – functionally, but also emotionally. Building your brand requires an understanding of how it makes people feel and then a strategy for optimizing that emotional bond. This requires the ability to empathize with your audiences, to feel what they feel.

No machine can empathize with the feelings people have toward your brand. And no machine can develop strategies for optimizing those feelings. Machines can be smart — but they can’t feel.

Creativity

It’s true that software can be used for some limited creative functions. The Associated Press uses a form of artificial intelligence called natural language processing to write quarterly earnings reports, for example. But this only works for content that is templated, with known variables swapping in and out of a rote structure.

Brands by definition are completely unique. Every brand should have a distinctive voice, look and point of view that, combined, create a unique brand experience. Every brand touchpoint should deliver a consistent story. And only a human being can create and curate content that consistently tells and emotes the story of a brand.

Insight

Insight is a human skill that relates to both empathy and creativity. It’s a way of taking information and emotional understanding and evolving them into something greater than the sum of their parts. A machine can compute a fact like 1+1=2. It can’t compute an insight in which 1+1, as interpreted by the human gut, heart and brain, can sometimes magically equal 3.

Brand articulation is built on unique insights about how a brand relates to its target audiences, its competition and its cultural context. No machine can come close.

Aspiration

Every brand means something today and should aspire to mean more tomorrow. Aspirations and new ideas for achieving them aren’t facts that can be predicted by a machine. They’re the product of human emotions and human intelligence, dissatisfaction with the status quo, and yearning to achieve more.

At Emotive Brand, we’re excited about the new efficiencies machine learning can bring to CMOs and their marketing organizations. And we’re gratified to continue using our collective empathy, creativity, insights and aspirations to help our clients build great brands.

Have a peak at a few client case studies to see how we’ve helped CMOs build brands and use big data.

Emotive Brand is a  brand strategy firm working with leaders of high-growth companies to help build stronger brands.

Today’s CMO: What It Takes to Drive Growth

Posted on by Tracy Lloyd

We work with CMOs every day, developing strategy and positioning businesses to enable growth and build brand strength from within their organizations. We have seen a role shift for CMOs over the past few years and have deep empathy for these leaders as they look to keep pace with an ever changing set of skills – more complex and more digital by the day.

Because we have a front row seat of today’s CMO, we see more and more of our clients responsible for delivering both top line revenue and profit. CMOs are not only expected to keep pace with the changing digital landscape, but also deliver the insights that ensure they are maximizing that landscape for growth and impact. At the same time, CEOs must maintain a deep understanding of the shifting customer experience and continually deliver superior service. In short, today’s role of CMO is not an easy gig.

So what does it take to drive growth as a CMO?

Some of the most successful CMO’s who have driven growth within their organizations adapt a growth mindset to begin with. By working closely with their c-suite counterparts, they develop the right brand strategy to support business goals and objectives. They  are relentless in nailing the right positioning and messaging to target the right target audiences. These tools then inform GTM strategies and sales enablement programs.

Through our work, we’ve seen a few tactics from CMOs who t successfully drive growth for their organizations. To really make an impact:

Get in the driver’s seat:

96% of CMOs today recognize the importance of disruptive growth when looking to drive revenue. And because you act as the brand guardians of your organization, you are best positioned to drive such growth. Your deep understanding of the people the brand is trying to reach (customers, prospects, and the wider market), and your authority over the data to prove it, puts you in the perfect position.

So leverage your knowledge of what customers want to build a strategy. A good CMO has the extensive persona research and access to customer behavior data to build a strategy around a targeted audience. And you wouldn’t have been hired for the job if you didn’t have the skills, tools, and knowledge needed to step up and own growth. By leveraging your closeness and deep knowledge of the brand you can identify growth opportunities and navigate these opportunities – growing reach, engagement, and loyalty by focusing on the right people at the right time.

Dedicate more time and budget to disruptive initiatives:

Many CMOs worry that their marketing budget may be at risk if they aren’t delivering the needed results to move their business forward. Driving into growth mode often means stepping away from traditional initiatives and toward disruptive initiatives. And this means getting key people on board. Building a business case for these disruptive initiatives is a challenge and taking this risk in an informed manner requires a deep understanding of the brand – who it needs to reach and how. But when driven by a deep and thorough understanding of your brand, dedicating marketing budget to growth initiatives is bound to pay off for your business.

Align with the CEO and C-Suite to move faster:

In today’s world, it’s all about moving fast and efficiently. If you don’t move fast enough, you will simply fall behind the competition. So it’s important that you align the goals and objectives of your job with other goals and objectives in the c-suite.  Getting backing from the CEO, and the C-Suite all aligned and rallied behind growth initiatives can ensure that you can work efficiently to get your organization kicked into growth gear and keep a sustained growth pace moving forward.

Be a culture warrior:

As CMO, aspiring to be a ‘culture warrior’ is one of the best things you can do for your role and your business. Invest in your people. Behave with empathy, lead with purpose, and focus on strengthening connections within your organizations. CMOs should be the drivers of widening perspectives, breaking down silos, taking risks, and fueling productive change and groundbreaking innovation. These are the things that drive growth. Research has found that 67% of CMO’s who act as ‘culture warrior’ will exceed top-line targets by more than 10%, and 50% of ‘culture warriors’ will exceed targets by 25% or more.

Assuming accountability and leveraging your unique, deep knowledge of your business, your brand and the industry, will all help position your business for growth.