What does it take to move from CMO to CRO?

revenueMarketers are playing in an uncertain field

We have seen tremendous change in consumers’ behavior in the past 10 to 20 years brought about by rapid technological advancement. The Internet has played a disruptive role in diversifying market segments and transforming the way businesses interact with their audiences.

Consumers now hardly listen to the advice of in-store sales personnel—they have conducted their research online and learned about the differences in features of competing products. They immediately recognize a better deal from a good one after browsing a host of online sites offering the same piece. Many are skilled at prying on special promotions that are offered exclusively online.

There are simply too many new elements that marketers should take into consideration in order to thrive in this period of the digital age.

Good News: The CMO is keeping up

If in the old days the customer funnel was clearly defined and largely predictable, tried-and-tested marketing strategies implemented, and conventional channels exploited, the present-day marketing battle field is anything but a ground of the steady and familiar. But the good news is—our dear old Chief Marketing Officer (CMO) is not lagging behind.

CMOs were accustomed to following the known customer funnel, which today largely no longer exists, but now they recognize that the digital platform is wobbly and volatile and that it can change any time. Like a plane of interconnected puzzle boards, the pieces move around real-time and the customer could be thrown off into too many directions, away and towards their business goal, depending on which puzzle piece the customer hops onto next.

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7 Ways to Boost Your Revenue Performance

performanceIf you’re looking for solid ways on how to significantly improve your organization’s revenue performance, seven is your lucky number today.

We have gathered 7 of the most effective strategies to boost your revenue performance.

Focus on revenue generation

You knew that already? We thought so, too! But the real issue is this: too many companies do not always

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Are you targeting the right customers to get optimal revenue results?

know your target audience2You want to achieve greater revenues for your business by building on better value propositions, increasing customer spend, cross-selling, shortening the buying cycle, leveraging customer loyalty, and increasing your overall market share. Great goals! But how do you exactly plan to achieve them?

A very good place to start with is to get to know your customers well. This article aims to present you with some insights on how you should go about to target the right customers!

Market Segmentation is the discipline that enables companies to identify revenue opportunities through knowledge of, among others, customer buying behavior, interests, and geo-demographic characteristics. It usually involves classifying customers into groups based on their unique quality, common needs, and how they respond to different marketing approaches. Ultimately market segmentation is about matching right products to the right people; the better you are at doing this, the more effective you can covert sales!

So how do I segment my customers I hear you ask! The first step you will need to decide what information you should be collecting on your potential customers. Picking the most relevant customer profiling methods is critical so that

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Total revenue performance management as your strategic advantage

Chess Board thinking strategicallyWhat percentage of your revenue did that series of webinars contribute last quarter? Does the top-line figure justify the CMO’s decision to fund that million-dollar marketing campaign?

A CMO practicing Revenue Performance Management has deep insights on ROI of marketing programs and could give an outright response to these important questions. Unfortunately for many companies, marketing executives do not set revenue goals and overlook the importance of tying marketing efforts to returns. Traditional marketing practices focus only on marketing activities and rarely pay attention to revenue generation.

Revenue Performance Management is a systematic approach that enables business leaders to analyze and quantify the results of marketing activities with the end goal of optimizing revenue growth.[1] It entails evaluating marketing and sales performance to identify

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  • Tony's drive for results is only overshadowed by Tony’s astute business accruement and by his ability to align his results with the client’s expectations.

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    Todd Heatly Category & Supplier Relationship Manager (Marketing & Corporate Services) at Qantas
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