This blog post explains how CMO Advisory can generate value for the CMO of any large Enterprise.
A recent analysis of hundreds of Marketo consultants across 5 different companies found that 100% of these consultants are in the “engagement marketing factory” business. These consultants are working with marketing teams and or technical teams to execute.
They are helping these teams take advantage of engagement platforms and execute their marketing. The marketing execution is at the “factory” level. The consultants are great at running the factory and even designing a better factory. However they are not providing what the CMO and other executives need at the company level.
At the same time there are other consultancies at 30,000 feet that don’t understand the details at the platform level and marketing team level. So they can only provide a sort of theoretical strategy without actually being able to pull levers on the ground to get results.
This creates an opportunity to connect the 30,000 feet with the on-the-ground activity to increase actual results. This is the opportunity CMO advisory solves. It is an executive layer combined with the engagement marketing and technical layer.
1. It starts with a view at the top for CMO’s
2. You will then engage with the technical platform layer to identify opportunities to push technical capabilities forward. (For example what is the most advanced marketing technology stack that you have seen across 100+ companies and how far can your tech stack advance)
3. Simultaneously there is a marketing deep dive to identify marketing revenue opportunities with your marketing teams. (For example $30 million of recurring revenue identified that could be achieved by 6 agreed best practice initiatives)
4. These opportunities are taken back up to the CMO to make decisions, share revenue opportunities and progress.
5. And then there is constant engagement with the marketing and technical teams to share best practice.
This ongoing cycle results in alignment and all teams (marketing, technical, executive) moving in a clear direction with clear results.
It is only by combining the three worlds (Executive, IT and Marketing) together that this value can be achieved:
And this is the crux of why this is hard to do.
What we have found is that CMO Advisory requires 2 senior people working in conjunction to create this value and cover the three roles (executive, technical, marketing).
And CMO Advisory takes time because the cycles need to run to instill the team learning, identify revenue opportunities, advance the tech stack, allow for marketing execution, and generate executive value. We recommend deploying CMO Advisory in 6 month increments to ensure executive value is generated.
CMO Advisory tools allow you to scale this value as fast as possible. For example one tool would be a set of views designed to show revenue opportunities (high-level, detail, execution progress). This is an example of a high-level view that shows $160 million of total incremental revenue opportunity that can be achieved with concrete initiatives identified by the marketing teams:
Ultimate success with CMO Advisory is not primarily about the tools. It is about a mindset of representing the CMO with specific on-the-ground knowledge to drive results for the CMO and the business.
“Representing” means you will need to pretend the business is yours and work on behalf of that business at the highest level.
If you would like to talk about CMO Advisory please contact me at:
rajiv [at] ChaiSTRATEGY [dot] com
914 886 8167
New York, USA