Adopting a Full Funnel Marketing Philosophy Is the Key for CMOs Driving Change & Creating Value Fast in 2022
By Kurt Genden
Co-Founder and Managing Partner
TrueVoice Growth Marketing™
In this time of dramatic upheaval and change, marketers have an unprecedented opportunity to take their place in the corporate spotlight and change the perception of marketing as a cost center to create the new reality of marketing as an essential driver of revenue growth.
To seize upon that opportunity, I continue to find the Harvard Business Review (HBR) an invaluable source of marketing insight on how marketers and other growth executives are grappling with – and can get ahead of -- the accelerating speed of digital transformation.
In my previous blog, “Accelerating Growth by Becoming a Customer-Centric Company: A Single View of Data & A Shared Operating Model,” I drew upon an HBR article (“Making Customer Experience the Heart of the Enterprise: How Organizations Are Uniting around the Customer in Order to Thrive”) to reflect on how modern marketers and organizations can improve customer insight, customer engagement, scale, and speed by focusing on two critical areas of need – creating a single source of customer data within an organization; and making the necessary changes in their operational systems to seamlessly synchronize the people, processes, and technologies to leverage that data to identify, nurture, and convert those customers.
These two areas can now be seen as foundational building blocks – the essential baseline for customer-centricity today. However, getting those “blocks” defined and operational is really only just the cost of entry for modern marketing to address today’s digital-savvy customers. They make companies “current” with their markets and lay the foundation that can be leveraged to drive growth and create value in 2022. Much more must be done and marketers must be at the center of that effort.
With that in mind, another more recent HBR article, “5 Ways Marketing Leaders Can Drive More Value in 2022,” looks at how CMOs can make the necessary moves to do just that while at the same time growing the importance of the marketing function. According to the HBR article: “A recent EY/Financial Times survey of approximately 200 senior marketing executives showed that 77% of the respondents believe the marketing function needs a stronger voice in setting corporate strategy as owners of the customer journey. Areas like data-driven marketing, e-commerce, and CRM cannot afford to be led in silos given how quickly friction must come out of the customer journey to accelerate topline growth.”
Those principles of accelerating topline growth are baked into our full funnel growth marketing philosophy. We provide the tools that can enable marketers to become recognized as drivers of revenue growth (point #1 of the HBR “5 Ways …”), establish the growth agenda as the rightful domain of marketing (point #2), break down organizational silos, and report their results to all of the stakeholders in the C-suite.
As a growth marketing consultancy, TrueVoice's full funnel approach is a total shift in how marketing works, a dramatic shift that enables organizations to take control of the levers that transform marketing into a revenue center.
Our objective is to drive change and create value for all of our clients. To that end, we help orchestrate the close team collaboration that harnesses the complete range of marketing capabilities to increase the impact of every campaign. We make this transformation as painless as possible by looking at each company’s existing marketing and organizational assets and then working in partnership with them to implement the steps needed to break down the silos and connect the sales and marketing dots inside the organization. By aligning people, processes, and technology, we seek to innovate prospect targeting and enable the rapid transformation of data into precise messaging and content to accelerate lead-to-revenue conversion.
It is imperative not to forget that creativity must be employed to turn prospects into customers by nurturing them at every stage of their customer journey and at every stage of the funnel. Powered by our proprietary audience access to 145 million consumers, billions of data points, artificial intelligence, and machine learning capabilities, our innovative approach is specifically designed to identify the best prospects for our clients. But that’s only the start. We translate this newfound real-time knowledge of their journeys into dynamic audience profiles and live prospect journey maps. This innovative targeting is used to engineer and optimize scalable, replicable multi-channel campaigns and experiences with precise messaging and content to engage, nurture, and convert into measurable revenue growth.
Marketers in 2022 must drive change and create value as fast as they can to meet the needs of the C-Suite, which is increasingly looking for accountability and proof of performance. Only 34% of CEOs have confidence in their CMOs, according to a report from the Marketing Insider Group. Just like CEOS, CMOs must see business growth as their imperative, and they must grow revenue – and report on it with metrics that the C-Suite understands. All of this is possible – fast -- through full funnel marketing.
Ready to grow? Find out how to get started at TrueVoice.