7 lessons in marketing effectiveness from the CMO50

Some of the brightest brains in the marketing leadership business share how they've learned how to lift marketing effectiveness over the last year


5. Keep it collaborative

From a B2B perspective, sales and marketing alignment has always been critical for success. And for Mimecast marketing director, Daniel McDermott, utilising programs and frameworks to ensure integration and alignment at a senior management level has been a hefty contributor to marketing effectiveness.

“However, it hasn’t always been easy to drive this throughout the organisation and ensure every sales rep and marketing manager are as well aligned. This year, we have introduced a weekly orchestration meeting for each account owner’s territory run by marketing,” he explains. “During these meetings, the marketing team provides insights on account activity, which was previously unknown by sales, and aligns all go-to-market functions around actions to take based on this data.

“This has elevated marketing’s value in helping to drive our business growth and has improved every marketer’s perceived value across the business.”

Breaking down the silos across teams has also been a marketing effectiveness winner over at ANZ for CMO, Sweta Mehra. She describes Covid as an accelerant for large organisations used to operating in a particular way to come together and better align themselves.

“Every time we have done work that I’m proud of, and which has paid off massively, we have pulled down the boundaries. A simple answer is just getting rid of the silos,” she says.  

Three key steps have helped ANZ achieve this. The first has been removing structures across the marketing team separating brand strategy from product or digital work.

“We’ve had the best of times when everyone has worked together without worrying about whose role is what,” Mehra says.  

The second thing is thinking through the entire customer experience across channels versus thinking purely about communications. “Then we’ve worked with distribution partners to shape that experience,” Mehra continues.  

The third step was redefining the way the team thinks about external partnerships. “In a traditional model, you think of brand, creative, media and PR agencies. Through this process, we have had Google, Facebook and our tech partnerships as much a part of the day-to-day teams and huddles as we have had those traditional agency partners,” Mehra says.  

“This has really delivered different content, experiences and much better effectiveness.”

6. Measure wisely

Then there’s making sure things are measured appropriately. “What gets measured gets done,” says Suncorp EGM brand and marketing, Mim Haysom.

“What has worked for us is being very clear on our ambition, clear on what success looks like, getting the metrics around that right and then measuring and optimising to achieve the effectiveness goals we set ourselves. Having the right metrics in place, and having robust science, data and analytics underpinning those metrics also helps with building stakeholder credibility, and giving stakeholders the confidence to invest, trust and believe in the power of marketing to drive business outcomes.

“This has become a virtuous circle as the more we have proven our effectiveness and results, the more we have been able to invest in marketing driven growth.”

7. Harness technology

Vanguard Investments CMO, Louise Eyres, points to the “effectiveness dividend” coming from the financial services firm’s enhanced martech stack as delivering greater impact to B2B channels as it is to growing direct-to-consumer channels.

“Efficiency in campaign delivery and effectiveness in knowing when to engage and the impact to our clients of personalised connections is as valuable to an adviser practice and our sales teams as it is to a direct end investor,” she says. “Provide me with clear, simple information when I need it, in the format that I need it.”

It’s a message echoed and summed up well by Southern Cross Austereo CMO, Nikki Clarkson.

“Greater sophistication around martech, AI and partnerships in the area of digital audience acquisition when paired with strong, insightful brand and marketing strategies, will ensure the marketing function has an even greater ability to influence business success,” she adds.  

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You can also follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page

 

 

 

 

 

 

 

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