Lesson 1: Leave room for risk.
Have a safe space to try things out, especially since “there’s no one-size-fits-all audience” for marketing, advised Magen Hanrahan, VP of Media and Marketing Services at Kraft Heinz Company, during her keynote at Modern Customer Experience. By leaving room for risk, you open yourself up for new ideas—from new marketing channels to new data application—to test and learn what works for your brand.
As marketers, we’re no stranger to limited budgets, so it’s mission critical to get the most bang for our buck. That means spending wisely. Magen explained that by using data to find “super fans” of the Kraft Heinz brands, they were able to send targeted follow-up online offers and content specifically to those fans, versus simply scaling efforts to an automatic demo audience. The result: marketing efforts became 30% more effective.
Interesting side note: I never realized that 98% of U.S. households have at least one Kraft product at any given time.
Lesson 2: Marketers need to earn the right for sales calls.
Marketers often get so caught up in the day-to-day that we forget how important our support for our sales counterparts is—not just for the business, but for your customers’ overall experience. The more valuable your marketing is, the more you earn the right for your sales teams to make that follow-up call.
During a panel session at Modern Customer Experience, Seth Lieberman, CEO of SnapApp; Gail Morag, VP at Minitgo; and Nick Edouard, President & Chief Product Officer at LookBook HQ, all reiterated that understanding the impact your content has on your audience is key to activating it, accelerating leads, and driving sales conversations. By immersing your strategy in big data and artificial intelligence, you can read the right signals, solve for specific problems, and most importantly, scale your efforts.
Lesson 3: Revenue targets are CMOs’ new normal.
It’s a changed world—around 65% of CMOs’ number one responsibility is hitting revenue goals, versus a few years ago where the focus was on brand objectives. In his keynote at Modern Customer Experience, Shashi Seth, SVP of Oracle Marketing Cloud, said that shift to revenue goals reflects the changed world we live in—a cord-cut world where users spend more time on technology, more time in their social spaces, more time seeking instant gratification. And, marketers need to change too in order to hit new goals. We’ll get there by relying on data, and being able to make sense of it, so that we can better target prospects and nurture those prospects into customers.
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And visit smartercx.com/moderncx for keynote highlights and coverage from the show floor.