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Marketing tactics: From extracting value to delivering value

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CMO Australia recently celebrated their five-year anniversary and took the opportunity to reflect on how much marketing has changed in that timeframe. And oh boy has it changed!

From creation of the marketing cloud to data-driven everything to the rise of the chief customer officer, it’s no surprise that marketers have been in the midst of significant and lasting change.

The creation of the chief customer officer is particularly interesting, as it had substantial implications for the CMO role. Prior to the CCO, marketers never really thought about the end-to-end experience. But, somewhere amidst the data-driven marketing shift, customer experience professionals changed the dialogue and customer loyalty, retention and advocacy came to the forefront. This started in earnest in 2014 and this year has reached a crest.

The CCO allowed marketers to take on a broader, more strategic role and revert focus back to establishing an emotional connection with each consumer. As Nadia notes in the article linked above, marketers were focused on the acquisition of customers but didn’t necessarily have jurisdiction for the end-to-end experience. Now, with digital transformation flipping traditional rules on their head, we have seen an inherent shift in the way that organizations deliver value and form connections with customers.

In this customer experience revolution, marketers have an imperative to gain trust, have a real-time, 360-degree view of the customer and deliver a holistic, digital-first customer experience. Just as the role of CMO changed drastically five years ago with the rise of marketing clouds, the role is undergoing another transformation today: now, there is nothing more important than building an emotional connection and personal relationship with each unique customer.

When I reflect on my own experience and try to pinpoint the biggest change in marketing tactics, it’s this: back then, it was what we did “to” customers. Now, it’s what we do “for” customers. Instead of extracting value, we are delivering value.

This calls for a re-structuring of organizations and a re-thinking of products and business models. To deliver continuous value to a connected customer requires deep insight into each point in the customer lifecycle. The ultimate goal is to discover needs and intent and map that to something of value that takes them to the next step in the journey.

In the shift to data-driven marketing, the human connection was lost. The focus turned to the sales opportunity rather than the customer. Things have changed. Our customers have changed. They seek trusted brand relationships and that’s what we’re here to help our customers do — connect with purpose.

Don’t miss the most powerful event of the year when it comes to connecting with your customers. Join us for SAP Customer Experience LIVE in Barcelona

This post was first featured on LinkedIn, and is syndicated here with permission.

Kevin Cochrane
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October 4, 2018
Kevin Cochrane

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