Today’s CMOs have a lot on their plates, and keeping up with marketing trends is of the utmost importance. Here’s what you need to know to be ready for 2020.
The role of chief marketing officer (CMO) has evolved dramatically over the past decade. Today’s digital age has increased the pressure and the responsibilities for CMOs in every industry, leaving many marketing leaders to wonder what’s next. As marketing becomes integrated into every facet of a brand, CMOs must work harder than ever to stay abreast of the trends that keep their organizations on the cutting edge.
Looking ahead to 2020, successful CMOs must focus on several key areas. We reviewed the top CMO trends and created a list of the efforts every marketing executive should prioritize in the coming year.
Marketing relies on technology more than ever, and every successful CMO needs to understand how to utilize IT solutions to put marketing strategies into action. It won’t be enough to have a great relationship with your organization’s chief technology officer (CTO) in 2020. CMOs must comprehend the capabilities and limitations of technology, in addition to being proficient in its uses.
Delve into the Data
Most (if not all) CMOs rely heavily on data analytics to make the decisions that drive business forward. In the coming year, the top marketing leaders must understand the difference between being data-driven and being data-informed. The shift to a data-informed approach requires CMOs to review data analysis and use their intuition and experience to design winning strategies.
Understand Emerging Audiences
As younger consumers become larger proportions of buying audiences in every industry, successful CMOs must learn to anticipate their needs and wants. Gen Z buyers will comprise 40% of all consumers by 2020, and they have different priorities and tolerances than older audiences. CMOs need to get to know this emerging audience to remain relevant.
Build a Strong Internal Brand
CMOs already know there is no such thing as successful external marketing in an organization that has a poor internal culture. Investing time, energy, and resources in strengthening the internal brand will, in turn, create better customer experiences and support overall marketing strategies.
Mentor Tomorrow’s Leaders
CMOs can’t function in a vacuum, and every great leader needs great support. By fostering rising talent in their marketing department, a CMO can create a more effective team for the present, as well as the future. After all, every successful CMO will someday move on, and the organization will need new leaders to step into the role.
Successful CMOs of the future will need to be agile leaders ready to pivot and adapt to keep their organizations competitive. They need to put customers first and learn how to use technology to drive decision-making and create customer experiences that leave a lasting impression on buying audiences.