Why the Modern CMO is Like a Mutual Fund Manager
Jim Williams, Vice President of Marketing at Influitive, has spent more than 20 years in B2B marketing with start-up and growth-stage technology companies. Under Jim's leadership, Influitive has developed a world-class inbound marketing engine that fuels between 70% to 80% of their revenue engine. Jim's built a thriving community of engaged advocates made up of customers, partners and evangelists.
On this episode, Jim and I discuss the dynamic role of the modern CMO. He reveals the skills needed by the modern CMO, how to impact revenue growth by building a team of internal and external advocates, and pitfalls to avoid. Jim stresses how a CMO's best tool is the brand's reputation - what are your customers saying about your brand?
On This Episode You'll Discover:
- Why Jim says the role of the CMO is the most re-defined in the C-Suite
- How 20 years ago the CMO's role was all about raising brand awareness through PR, advertising, MarCom, data sheets, buyers guides, etc
- How CMOs are now, as Jim says, swimming in data and have the ability to systematically and scientifically move a buyer through the buyer's journey
- How the CMO is affected by the power transfer from the brand to the buyer
- How part of the CMO's role in the C-Suite is to identify market opportunities, drive revenue and be the steward of the customer experience
- Why your brand identity is what your customer says about you - your reputation
- Why Jim says a CMO's most important skills include recruiting and developing talent
- How a CMO must have a balance of creative and scientific skills and the ability to work with other parts of the business, specifically to integrate with the customer experience
- How a CMO adds the most value to the organization by wielding the most data and bringing the reality from outside the 4 walls, to inside the 4 walls
- How the CMO adds value to the C-Suite by presenting the broadest view to revenue
- How the CMO touches the most steps on the buyer's journey
- Why Jim says CMO's are like fund managers, making and managing low and high-risk investments
- Why Jim says early marketing technology was "a contract" between marketing and sales and how it has exploded into community management, advocate marketing, social media marketing, A/B testing, behavioral data- all things that are breaking down the silos
- Why Jim says your best tool as a CMO is what your customers say about your brand and your products.
Featured On This Episode:
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