If you’re a regular reader of our blog, you’ll know that we have recently discussed some of the top qualities critical for today’s chief marketing officer to possess. Top CMOs possess many characteristics.
- revenue focused,
- accountable risk-takers, and
- great communicators.
They are always learning.
However, one constant among top-performing CMOs is their ability to embrace change so they can lead companies and teams through digital transformations successfully.
This core skillset is essential in a world where customer expectations and technological capabilities continually evolve.
The following is a look at why the capacity to embrace change and lead others through it is so important for a great CMO.
The Customer Experience is Key
You could safely argue that the ability of your business to beat competitors at providing the best customer experience to your marketplace has more impact than anything on your success in the digital era. Given that most industries are full of competitors working diligently to this end, customer expectations for the holistic experience with products and services consistently rises.
Because of the nature of CX, marketing has taken a more central role in the development and implementation of core business strategies. CMOs must lead research and analytics teams in gathering and evaluating how customers react to current offerings, promotional strategies and the industry as a whole.
Then, as quickly as possible, strategies must be reviewed, revised and communicated with the executive management team and with marketing professionals on the front lines.
Leveraging New Technologies
The continuous increase in technological capabilities forces CMOs to adapt at a faster pace than ever before. Access to improved technology is beneficial for companies and customers, but it creates an endless learning curve for professionals and leaves little time for leaders to rest on strategies.
Much of the technology that give many a CMO meaning and success is in the area of data and analytics. In most industries, top players thrive on their abilities to capture vital profile and behavioural data on prospects and customers and then utilise it to develop targeted business and marketing strategies.
Behavioural data, specifically intent data, presents a tremendous opportunity for industry leadership when managed well by a CMO.
This type of data offers deep insights into the way precise buyers, including job title, actually behave when searching to address specific needs and in response to marketing tactics.
Much the same way that a calm person is well-equipped to support a friend through a difficult change, a CMO who masters change can guide his teams through challenging transformations.
As technology and customer expectations evolve, the need to restructure business processes and activities requires adaptation.
Change is one of the greatest stressors in a workplace, so the CMO must create a culture where change is accepted and embraced rather than feared.
Having a well-established system to modify processes and communicate with teams is one of the ways top CMOs manage process restructuring efficiently over time.
Change is inevitable in most industries because of the technology and customer factors noted.
Thus, it is difficult, if not impossible, for most firms to succeed in the long run without a top CMO well-versed as a change agent with great adaptability.