Now Loading

Top 5 ways CMOs can drive business growth for CEOs through customer centricity

New Delhi: CMOs can significantly contribute to business growth by prioritizing customer-centric strategies. This involves establishing direct channels for customer insights, engaging with industry analysts, accelerating revenue through innovative sales approaches, maximizing post-sales value, and fostering brand advocacy within communities. These efforts ultimately drive profitability and market credibility.

Setup Dedicated Customer Advisory Board

To cultivate a customer-centric culture even more , CMOs should explore establishing a dedicated customer advisory board, which can harness the collective knowledge and perspectives of highly valued customers. By actively engaging this board, CMOs can enhance their decision-making process, formulate marketing strategies grounded in direct customer insights, validate their market approaches, foster co-creation opportunities, and encourage brand advocacy. The input provided by customers holds immense value for CXOs, making it an invaluable asset for driving long-term success.

Engage Industry Analysts alongside Business Leadership

It is essential for every CMO to actively engage with analyst firms, maximising the potential of analyst relationships. Regular networking with analysts is crucial, considering they have access to insights from your competitors, customers, and even your competitors’ customers. By effectively influencing and building relationships with analysts, CMOs can ensure they remain at the forefront of their minds, maintaining a strong presence in their discussions and recommendations.CMOs must seek a seat with Analyst firms to their benefit.

Drive Sales Velocity by Empowering Sales to Accelerate Deal Cycles Instead of Only Filling the Funnel

 Rather than solely focusing on demand generation for the organisation, marketing should prioritise accelerating the sales deal cycles. By actively working towards expediting the booking and closure of deals, marketing directly impacts the organisation’s cash flows. To achieve this, marketing needs to think innovatively and explore strategies that can influence the closure of opportunities, ultimately driving more efficient and timely revenue generation for the business

Maximize Cross-Selling and Up-Selling Potential by Empowering Customer Service Collaboration for Post-Sales Value

In today’s fiercely competitive landscape, the significance of increasing customer lifetime value surpasses the constant pursuit of acquiring new customers. Marketing teams should actively seek to gain more control over the customer journey after the sale, as this presents an opportunity to influence cross-selling and upselling to existing customers. By focusing on post-sales activities and fostering strong relationships with customers, marketing can maximize the potential value derived from each customer, ultimately driving long-term profitability for the organisation.

Create brand champions through community based marketing strategies

CMOs must harness the power of community-based marketing strategies to cultivate brand champions who are passionate advocates for your brand. By building strong connections within communities, fostering engagement, and providing valuable content, they can empower loyal customers to become influential brand ambassadors. These brand champions will not only spread positive word-of-mouth but also drive organic growth, expanding  brand’s reach and credibility in the market. Through community-based marketing, a brand can thrive by leveraging the collective power and enthusiasm of its most dedicated supporters.

 

Disclaimer: The views expressed in this article are solely those of the author and do not necessarily reflect the opinions or policies of ObserveNow Media. The author is solely responsible for ensuring the accuracy, completeness, and validity of the information presented, encouraging readers to independently verify and seek professional advice if needed.

Tags: Trending