Change is Coming — Key Takeaways for Product Marketers
There is fresh research from the CMO Council that has some interesting stats on digital marketing trends and senior leadership attitudes towards it. Great news — the love for digital marketing is on the way up, as is the marketing budget allocation. Why? Because, it is a super smart way to create measurable success in an agile way — whether that is revenue growth, customer retention, or a bit of both.
‘60% of chief marketers list “digital marketing makeover” (involving platforms, programs and people) as the number one transformational project in the year ahead’, State of Marketing CMO Council August 2014.
TAKEAWAY 1: This is important info for Product Marketers. With one of the three tenets of Product Marketing being ‘Build Business’, digital marketing is a swift way for Product Marketers to engage with target markets, deliver valuable content and build a qualified pipeline of juicy, juicy opportunities. So, make sure you are spending enough time assessing digital channel choices to engage your audiences. Not sure which ones will resonate with your target persona? Ask them.
The CMO Council research also suggests more than half the surveyed marketers expect to grow headcount and budgets in the next year. A lot of this increase will be diverted to lead generation and product launches. Again, great news for Product Marketers.
TAKEAWAY 2: If you have not signed up to the Customer Centricity mantra by now then consider yourself a laggard. Marketers are the key coordinators to help align business processes and customer touch points to enhance total customer experience. Every interaction impacts the brand of the company and the brand of a product.
‘If you have not signed up to the Customer Centricity mantra by now then consider yourself a laggard.’
If you are a Product Manager or a Product Marketer and you are not thinking about the total customer experience around your product, then start panicking. Total customer experience around the use of a product is ‘the product’. That is what Product Managers should be managing and what Product Marketers should be marketing. Do this really well and there is still competitive advantage to be had in many markets.
TAKEAWAY 3: What is the top skill marketing leaders will be seeking to invest in over the next 12 months? It’s customer analytics, according to the CMO Council. Marketing leaders have come to terms with the fact that they need to measure activities and deliver a return. They are therefore developing a voracious appetite for intelligence around their customers. Product Marketers are a superb source of customer intelligence, no?
For me customer intelligence is a key value proposition of a Product Marketer. The messenger of the market, the voice of the customer, the owner of buyer persona definition — these are all references for a great Product Marketer. Product Marketers can help marketing leaders be successful by being a trusted advisor on the customer.
For Product Marketers and Go to Market professionals there is a way to learn great practice and develop in step with a fast changing market. Australia’s only face-to-face training course is available from Brainmates for all Go to Market professionals. You can find out more and register for an upcoming course here.