Tag Archives: Account Based Marketing

The Top 6 Skills a B2B CMO Needs to Be Successful

29 Aug

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The CMO position is finding its way to the head table in many companies. As the hybrid skill set of the CMO become more important to business, the skills that should be prioritized are showing themselves. Although industries may vary, the competencies that are required for success tend to remain the same.

Product Marketing

As you know, most of your revenue will likely come from your existing customer base. Every CMO should understand how to market to a legacy customer as well as outreach to new ones. As aspects of product marketing, CX, UX and visual design are all important skills that your CMO should have available.

Scaling Content Creation

As the rest of your business scales naturally, your content will require a bit more effort. In order to get more quality content going for your brand, you either have to hire more people or outsource to a higher degree. Additionally, the different forms of content – how to videos, eBooks, email blasts, webinars – all require a different set of skills to make. A CMO must be able to determine the types of content that are most effective and work within the company budget to grab the most of it for the least.

MarTech

The best CMOs often come from a coding background. However, the CMO will usually not be employed as a front line coder. What is the balance here? The CMO should understand the language of the people who will be in the trenches handling business. Marketing is becoming more aligned with tech, and the successful marketing departments of the future will incorporate a great deal of overlap with the IT department. The CMO must understand what to prioritize within this overlap while understanding how difficult it is to translate marketing concepts into technical executables.

Agile Marketing

The main job of the CMO is to get rid of as much uncertainly as possible in the marketing process. As a data driven position, the CMO should naturally know how to manage shifting timelines and priorities. With a mastery of agile marketing, a CMO will basically be able to apply these shifts in real time. The result should be quicker deployment of marketing campaigns, a higher flexibility to make changes during a campaign, and a more effective cost for campaigns.

Account-Based Marketing

Even with digital automation and AI taking the reins in many aspects of the B2B sales funnel, there are more people than ever involved with each sale. Account based marketing keeps track of the money through this ever lengthening chain of command. One of the major priorities of any CMO should be to ramp up the sales velocity. The CMO should lead efforts to target many decision makers through multi-channel outreach at one time. This requires a close eye on each account from a perspective of personnel and finances.

Learning to Manage the Millennial Generation

Millennials are moving into managerial and executive positions, and the successful CMO will have to learn this new generation. Their motivations are different. There is no moving around them – they are the most qualified applications in most cases. Millennials have a natural ability to combine the soft skills of marketing with the hard skills of technology. As the older generation fades out and is replaced by this generation, a good CMO will learn a more sensitive, environmentally friendly and less hierarchal method of management.

There are certainly a bevy of skills outside of these top 6 that a CMO should learn. The market will change, and with it, the skills that should be prioritized. However, a mastery of these will certainly give a leg up.

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Consolidation and Convergence: B2B Marketing in 2017

5 Jan

 

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Many industry experts agree; the idea of collective data will be a driving force moving forward into 2017. Proprietary data and walled gardens for individual publishers aren’t cutting it anymore, there is new content daily and new iterations of the same data thousands of times per day.

Consolidation and convergence giants such as Forbes have been ahead of the curve in the B2B market, with most smaller publishers consolidating in the B2C market. However, smaller brand data collectives with an emphasis on the B2B market are now a viable option, with platforms aggregating data from CRM platforms and industry analysts alongside traditional publishers.

The Takeover of Account Based Marketing (ABM)

2016 saw some very interesting changes in B2B, mostly because of the takeover of account based marketing. ABM was not a new technology; however, 2016 was the year that it became viable for the average business to use.

The market for ABM is now in its consolidation stage. Marketers are not looking to purchase a separate dashboard for each product, especially when networks are converging and providing more data in one place at once.

Where is Business Truly Converging?

The convergence of ABM platforms is all about sales and marketing teams converging as well. There is less of a gap between the two disciplines, as well as a new outlay of business specific metrics that are creating a shorter distance between acquisition, visibility, and revenue. 

The marketing qualified lead (MQL) went the way of the dinosaur in 2016, and experts are still debating what the replacement metrics will be in 2017 and moving forward. Some of the metrics that are being tested include target account engagement level, brand exposure, opportunity for acquisition, and campaign sales funnel depth per target account.

Will Ownership Be Socialized?

In 2017, the notion of owning data may also move in favor of the collective pool of data that is useful to all partner companies. There are already efforts to develop a Universal ID standard that will be used to identify different audience profiles. The precursor for these developments was proven to be profitable in the B2C market, prodding the big budgets associated with B2B to move on the issue in 2017.

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