At a recent Run The Summit and TD Canada sponsored Masterclass, I joined the panel to share some tidbits about growth, go-to-market, and brand. One of the questions asked was, “What is one marketing trend you would delete from the internet forever?”
I would delete the current perception of marketing being promotion. There is a common denominator I have heard from leaders and I would gladly delete that one marketing trend as it has been driving this statement. Leaders are saying, “We do not need marketing. We need a product, go-to-market, commercialization, and growth strategy.”
“I agree that you absolutely need that. So, here are a few questions?
- How is your product solving customer problems, and how is this different from other players in the market?
- What is the current market opportunity for your product, and why should customers trust your solution?
- What approaches are you taking to create visibility to buyers willing to buy?
- What is your current business and revenue model for organic and inorganic growth?
- How are you acquiring new, retaining existing, and expanding revenue that aligns with your board and executive expectations?
- How are your teams aligning on business goals while anticipating market change or disruption?
- What system and infrastructure is in place that is predictable and repeatable for scale and market expansion?”
The trendy words are “product, go-to-market, and commercialization”. Guess what? This is where marketing can help, as this is the true definition of what a Chief Marketing Officer focuses on. Lucky you – you get an all-in-one solution for what you need to build brand credibility and drive growth. Marketing is that one connector in the organization often put aside though. Why? There is still a misconception that marketing does not understand the business and market.
While I have been in marketing for 20+ years, I have seen it evolve and broaden – shifting from push to pull strategies, aligning with customer buyer needs and personalization, creating experiences that generate demand, building new products to take to market, to contributing and driving revenue growth. Along the way, marketing became sliced and diced and defined the same as it was in the 90’s – as promotion.
Specialized roles have come to fruition but the Chief Marketing Officer role requires the generalist view and strategic capability to bring all specialized roles together as a system for organizations to see real value. Otherwise, we are operating like the old days – in silos and fragmented. Can a specialized role offer value and accelerate execution needs? Absolutely. This is why companies choose this path. However, companies reach a stop sign or a road bump when they recognize that the disconnect between all teams that they need aligned and integrated as a system, is forming a gap for growth.
A marketer is not just a marketer. A marketer is the dot connector CEOs need. A strong marketer will understand the market, customer behaviour, regulatory changes, and technological and scientific advancements that move the mark for businesses across industries. And, they understand how to bridge that with their marketing strategy and the company’s strategic imperatives. A strong marketer will have a partner, customer, growth, product, and go-to-market strategy while bridging gaps between sales, product, and customer success. And to effectively implement, they will know how to collaborate with all cross-functional teams.
That is the definition and value that marketing brings to the table. Boards and CEOs need to have a seat available for marketing – not a seat below another chief that filters information to them.
Sincerely,
Reena Agnihotri – your MarTechTalk CMO
———————————————-
Disclaimer: Views expressed
The views and opinions expressed in this content are solely those of the author. The author takes full responsibility for the accuracy and completeness of the information provided herein.