Marketing is a core part of an effective revenue engine, but for CMOs looking to amplify their impact on the bottom line, it can be difficult to get started. After all, marketing has so many moving parts, what should leaders focus on to ensure their campaigns have the reach and impact they seek? Understand your target and position, then use the right people and tools to execute your campaign effectively.
In a discussion with Jeff Pedowitz, President and CEO of The Pedowitz Group, we explored the core pillars of effective marketing campaigns and how CMOs can maximize the impact of every dollar spent.
1. Get Market Segmentation Right
Before CMOs discuss what they can do, focus on who they are targeting and where they are in the market. The first step in getting tangible results that can lead to increased ROI down the line starts with getting their market segmentation right: perform SWOT analyses and identify your ideal customer profile. Once that’s done, benchmark your products and services against your competitors, highlight clear unique selling points and make that your key marketing message.
Another often overlooked aspect of market segmentation is being realistic about your capital availability. Depending on your industry, the budget allocated to marketing can differ significantly. Since CMOs need to prioritize a positive ROI in their campaigns, consider that most campaigns require incremental budgets to execute well. Strategize your spending based on the priorities of each campaign, to ensure that ROI remains at the top of mind.
2. Invest in Talent Over Tech
In strategizing for their next winning campaign, many CMOs turn to their tech stack for solutions. But despite record-breaking investments into marketing tech, CMOs often overlook getting the right talent to utilize these tools. Hence, before utilizing any more of your resources to acquire new tech, ensure that your marketing team has the headcount and skills to execute your strategy effectively.
Start by mapping your talent out: identify their roles and potential coverage gaps, then ensure that they have the skills to utilize your tech stack to drive the results you want. If you find that your marketing team is constantly playing catch-up with your competitors, consider running coaching sessions to help your talent develop the skills you need to succeed.
3. Tailor Content to Your Audience
Buyers today are tired of being overloaded with information and marketing, and marketing has to be more tactical with every message sent. Use the data found in market segmentation to understand your customer’s needs and pain points: get into the headspace of a buyer and understand the situation from their perspective. Create and distribute marketing content with a clear intent and target, and you will see audiences resonate with your message.
Content curation is also striking a fine balance between quantity and quality. You need to ensure that your message stays at top of mind, but you also want your content to be attractive. Many CMOs make the mistake of getting the content out just to meet criteria, resulting in less effective campaigns and a poorer ROI. Instead, take a step back and critically assess your content now and then: consider any changes in the buyer’s situation and evolutions in your offerings.
Ready to get your next winning campaign on the road? Tune into the full conversation on the GTM Value Creation Corner Podcast - Episode 12: Marketing as a Key Revenue Driver.
