The chief marketing officer, reinvented
The chief marketing officer, reinvented
Insight

The chief marketing officer, reinvented

The CMO can be the true connector of the C-Suite on customer-centricity.

Over the last couple of decades marketers have had to step up their game to better understand and leverage data to not only better target their customers but, more importantly, produce yields from their marketing investments. The CMO, once focused on pushing a message out to a handful of markets, now has to listen and cater to thousands of individuals. This has forced the CMO into becoming the champion of the customer within his company more than at any time in the past.

This paper shares practical insight on:

  • the transition of the marketing organization
  • the expanding role of the CMO driven by customer demand
  • ways for CMOs to find success in a customer-centric environment
  • measuring success with establishing customer centricity.

The chief marketing officer, reinvented

From brand guru to customer advocate: How today's CMO combines art and science in a customer-centric organization

The bumpy transition of the marketing organization

Once upon a time, marketing was defined solely as a creative discipline.

The CMO used to spend the bulk of his or her time building and communicating the brand. Over the last couple of decades, however, marketers have had to step up their game to better understand and leverage data to not only better target their customers but, more importantly, produce yields from their marketing investments.

In this new era, the company that treats the customer like a king is the one that beats the competition.

The CMO, once focused on pushing a message out to a handful of markets, now has to listen and cater to thousands of individuals. This has forced the CMO into becoming the champion of the customer within his company more than at any time in the past.

 

I think the ‘Mad Men’ kind of marketer has gone away, but there’s still this progression companies have to go through to get to customer centricity.”
Julio J. Hernandez, Principal, Customer Advisory Leader, KPMG LLP

The CMO’s customer-centric checklist

CMOs can take the following actions to create a truly customer-centric marketing organization, and support their company’s efforts to create the ideal customer experience.

 


Advocate for the importance of the customer to the organization.

  • The CMO must talk to his or her colleagues about how each customer is a valuable asset based on a relationship, not just a person at the other end of a single transaction. Considered assets, those customers can and should then be nurtured over time.

Use data to paint a clear picture of the customer for the rest of the company

  • Follow the customer through the entire company lifecycle, understand potential points of failure along the way, and share lessons learned. Bring data to life to offer colleagues the deepest possible understanding of who the customer is, what he wants, why he wants it, and how he wants to interact with the company. Continue to find new data points and innovate ways to leverage data.

Bridge the gap between all of the disciplines that could impact the customer experience

  • It’s one thing for a company to claim it is focused on the customer, but that’s true only if very department is organized around actually delivering on that promise. With access to customer feedback and an eye on maintaining a strong presence in the marketplace, the CMO can be— and often is—an internal customer experience consultant to the C-suite and the leading driver of a customer-centric culture in his or her company.

Mind the budget

  • CMO turnover has remained high in great part because many marketers still haven’t gotten their arms around Marketing Return on Investment (MROI). At first it was reticence to share details and then justify spending, now the hesitance often includes a lack of financial chops.

Know your best chances of winning, and pick your spots

  • As part of driving profitability, CMOs also need to figure out what the company’s value proposition is, articulate it, and move the organization to understand where and how to win with focused efforts.

Gather data outside the typical sources, and leverage technology for deeper analysis

  • Consider looking beyond customer-specific data to include marketplace trends and analysis, such as macro trends and details on the competition. Watch what customers do, not just what they say in focus groups.

Talk about successes

  • Say what you’re going to do and describe how it’s going to your internal audiences, keeping a scorecard to identify areas to improve.

Incorporate purpose

  • Understand that today’s consumers want to buy more than a product or service, they want to buy an idea, a promise. Younger generations have been vocal about their desire to support companies that stand for something, but the data show that this appeal spans generations. Of course, it’s a fine line, as one company’s purpose has the potential to alienate a significant segment of buyers.

Be all of the above, and still generate the big ideas

  • In-depth analytics, a productive and agile marketing organizational structure, frequent communications—all of these efforts will carry the CMO far, but they can’t replace the passion that a powerful brand carries. Don’t let data get in the way of making connections with the customer through emotional experiences.
As a CMO, if you really want to manage the customer experience, you’re going to have to do it through the power of influence.
Jason D. Galloway, Advisory Managing Director, Customer Solutions, KPMG LLP

Why KPMG?

Today’s customers are better informed, better connected and more demanding than ever before. Customer experience is overtaking price and product as the number-one brand differentiator.

KPMG combines expertise in strategy and implementation – as well as far-reaching industry and functional knowledge – to create better customer outcomes that produce better business returns. That means looking beyond the front office to a wholesale transformation of functions such as marketing, sales, and service – and linking them to the middle and back office.

The resulting organization is closer to customers and can deliver interactions that are seamless, responsive, relevant and consistent, helping companies build greater loyalty and share of wallet.

KPMG can help your organization evolve into a connected enterprise that meets the demands of today’s informed, connected consumers.

We know how your business works and we know how to get things done. Our global network of talented professionals combine technical expertise with practical business experience in consumer-facing industries, helping your organization address each capability across the connected enterprise – down to the detail – in the right context for your business functions.

 

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