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Deliver value to empowered customers
Providing value to empowered customers will require organizations to concentrate on understanding individuals as well as markets and to derive insights from a deluge of data.
Mercedes Lopez Arratia, Head of Digital Marketing and Premium Marketing at Banamex, explains that learning more about individual customers has made the bank’s marketing much more powerful. Banamex uses data to offer the products and services that customers want.
Sumit Sawhney, Vice President, Sales, Marketing & After Sales, General Motors India, explains the focus on creating strong brand acceptance. General Motors is broadening its appeal by recognizing that both ambition and emotion are important to its target audience.
Foster lasting connections
To cultivate meaningful relationships with customers, marketing must engage with them beyond the transaction phase. And how an organization behaves is as important as what it sells.
Carey Rountree, SVP, Sales & Marketing at Georgia Aquarium, describes an innovative anniversary contest about swimming with the sharks - whale sharks, that is. Georgia Aquarium used unique, existing assets to parlay marketing success into an ongoing revenue stream.
Chris Fehrnstrom, Chief Marketing Officer at Constellation Brands, says hard winds are blowing for marketers, but that's the best way to test a sailor's mettle. Constellation Brands is integrating social CRM not just to talk to consumers, but to listen to them.
Sumit Sawhney, Vice President, Sales, Marketing & After Sales, General Motors India, describes the goal of creating “buzz around the brand.” General Motors creates conversations to connect with customers across a highly diverse country, aiming for people to love its brand.
Mercedes Lopez Arratia, Head of Digital Marketing and Premium Marketing at Banamex, finds that social media is a great marketing tool but also a great customer service tool. Banamex has created new digital assets by listening to customers and by generating conversations.
Carey Rountree, SVP, Sales & Marketing at Georgia Aquarium, recognized that employees are a great source of ideas. Their daily face-to-face contact lets them know what guests want and helps differentiate the Georgia Aquarium: “We love being first…the biggest … the highest-attended.”
Sumit Sawhney, Vice President, Sales, Marketing & After Sales, General Motors India, says the customer relationship only begins with the car sale. General Motors has received industry awards and gained significant market share by making ongoing customer satisfaction a top priority.
Capture value, measure results
CMOs need to be accountable to the business for marketing spend, but to do that, they need to have the right mix of digital, analytical and financial capabilities – and lead by example.
Chris Fehrnstrom, Chief Marketing Officer at Constellation Brands, manages the data explosion with three pillars. These include using “one view” of data, simple and common scorecards to measure key company activities, and a single technology platform to support analytics.
Mercedes Lopez Arratia, Head of Digital Marketing and Premium Marketing at Banamex, recommends that CMOs: get closer to “the numbers,” learn to captivate your audience by looking at best practices outside your own competitors and maintain a focus on customer service.
Carey Rountree, SVP, Sales & Marketing at Georgia Aquarium, recognized a need beyond just teaching others what he knows. Georgia Aquarium now taps into knowledge of those truly immersed in the world of new media to stay current and find new ways to use social media.
Chris Fehrnstrom, Chief Marketing Officer at Constellation Brands, says a corporate consolidation put marketing’s focus on delivering business results. The company intensified its training about what its brands stand for, what they mean to customers and how to sell them.
IBM c-Suite Studies