Sales and Marketing Areas and Digital CMOs Turnabout at Full-Scale
October 28, 2018 | Habib Balogun
The real achievement and goal of either marketing or digital marketing in any company today is not only to make and sell products but surely is to grab and possess the market. A savvy digital Chief Marketing Officer of a successful company is able to think of his/her company’s digital marketing transformation, thinking of the product in a fresh way, thinking in a way that begins by defining what you can lead. Remember, when you are able to lead and move faster in a race in marketing, you will grab and possess it and for any other company to sidetrack you, it will be very difficult. Because in marketing, leadership is to grab and have possession of that market! And to make all these happen successfully, the digital CMO must create leadership strategies, one is about creating more demand and an unrelated one to reduce the negative impacts of demand of your business and the sales team and marketing team have got to permit the existence of the spirit of understanding in-between the two areas and always having it in their minds that they are working for the same goal under the same umbrella.
In the digital market of nowadays, if you own the market, you should be prepared to do things differently as do your suppliers and your customers. When you own the market, you should have the capacity to develop your products to serve that market specifically; you should be able to define the standards in that market; and it could be much better if you have a chance of bringing-in into your camp the third parties that might have interest to develop their own compatible products or to offer you new features or add-ons to increase your products; you get the first look at new ideas that others are testing in that market; then you attract the most talented people because of your spirit of leadership position that has already been acknowledged.
In the digital marketing, the constant progressive success of a digital CMO in the market would make him/her own the market and could make the digital CMO becomes the dominant force in the field and for this reason you deepen your ownership of the market. And most importantly, you should try to deepen your relationship with your customers with that spirit of trustworthiness, honesty and sustainability.
In the business of mass-manufacturing, the vis-a-vis will be mass marketing. And in the business of flexible manufacturing, vis-a-vis will be flexible marketing...but whatever the case maybe in the digital marketing of today, updated digital transformation is needed first, and the ability to market will follow. The digital transformation would embody adaptability, programmability, and ability to cope with stress.
It’s really no joke to drive growth in a challenging market environment of 21st century, so there must be quick improvement in the performance of your sales force…and most especially, for the late-career marketers who really urgently need to be acting and become publishers and not only to be capturing data to gain audience. That means they must try their utmost best aligning sales resources/marketers meeting up with customers needs. And because of the unforgiving planet we are living-in today – the global economy, disruptive technology, digital transformation, internet of things (IoT), robotics, and artificial intelligence etc, suppliers pressing up the margin, Customers are going and doing businesses direct with suppliers, competitors are innovating and minimizing the system in the chain of distribution. In today’s market, best customers are the kings
So it will be essential for all organizations to drive a commercial transformation that is worthwhile for sales/marketing growth. Mind you! All well digitally-transformed Chief Marketing Officer will do great things in their organizations and they must do things differently- in the best forms.
The digitally transformed Chief Marketing Officers selectively and aggressively challenge business model assumption: These CMOs seek to create pipelines of innovations that they test and validate in rapid succession so the digital CMO is on the rise in strategic importance.
The digitally transformed CMOs do not run after customers: They attract the best customers to their companies and these CMOs cultivate profitable and sustainable relationships with customers to focus on account and inherently represent a good fit for their business, rather than trying to close as many deals as possible.
The digitally transformed CMOs are committed and remain committed: They value or impact the original value of their brand, company. Many marketers feel pressured to win new business or keep accounts at any cost, but the most effective do not offer price concessions just to win business. They are convinced of the value that their company offers and expertly help their customers understand it too. They employ the techniques based on their knowledge of what customers value to convey their offer in a way that resonates for them.
The digitally transformed CMOs avoid selling products. Similarly, great marketers/sellers do not try to sell items or products themselves. Instead, they develop emotional connections with their clients. By doing so, they draw attention away from the price and features of the product and appeal to the feelings that customers value and the identities they want to experience and express. The truth is that most successful businesses sell satisfaction.
Some other roles to watch: data storyteller, chief content officers, data architects and corporate Journalist. They are all very important to fill the gaps that stand between marketing.
Training and coaching would be so helpful.