Last time we discussed three pain points for CMOS:
- Analytics and Attribution
- Short-Term Performance Pressure
- IT
Each of these items causes CMOs to lose sleep.
In Part II, we find there is more that makes the CMO uneasy each day at work. These are opportunities for you to find a way to make the CMO’s life easier.
4. How To Earn Younger Customers
Many of today’s CMOs at eTailers and eCommerce companies have experience in other marketing areas including catalog and direct mail.
These companies are largely in transition from sending catalogs to customers that are now over 40 years old and likely even older.
In order to keep the business viable in the future, they need ways to reach the younger generations.
That’s where you can come in and provide the solution.
But you better have a way to attribute sales. These CMOs are used to the catalog world where it was very clear where sales were coming from.
5. Changing Business Models
Many CMOs are eager to make changes to their business model. They know that they might have a few good years of sending out catalogs, but beyond that, they need to establish a strong eCommerce business model.
One pain point is that other people in the business are averse to change. The CMO gets pushback on all new initiatives because there is risk involved with change.
Help the CMO to figure out how to make change happen in the business and they’ll be thankful and happy to bring you on board as a partner.
6. Budgeting
It may seem like budgeting responsibilities would fall on the accounting department, but the marketing team is usually heavily involved in the budget process.
If you have tools that can make it easier to organize budgets while making the process more accurate and easy to understand you’ll have the entire marketing team on your side.
Stay tuned for the conclusion of the CMO Pain Point Series…
