Monica Kumar is chief marketing officer at Extreme Networks.
If there is one thing I’ve learned throughout my career in marketing for some of the largest and most notable brands in technology, it’s that nothing is static. In the world of B2B technology, where change is often frenetic, resisting transformation means hindering progress.
Fortunately for myself, and for what I suspect is true for many of my peers, I thrive on a rapid pace of change and evolution. It’s one of the things that drew me to the field in the first place as my career transitioned from engineering to marketing. Embracing this pace of change is even more pronounced in a marketing leadership role.
The role of the chief marketing officer (CMO) continues to transform, particularly in the world of B2B technology. When I began my career, the role of leadership was focused on owning brand awareness and driving demand at the highest level (e.g., “top of the funnel”). CMOs were assessed by their ability to build a team and foundation that could execute on these goals, without necessarily achieving alignment with the driving trends in their market. In other words: unfiltered growth and awareness.
But in today’s world, efficiency and margins are converging to demand a radical focus on customer acquisition, adoption, retention and lifetime value. In other words: strategic, predictable, efficient growth.
To accomplish this, today’s CMOs are expected to wear many hats. They must go beyond brand awareness and develop a deep understanding of their target market in order to drive business growth and achieve organizational objectives. The best approach is multifaceted, combining market research, competitive analysis and customer-centric strategies to ensure marketing efforts are aligned with other business functions.
The CMO becomes the bridge between the company and market, ensuring organizational strategies and product offerings align with customer demands and market trends. It’s marketing leadership’s role to effectively position the company to this target market, with the right messaging, offers and cadence.
This has created a subtle but transformational shift in marketing that moves away from driving broad awareness and the acquisition of “marketing qualified leads” via forms and downloads. In our new reality, marketing teams and leaders are no longer obsessed with driving marketing qualified leads (MQLs); the focus has shifted toward more strategic, account-based targeting and positioning.
Clearly, the role of the chief marketing officer in B2B has significantly transformed. This transition to a strategic leadership role, heavily involved in building go-to-market (GTM) strategies, involves a deep understanding of market and competitive dynamics, customer personas, sales motions, customer retention methods and the overall ecosystem in which the business operates.
Here are some of the other areas that continue to shape the modern CMO as the “chief market officer.”
Voice Of The Customer
B2B CMOs are increasingly tasked with establishing a marketing culture that accounts for the target market, buyer and users across the board. This maniacal “market focus” also includes owning and executing on developing (and continually refining) customer-focused positioning and messaging.
To be successful, modern CMOs must know how to leverage customer and user data from product analytics, sales feedback and other knowledge sources to stay on the cusp of business intelligence as it relates to the health of the market and of the business at large. By doing so, CMOs can ensure that their GTM strategies are ultimately data-driven, customer-focused and aligned with the company’s overall goals.
One of the key responsibilities of the chief market officer is also to understand and hone the voice of the customer. This means integrating customer insights into all go-to-market materials, campaigns and product launches. By doing so, CMOs create more targeted and effective marketing strategies that resonate with their audience. This customer-centric approach not only helps in building stronger relationships with customers but also drives business growth.
Alignment Across The C-Suite
CMOs play an essential role in driving alignment across the C-suite. From the CEO to the CIO, the chief market officer must collaborate with various departments to ensure that the company’s marketing strategies are aligned with its overall business objectives. This involves fostering a culture of collaboration and communication, where different departments work together toward common goals.
Increasingly, alignment between marketing and product teams is critical in B2B. With product differentiation and innovation continuing to shape GTM strategy, marketing and product (and CMOs and CTOs) should work in lockstep to ensure clear collaboration on all initiatives targeted toward reaching and influencing target customer personas and decision makers.
And, of course, no chief market officer can operate in isolation from sales. The job description increasingly should include a focus on tight coordination on GTM plays and processes, incorporating feedback loops and the right messaging and activities to reach target accounts and buyers.
AI And Technology
The evolving complexities of modern technology require CMOs to be on the cusp of the latest technological advancements. This includes understanding how AI can be adopted across teams and used as a marketing and sales asset. By staying updated with the latest trends and technologies, CMOs can ensure their strategies are innovative and effective.
The role of the chief market officer is even more focused on this approach, launching products by understanding market sentiment and likely impact. This requires a deep understanding of the market landscape and the ability to predict how new products will be received by customers. By leveraging customer insights and market data, which can often be augmented by AI, CMOs can develop more effective product launch strategies that drive business growth.
Ultimately, the role of the chief marketing officer has evolved significantly over the years. Today, CMOs are not just responsible for building brand awareness and driving demand. They are the force behind understanding their target market, leveraging customer data and driving alignment across the C-suite.
By adopting a customer-centric approach and staying updated with the latest technological advancements, CMOs can ensure that their strategies are data-driven, innovative and effective. The emergence of the chief market officer title reflects this evolution and highlights the critical role that CMOs play in driving business growth.
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