3 Key Themes Driving CMO Strategies in 2023
CMOs play a vital role in achieving efficient growth in today's volatile business landscape. To succeed, CMOs must prioritize customer value, adapt their marketing function, and optimize brand value. Here are the three key themes that CMOs should focus on in 2023:
𝟏. 𝐂𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐚 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐯𝐚𝐥𝐮𝐞 𝐞𝐱𝐜𝐡𝐚𝐧𝐠𝐞: In a rapidly changing digital world, CMOs must provide mutual value to customers throughout their cross-channel journey. This involves optimizing orchestration capabilities, using customer-directed engagement models, and personalizing strategies.
𝟐. 𝐀𝐝𝐚𝐩𝐭𝐢𝐧𝐠 𝐭𝐞𝐚𝐦 𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞𝐬 𝐚𝐧𝐝 𝐬𝐤𝐢𝐥𝐥𝐬: CMOs need to support new cross-functional operating models by evaluating where marketing should have sole or shared responsibility. By aligning marketing teams with business operations, they can drive strategic enterprise change and improve overall performance.
𝟑. 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐢𝐧𝐠 𝐬𝐡𝐢𝐟𝐭𝐬 𝐟𝐨𝐫 𝐛𝐫𝐚𝐧𝐝 𝐯𝐚𝐥𝐮𝐞: The traditional linear path to brand loyalty is no longer applicable. CMOs must reexamine their brand strategies to remain competitive. This includes repositioning established brands, meeting heightened audience expectations, and leveraging digital channels to build awareness and consideration.
To succeed in these areas, CMOs should focus on orchestrating meaningful customer experiences, developing customer-centric team structures, and integrating brand strategy with customer experience. By doing so, they can drive efficient growth, demonstrate the value of brand investments, and achieve their marketing goals.
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About The CMO Syndicate
The CMO Syndicate is a diverse group of world-class Chief Marketing Officers who rapidly solve growth and profit problems for CEOs, VCs, CMOs, and PE firms. As global CMOs from the world’s top companies, The CMO Syndicate is not a traditional marketing consulting agency, and we are not typical marketing or growth consultants. We are growth experts and operators who actually do the work on a part-time or project basis as outsourced fractional and interim CMOs.