Ever since the year 2016, the world of social media has evolved so much. There has been extensive use of social media platforms such as Instagram and Facebook for sharing stories and expanding your business to a comprehensive level. Interacting with the audience through social media platforms will enable the business owners to target more customers and engage themselves with the users. The rate of consumer email has increased to an incredible average level of 6% on an annual basis. By 2019 it has been predicted to grow at the amount of 118 billion messages.
For any organization to promote your business on an extensive level, taking the proper guidance of the Chief Marketing Officer plays an important role. According to the latest research, external CMO is surrounded by massive challenges, fresh opportunities, and new evolving priorities for delivering greater consistency towards the customer experience.
CMO helps to manage profitable growth
When any person classifies themselves on the position of CMO roles, one of the significant areas to put the focus on is related to the creation and profitable growth amazements. Any CMO who is working as a growth driver brings upon a considerable gap that is happening to take place between reality and ideal state.
Previously, interviews were held for the external CMO roles, in which maximum interviewees mentioned the fact that having any enterprise set upon with a great mindset plays an essential role within CMO success. Nevertheless, there have been only 6% of the CMO who is wholly involved in working for revenue growth across the business activities of the whole world. There was another report survey that highlighted some of the major discomforts of CMOs in acquiring the role of a growth driver.
CMO works as a customer expert
CMO playing the role of customer champion is talked about to be yet another significant element to focus upon, which is customarily added with further examination. They know how to manage the reputation of their brand and also make sure that their upcoming customers have an exceptional experience with their brand. As you will be categorizing this piece of responsibility, we will be identifying the overall need to align organization within the region of customer circle by using analytics and data to bring upon the excellent experience of customers all along with measured results of your business.
It has also been investigated that CMOs are often aspiring to expand the exposure of their roles as being the dominant voice of any customer. They often add upon with some untapped opportunities by the side of CMOs, which is much needed for connecting their aspirations with the customer needs. According to a recent survey, around 55% of CMOs are having a lack of understanding to figure out their customer needs.
CMOS work as a capability builder
CMO is also playing a significant role in working as an expert for deploying stronger market capabilities. All those market holders who are working as a capability operator thoroughly demonstrate the functions that are reaching across the entire business. Some of the market holders possess a more significant amount of customer insights along with the technical reach. But at the end of the day, they are not at all broadening the application of a customer. There have been around 34% of the CMOs who are applying all of their capabilities for achieving campaign management. But on the other side, there have been approximately 10% of the CMOs who are using their capabilities to improve the management of the life cycle or management experience platform of any customer.
CMOs play the role of innovation catalyst
All those market holders who can create upon a proper breakthrough by means of these platforms are another major element of external CMO. Any market holder who is making the use of innovation catalysts mentioned that intelligence and data could eventually help them to bring growth in their marketing agenda. Just 18% of the market holders believe that understanding the overall concept of product portfolio will assist them in reaching the next stage of marketing success.
In the middle of all such changes, it is entirely upon the market holders to protect their company's leading brand and offer the customers with an invitation to take part inside narratives. CMOs working as a chief storyteller plays an essential role in brand promotion and ring a consistency in brand marketing. They even make sure that they are not running away from this responsibility at any point in time. According to the latest survey, around 40% of the CMOs are working on reshaping the brand and working on various activities of campaign execution. Whereas just 6% of the CMOs are working on increasing the growth revenues of their brand!
As marketing decisions are increasing, the role of CMOs becomes even much more complicated. The final results of any business growth will be depending upon all those various roles that are to be played by the Chief marketing officer for bringing success to any organization.
An Overview About Changing Role of CMO
In the last few years, the importance of the role of CMO has grown widely and on a significant level, which is wholly based on the changes coming across in marketing practices. These practices are performed to carry out successful results in any organization. CMOs play the role of targeting new customers and uprising awareness of their brand among the circle of customers and even within the outside world. They know how to manage the reputation of their brand and also make sure that their upcoming customers have an exceptional experience with their brand.
In short, CMOs are aligned to perform different roles that build collaboration between customer and brand, along with other internal departments. But this shifting of customer experience can bring fruitful results if the customers are fully involved in the process of marketing. All the CMOs should make this collaboration element to be one of the significant parts of their marketing process/strategies.