Results show:31% CFO24% Head of Sales13.8% CMOWhile I'm not surprised to see CFO or Head of Sales ahead of the CMO, I am disappointed in the low percentage equated to CMOs-by CMOs. That said, I think CMOs are in a tough position where they've got to make the transition from vague marketing reports to hard-hitting proof points reflecting their contribution to business objectives on the CEO's agenda.In response to the poll.
The CMO Club asked respondents to provide some insight to their ratings. Their reasoning includes:CEO interest in the reports provided.Speaking the same language.CEOs spend more time with CFOs and heads of sales because their priorities include managing the company's coffers and filling the company's coffers-ultimately increasing shareholder value.
If marketing wants to be considered a core pillar of their company's success, they need to pay some attention to perception. One of the best ways to do this is to build better relationships with those who do have the CEO's ear-the CFO and the head of sales.
Sort of like influencing the influencers.Reports need to focus on things like:increase in sales-qualified leadsincrease in pipeline progressioncontribution to reduction of sales cycle reduction in customer defectionsefficiency of budget spend related to outcomes producedFocusing reports on lead generation numbers and growth in presumptive customer affinity doesn't mean anything unless it results in deals closed or customer contract renewals.
For reports to merit attention, they must prove marketing initiatives are helping to produce business results.This is why it's imperative for CMOs to work hand-in-glove with heads of sales. In order to gain insights that reflect high-impact contributions in reporting, marketing needs visibility across the sales process after the handoff. The farther into the pipeline marketing can provide assistance that enables sales to win more deals, faster, the more ammunition they have for hard-hitting reports CFOs will want to see.
When the CFO sees value in the efficiency of the budget spend in regards to the results produced, you've given them something to talk to the CEO about. And, you've safeguarded your budgets. When heads of sales can report higher sales, their professional status soars. Think about this for a minute. Marketing spends a lot of time (or should) helping prospects and customers learn how to solve problems. In order to do that they learn the language thier buyers speak and they use it to increase relevance.
They focus on high priority issues from the buyer's perspective. Any of this ring a bell? Well, why can't CMOs apply the same strategy to elevate their status with those who have the CEO's attention?The more you help someone, the more they're inclined to repay the favor.
That's human nature. Plus, they won't want you to stop.If CMOs can get CFOs and heads of sales to sing their praises, CEOs will start taking notice of marketing as more than just a department that exists because, well, they're supposed to have one.
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