the path of the growth cmo: from insights to tangible results · gyro webinar 10.29.14 the path of...
TRANSCRIPT
gyro Webinar
10.29.14
THE PATH OF THE GROWTH CMO:
FROM INSIGHTS TO TANGIBLE RESULTS
MARKETING WORKSHOPS
YOUR SPEAKERS TODAY
Michael Agnello Business Development
Carolyn Ladd VP of Account Planning
Aldy Keene President & CEO
DISCOVER WHO IS A GROWTH CMO
SEE HOW GROWTH-CENTRIC CMOS ARE FOCUSING ON OUTCOMES TO DRIVE SUCCESS
GAIN INSIGHT INTO A NEW CUSTOMER VALUATION MODEL TIED TO OUTCOMES
LEARN THAT OUTCOMES CAN DRIVE OMNICHANNEL MARKETING PROGRAMS
IN THIS WEBINAR, YOU WILL …
THE GROWTH CMO
WHO IS THE GROWTH CMO?
gyro, SAP and Forbes sought to answer that question.
Instead of focusing on what most marketers aren’t doing, we are examining what the 25% of above-average marketers are doing right.
8
GROWTH CMOS ARE MAKING THINGS HAPPEN
A growth CMO is defined as:
A new breed of people-centric marketers driving change in the industry by building the right cultural foundation, revamping the capability toolbox, and driving outcomes for their marketing organizations.
CMO insights are from interviews and panels facilitated by gyro with leading CMOs and from SAP’s “The DNA of a Growth CMO”
POLL
GROWTH CMOS: ATTRIBUTES THAT DRIVE SUCCESS
Growth marketers draw upon similar attributes to drive success, such as fostering a data-driven culture and delivering an omnichannel customer experience.
SUCCESS ATTRIBUTES:
MODERN MARKETING OUTCOMES
Customer Engagement I Data-Driven Insights
ADAPTIVE MARKETING CAPABILITIES
Technology I Talent I Omnichannel I Social Connectedness I Measurement
ORGANIZATIONAL CULTURE
Market Centricity I Trust I Risk Intelligence I Data-Driven I Learning
GROWTH CMOS: ATTRIBUTES THAT DRIVE SUCCESS
QUESTION 1: What are the top three activities that are driving marketing’s success in your organization today?
Integrating online and offline customer experience
Accessing marketing information in real time and optimizing plans
Serving as the steward of the customer experience
Adopter and promoter of data insights
Driver of business outcomes
Creating omnichannel experiences for customers
None of the above
1
2
3
4
5
6
7
11
THE FINANCIAL DISCONNECT
CMOs consider themselves to be orchestrators of the customer experience
50% Only one in five CMOs pursues or is able to tie customer experience initiatives with specific financial outcomes
POLL
MAKING THE SHIFT
Marketers are shifting emphasis from
content to commerce.
Growth CMOs see the need to:
• Make decisions using financial impact
• Demonstrate financial results of
initiatives
Increased customer loyalty
CO
NTE
NT
Increased customer satisfaction
Increased word of mouth
79%
68%
63%
Increased profitability
CO
MM
ER
CE
Increased revenue
Increased customer lifetime revenue
19%
18%
15%
Figure 7:
Top Outcomes Pursued from Improved Customer Experience
MAKING THE SHIFT
Increased customer loyalty
CO
NTE
NT
Increased customer satisfaction
Increased word of mouth
79%
68%
63%
Increased profitability
CO
MM
ER
CE
Increased revenue
Increased customer lifetime revenue
19%
18%
15%
Figure 7:
Top Outcomes Pursued from Improved Customer Experience
QUESTION 1: What are the top three outcomes you are measuring to improve customer experience?
Increased customer loyalty
Increased customer satisfaction
Increased profitability
Increased revenue
Increased word of mouth
Increased customer lifetime revenue
None of the above
1
2
3
4
5
6
7
14
CONNECTING THE DOTS
Finding ways to link customer experience initiatives with specific outcomes is critical for marketers.
In this next section, you will how this is possible.
15
MAKING THE LINK
TO OUTCOMES
POLL
CONNECTING THE DOTS
Show results here
Show results on slide 13
Do you link your marketing initiatives to financial outcomes?
1=Always
2=Often
3=Sometimes
4=Never
5=Linkage is not important to us
17
1,000 CEOs were asked:
Question: What is most critical to you in your job as CEO? Answer: Customer information. An understanding of customer relationships.
WHAT CEOS CONSIDER CRITICAL FOR THEIR JOB
Question: Which information that you currently get do you trust the least? Answer: Customer information.
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COMPLEXITY CONFOUNDS THE LINKAGE
Marketing Initiatives
Financial Outcomes
Impact
19
Other Factors Competition Execution Segments
LOYALTY DISTRIBUTION AND LINKAGE TO FINANCIALS
Loyalty Profile 26% 41% 33%
Wallet Share 57% 41% 26%
Margin 18% 16% 15%
Retention 91% 82% 63%
20
THE CUSTOMER RELATIONSHIP MODEL & METRIC CAN TAME COMPLEXITY
CUSTOMER BEHAVIOR
LOYALTY METRIC
RELATIVE PRICE PERCEPTION
PERCEIVED BRAND IMAGE
PRODUCTS CUSTOMER
SERVICE LOGISTICS TECH SUPPORT
ACCOUNT MANAGEMENT
PROBLEM EXPERIENCE & RESOLUTION
MARKETING
EXPECTATIONS, REQUIREMENTS
CASE STUDY
CASE STUDY CONT.
• Sales and marketing initiatives centered on conveying information and building stronger relationships • Communication Focus: Convey the superiority of the application using case studies and white papers
• Technical Support Communication Focus: Correctly specifying the formulation
• Also more sales and technical support interaction with these customers
• Executive interaction
• Significant emphasis
• Result? Little change. Measure revealed that 23% of customers fell into Vulnerable segment.
• Customer segments had different problems • The stronger customers considered these product solutions part of their overall business strategy to compete for their own customers more
effectively.
• Other customers wanted a solution to a different problem – lower price and faster order cycle time.
• Different design, not poor execution
• Different behavioral triggers
• Weak customers were a bad fit – what to do?
CASE STUDY
-60
-40
-20
0
20
40
60
Profit
High Fit with the Business Model
24
LOYALTY PROFILE AND FINANCIAL LINKAGE
46%
5,747
$51,837
$161,991
32%
36%
91%
$80,866
$464,717,502
Percentage
Number of firms
Average spend
Average total spend
Average share
Margin
Expected retention
Average CLV
Total Segment Value
32%
3,998
$52,740
$277,579
19%
29%
82%
$41,805
$167,127,316
22%
2,748
$89,206
$165,196
54%
44%
98%
$274,754
$755,151,698
LOYAL NEUTRAL VULNERABLE
25
COMMUNICATION IS CRITICAL
Over time, 38% of all potential compelling initiatives uncovered from this type of analysis are communications oriented:
• “Didn’t know you did that or offered it!”
• “We don’t hear from you enough.”
• Providing information about the strategic direction of the enterprise.
• Communicating about any improvements is a key part of the change management process
38% Strengths: Communicate the strength of position with current customers to the market.
26
OMNICHANNEL
MARKETING
CHALLENGE
In the competitive warehouse automation and consulting field, sales cycles can be measured in years, not months. Capital investments are high, and projects are infrequent and lengthy. This company needed a way to stay top of mind with its customers and prospects so that when the time was right for new construction, facility expansion or operations optimization, other companies would turn to this company for help.
STRATEGY
The strategy was to leverage advanced sales and marketing automation technologies and develop an integrated content strategy to deliver the right content at the right time to the right audiences via the right channels. In addition, the company wanted to nurture relationships and position itself as an industry thought leader.
28
AUDIENCE EMPATHY MAPPING
DIRECTOR OF DISTRIBUTION
THINKING
SAYING &
DOING
SEEING HEARING PAIN POINTS
29
PRIORITY AUDIENCE PERSONAS
VP SUPPY CHAIN
VP and ABOVE • VP Supply Chain • VP Logistics DIR and BELOW • Director Supply Chain • Manager Supply Chain • Director of Logistics
VP and ABOVE • VP Warehouse • VP Distribution
DIR and BELOW • Director of Distribution • Director Operations • Manager Distribution • Manager Operations
C-LEVEL EXECUTIVES • CEO • President • CFO
VP and ABOVE • VP IT
DIR and BELOW • Director IT
MANAGES THE ENTIRE SUPPLY CHAIN
DIRECTOR OF DISTRIBUTION
CIO CEO
INFORMATION TECHNOLOGY C-LEVEL EXECUTIVES
MANAGES WITHIN THE FOUR WALLS
30
AUDIENCE DECISION-MAKING MAP
BUYER EXPERIENCE FRAMEWORK
AWARENESS CONSIDERATION
CFO VP of Finance
CIO VP IT
DECISION
VP of Supply Chain VP of Operations
Initiators Director of Supply Chain
Manager Operations Distribution Chain Manager
CEO President
Procurement
Champions
Ratifiers
Bottleneck / Ratifiers
Consultants Gatekeepers
Ratifiers
Ratifiers 31
PHASED AUTOMATION APPROACH
ENHANCE SEGMENT AUTOMATE
• Enhance the company data to set the foundation for advanced segmentation.
• Leverage amplified content to immediately fuel email campaigns.
• Execute dynamically tailored email programs.
• Deploy advanced lead scoring.
• Auto-trigger new MQLs to sales.
• Launch engagement programs around conversational content campaigns.
• Create best-in-class cross-channel lead-gen experiences.
• Use revenue performance analytics.
Q2
Q3–Q4
2015
32
ADVANCED DEMOGRAPHIC AND BEHAVIORAL LEAD SCORING
New
33
AREAS OF FOCUS FOR 2015 IMC PLANNING
Marketo – ongoing campaigns targeting specific operations, IT and financial audiences based on demographic, firmographic and behavioral lead scoring
Advertising – for new campaign with more product/service executions, consider highlighting real results achieved for clients, alignment with content program
Media – less print, more proven digital opportunities such as webinars, dedicated e-blasts and e-newsletters to generate new leads
Content – increase use of videos, continue long-form white papers, post blogs more frequently to include video content, develop library of content to use during slower periods, content calendar and more frequent brainstorming
Trade shows – identify good fit for 2015 where the company can exhibit as a WES provider
Search – continue SEO and expand PPC to support lead-generation efforts
Social – where appropriate, merchandise new content across channels and listen/selectively participate in industry conversations in communities and forums
34
WHAT WE COVERED
• Described the growth CMO
• Showed you how growth-centric CMOs are focusing on outcomes to drive success
• Gained insight into a new customer valuation model tied to outcomes
• Learned that outcomes can drive omnichannel marketing programs
35
Q&A
THANK YOU!