With “3 Lessons Every CMO Should Follow To Improve CX from Visioncritical.com and “How Customer-Tracking Technology Can Work Without Being Creepy” from Harvard Business Review [hbr.org], there is no doubt that this week’s CMO Perspectives is full of useful tips and trends for you to follow. We also share an interesting research piece on why so few Marketers are invited to sit on boards [Forbes.com] and a gem from Shane Schick [Marketingmag.ca] on how even Forrester has had a problem with its’ own customer data tracking and management. Enjoy!
3 Lessons Every CMO Should Follow About Improving the Customer Experience [Visioncritical.Com]
We know this is only the 2nd CMO Perspectives of 2016 but we have a feeling this will be one of the most read links we share this year. The post sums up 3 lessons every CMO should follow to improve customer experience taken from a webinar that Nick Stein, SVP of marketing at Vision Critical, recently gave. The best thing is that you can watch the whole webinar titled, "What Every CMO Needs To Know About Delivering A Better Customer Experience." Enjoy, we did!
Customer-Tracking Technology Can Work Without Being Creepy [hbr.org]
As our digital world and the Internet of Things evolves and companies start thinking about using wearables and tracking devices to improve customer experiences, it is important that customers feel that the benefits of these technologies far outweighs the creepiness factor. Ric Merrifield outlines it perfectly in this piece saying, "Organizations need to ask themselves if the ways they use the Internet of Things will strengthen their relationship with their customers or undermine it — and they need to be honest about their answers."
Why Few Marketers Are Invited To Join Boards Of Directors [Forbes.com]
Ever wondered why so few Marketing professionals are invited to join boards? Well so has Kimberley A. Whitler. Working together with a professor from TCU (Ryan Krause) and Columbia (Don Lehmann), Whitler studied S&P1500 boards over a six-year period (that’s over 65,000 board member biographies) to try and understand whether marketers at the board level mattered. The results they found indicated that boards with marketing-experienced members tended to have better total shareholder return (3 percentage point increase), and yet, despite the findings which suggest that marketing experience could be valuable at the board level (full article includes highlights), only 2.6% of the over 65,000 board members in their research database had managerial-level marketing experience. This is an interesting piece of research and it makes you wonder, just why?
Reinventing Marketing in the Digital Era [bbvaopenmind.com]
This has to be one of the most comprehensive reports we have seen on Marketing for the Digital Era. George S. Day explores how the activities, responsibilities and design of the marketing organization evolve in the future? He says that the answers will emerge from the interplay of three driving forces with the unique features of each firm’s strategy, legacy, and the dynamics of their market. These driving forces are: the impact of digital technologies, the changing role of the Chief Marketing Officer (CMO) as a member of the C-suite, and emerging organizational designs. It's a good thing that you can easily save this piece to your tablet or reading device because it is long, but good!
Forrester’s CMO Perfectly Captures the Marketing Imperative For 2016 [Marketingmag.ca]
Gosh! When one of the top analyst firms, aka the ones we turn to for insights into how to run our companies better, admits that even they have a problem with tracking and understanding data about their customers, you know you are in for an interesting read. Cue Shane Schick, editor in Chief of Marketing Magazine, for connecting us to this brilliant Inbound 2015 Executive Track video showing Victor Milligan, CMO of Forrester discussing this problem. As Schick says this is one of the best overviews he's seen that shows not only where some of the pain points are, but where CMOs need to spend their time to fix them. Did we say interesting?