How Global CMOs Reap the Benefits of Technology
Global organizations have realized that technology can provide many marketing and branding benefits that they can leverage to further achieve their specific objectives in this area.
For example, Julie Lyle, CMO of Demandjump and former CMO of Wal-mart believes technology has enabled tracking, measurement, and best practices sharing. She explains “Different teams in different time zones are able to collaborate seamlessly, share tips and tools, document best practices, and build global snapshots rolled up from local key performance indicators (KPIs) among other things. Technology has added tools that can address the inherent complexity in the marketing mix, helping marketers to manage data privacy and compliance tracking, while facilitating consumer engagement more effectively.”
Some companies have found similar success managing their global branding efforts via technology. For example, Phil Clement, CMO of AON believes that global brand surveys help to assess how the brand is doing in a particular area, how much loyalty it’s generating, and how likely people are to want to work with you before they hear your proposal. He has also found that the net promoter score works well on a global basis because the data can be analyzed on a central basis.
Created A Lot of Value
The result has been the ability to share best practices with other parts of the organization. Clement states, “We’ve created a lot of value around a few core sets of metrics that allow people to understand the success
in Holland in a way that can translate to whether or not it would be successful in Brazil. However, marketing equivalency as well as how to determine the value of a lead or how to describe a qualified lead are tough to do as a global standard and require you to be responsive to the local geographic description of these things if you want to be effective.”
Other organizations continue to use a combination of tools for marketing and branding, recognizing that some are more effective on a global basis while others serve local intelligence. Vice President of Sales & Marketing for Vencorex Sutin Chamulitrat says, “We have the CRM and business intelligence system while in the past it was as simple as a spreadsheet practice. Once we set up the objectives either quantitative or qualitative, we monitor them.
Chamulitrat says for sales, the measuring metric is obvious. “You have typically a percentage of the sales, an increase of the margin or the market share, and customer satisfaction percentage. Internal strategy for long-term growth such as Innovation and New Products development progress were also measured. That tells what we need on a global and local basis and how those would support our strategy.”
Maximizing technology is just one of the challenges CMOs face when going global. Download The CMO Solution Guide For Global Brand Leaders, Transcending the Geographic Divide to learn about the other 5 elements and how leading CMOs are transcending the geographic divide to achieve success.
Source: ORACLE MARKETING CLOUD