"How can CMOs build credibility and influence the board to adopt the new B2B playbook?" ๐ I've been writing about the new B2B playbook, and that the CMOs most adept at educating their peers and boards about how modern marketing works will be the most successful in the upcoming era. ๐ But HOW should a CMO talk with the board to make this happen? ๐ค ๐ ๐๐ก๐ ๐๐ก๐ข๐๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐๐ข๐๐๐ซ: ๐๐๐ฒ๐จ๐ง๐ '๐๐๐ซ๐ค๐๐ญ๐ข๐ง๐ ' Christine / Chris Heckart and Latanรฉ Conant have been encouraging CMOs to redefine their role as Chief Market Officers, focusing on the MARKET rather than just the job of marketing. As Christine puts it, "The CMO is the only C-suite executive defined by an activity versus an area of expertise. We donโt hear Chief Financing Officer, Chief Selling Officer, or Chief Product Making Officer." ๐ง ๐๐ก๐ข๐ง๐ค๐ข๐ง๐ ๐๐ข๐ค๐ ๐ ๐๐จ๐๐ซ๐ ๐๐๐ฆ๐๐๐ซ Focusing on the market helps CMOs frame their discussions in a way board members will care about. Board members, often from finance or sales, may not be versed in marketing intricacies. They care about growth and potential, so they need to understand your market and your company's ability to capture it. โ ๐๐จ๐ฐ ๐๐๐๐ฌ ๐๐ก๐จ๐ฎ๐ฅ๐ ๐ ๐ซ๐๐ฆ๐ ๐๐ก๐ ๐๐ข๐ฌ๐๐ฎ๐ฌ๐ฌ๐ข๐จ๐ง 1๏ธโฃ Competitive Positioning โ not brand. CMOs know that brand is not billboards, logos, and color palettes, itโs how people experience your company and how buyers feel about you relative to the competition โ which IS competitive positioning. But the board doesnโt need to know that. ๐ 2๏ธโฃ Sales Efficiency and Net Recurring Revenue โ not demand gen. Highlight initiatives that enhance sales team productivity, reduce the sales cycle, improve conversion rates, and expand and retain customer relationships. 3๏ธโฃ Customer Experience โ not messaging. CMOs are in a great position to collect research and show data about your buyerโs journey: how they research and buy solutions, the complexity of your customerโs buying groups. Use this to help the board understand how modern buyerโs journey has evolved and the old marketing playbook (ebooks, MQLs, trying to attribute credit to marketing vs sales, etc.) is outdated. ๐ ๐๐๐ฅ๐ค๐ข๐ง๐ ๐๐ฎ๐๐ ๐๐ญ๐ฌ ๐๐ง๐ ๐๐๐ญ๐ซ๐ข๐๐ฌ Then, talk about what marketing is doing this quarter and year to positively impact the competitive position, sales efficiency, and customer experience. Use OKRs to set specific, measurable objectives. Then frame the budget discussion: hereโs what we can do with the budget we have, and hereโs what we wish we could do if we had more budget. Finally, ask โgiven everything weโve covered, what metrics do you want to see from marketing in the futureโ. This Socratic method will help them buy into the new metrics that are crucial for marketing's success in today's B2B environment. #ChiefMarketOfficer #BoardroomStrategy #ModernMarketing #CMO #CustomerExperience #CompetitivePositioning #SalesEfficiency #MarketingStrategy #B2BMarketing
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