Being a CMO is tough. It remains the shortest tenure among the C-suite, which means there’s more pressure than ever for CMOs to deliver results that make a significant business impact. With the continuous introduction of new trends and burgeoning technology in the B2B marketing world, it can feel difficult to keep up.
To help, we’ve compiled a list of statistics that are top of mind for today’s leading CMOs. And as troubling as these stats may be, they reflect the priorities that B2B marketers are looking to address when planning for the new year or a new quarter.
But not to worry, we’re not just here to scare you. The best way to grow and improve is to address your fears on the onset, and keep them out of your blindspot. So we’ve provided resources and tips to help you avoid being another statistic, and so you (and your team) can get a good night’s sleep.
1) 84% of CMOs identify data management and analytics as important to future success, but only half are confident in current capabilities.
Data makes the world go around. At least, that’s certainly true in the realm of B2B marketing. And while many CMOs may not be confident in their current capabilities and their relationship with their data management and analytics, there are some ways you can combat this:
Improve your email campaigns:
Quick, easy, but certainly not painless: if you’re looking to increase the success of your email campaigns, we recommend re-examining your approach to email marketing by focusing your list down to the people who matter. What does that mean? Start by deleting half your list. You heard us right. This blog post outlines how to improve your email campaigns with better results.
Make the most of your resources:
What remains one of the biggest barriers for CMOs is the conflict between delivering on short-term priorities that bring immediate results and keep stakeholders happy, and their more long-term goals for sustainable and scalable growth. Many find that they lack the resources and team skills to deliver on their B2B marketing objectives in the required timeframes. And CMOs commonly don’t have the resources to completely revamp their team or onboard new hires. With time adding pressure, we recommend considering outsourced resources as an option. This will allow you to drive the growth you want and impress your CEO while using your budget strategically to close your capability gaps. To help you make a choice that fits best with you and your company, we’ve got a guide outlining 5 factors to consider when outsourcing your marketing.
2) 80% of CEOs have expressed dissatisfaction with their CMOs. CMOs have the highest turnover rate in the C-suite, lasting on average only three years.
Today’s CMO is in both a powerful and tumultuous position. While they are largely responsible for driving change in their company, they are also held to high expectations by their CEOs. That, in conjunction with conflicting short-term expectations that can interfere with long-term growth, means it can be tricky territory knowing what should be prioritized.
Start the new year on the right foot with a B2B marketing plan that is aligned with the right priorities that provide a framework for the marketing plans of today’s leading CMOs. As part of DemandGen Report’s Strategy and Planning Series, Scott Armstrong covers how B2B organizations can drive better results in 2020 by focusing on the right performance measurements, the right team and organizational structure, and the right customer experience.
3) 85% of respondents believe creativity is critical to future business success, while only 54% believe they are delivering that well.
B2B marketers are regularly tasked with driving new and impactful campaigns, tactics, and content. But let’s face it, it can be easy to burn out or feel blocked.
We’ve all been there. Reinvigorating your creativity starts with focusing in on the right priorities. Here are some places you can start:
Take a good look at your B2B website design
Your website plays a large role in your customer experience. Here are some best practices for website design that can help improve your website.
Make your content work for you by repurposing it
Constantly churning out content can be taxing. Maximize your team’s creative energy by realigning to a more strategic approach: let repurposing make up the majority of your content creation process. Content repurposing allows you to make the most of what’s already bringing significant wins to your business by giving it new life in a different form. This guide outlines the 6 critical steps to successfully repurposing content. And if you’re still looking for new content ideas, well, we’ve got your cheat sheet right here.
4) 52% [of CMOs] said they don’t have the capabilities, such as people and technology, to maximize the value of their customer data.
This is a challenge marketers struggle with regularly, often turning to agencies and outsourced resources in order to deliver on their mandates that don’t compromise their budgets or burn out their staff. We suggest focusing on your objectives and using them to construct a team that suits your workflow, objectives and budget. To help you out when choosing a resource partner, we’ve put together this list of questions to help you determine which agency is the right fit.
5) 83% indicate that seamless customer experience and commerce across channels is important, yet only 60% believe they are developing this capability well.
Putting your customer at the forefront of your marketing remains a top priority for B2B marketers today. And with a non-linear buyer journey being the reality, delivering the best customer experience comes down to maximizing your content and ensuring that it meets your buyer at all stages of the journey. Here’s how to get started:
Optimize your CTAs for conversion
CTAs are a great way to incorporate customization that speaks to your audience and ideal buyer. Plus, they can be an easy way to increase your conversion rate. We recommend employing these best practices to optimize your CTAs.
Create content that’s aligned to the buyer’s journey
Evaluate your content library to ensure that it’s addressing all stages of the buyer’s journey. This blog post covers how to create a robust content experience that addresses the needs and pains of your buyer across all stages of the funnel.
6) In terms of financial resources, more than 40% of global CMOs report budgets as flat or declining, despite growing revenues.
Executive teams are pressuring CMOs to show how the company’s revenue pipeline is being influenced by marketing. With budgets continuing to sit at strict parameters, CMOs are pushing to execute marketing that makes a visible impact on business results. In order to make the most of their resources, CMOs are filling the gaps in their team by adopting flexible resource models and focusing their B2B marketing plan on priorities that will drive the right kind of change for their business objectives. Here are some resources that can help refine your marketing plan and make the most of the financial resources at your disposal in the new year:
Generate revenue with your B2B website
Your B2B website is a great place to start if you’re looking to make a direct impact on your company’s bottom line. This post outlines 3 ways your website can bring visible marketing results to your business and maximize the return on your investment.
Use pipeline marketing to your advantage
Make the shift to a more buyer-focused approach with pipeline marketing. This webinar is the ultimate guide to getting started.
Planning for the new year can feel like a daunting task. But by keeping these statistics in mind and using them as postmarks of what to avoid, you can ensure that your marketing is prepared for any hurdles you may face.
Create a framework for 2020 that optimizes your B2B marketing plan for success. This webinar outlines the priorities for today’s CMO and how to incorporate them into your marketing plan. Plus, you’ll get access to a cheat sheet that provides an executive dashboard and a content planning framework for your marketing initiatives. Register here.
Brainrider is a B2B marketing and creative agency. We provide content, web, and digital marketing services through a flexible resource model to meet your business’s specific needs. We’re focused on helping you achieve your business objectives and identifying opportunities for continuous improvement so you’ll always stay ahead of the curve.