The Role of Modern Agencies for CMOs and ROI

The Blog

Geile/Leon Marketing Communications

The Role of Modern Agencies for CMOs and ROI

In the life of a CMO, addressing consumer “pain points” is among the most thought and talked about of day-to-day responsibilities. CMOs are being challenged to have their finger on the pulse of the customer. But, who’s looking out for the pain points of CMOs themselves? That’s the role that forward-thinking agencies need to assume in the modern age of marketing.

According to a recent article from marketingcharts.com, pain points for CMOs include, among others, disconnected messaging at different points in the sales funnel and increased pressure to prove marketing’s worth via ROI metrics. But for many CMOs, the ad agencies and marketing partners they rely on to help, are not being charged with helping move customers from awareness, to consideration, to purchase. Each respected agency focuses exclusively on messaging for isolated stages of the marketing funnel and can’t actually help CMOs effectively do their job.

When an agency and the campaign they develop, have an enterprise-wide understanding of the business and work closely with the CMO throughout the entire process from consumer interest to customer loyalty, what used to be pain points is now an effective brand experience for the consumer. And in cases where multiple agencies are being used by a client, it’s imperative that the effort for brand awareness, consideration, and purchase campaign are coordinated in terms of consistent brand messaging.

But according to a recent CMO survey conducted by Duke University, effective CMOs can take it a little bit further – and modern agencies can help. With today’s abundance of available data, it’s no longer enough for CMOs and agencies to analyze only the end result. They need to utilize ROI metrics throughout the entirety of the consumer decision process in two major ways. First, ROI metrics give valuable insight into what marketing efforts are and aren’t working, so you can adjust the messaging accordingly. Second, ROI metrics give CMOs a huge leg-up in being able to not just communicate, but quantify just how valuable marketing is to their business, helping to earn more confidence and budget allocation for their department.

Effective agencies don’t just advertise, they partner with CMOs to market their clients’ business and move consumers through the sales funnel. We call it full-funnel marketing, but you can just think of it as a whole lot of pain relief.

Full-Funnel Marketing: What CMOs want from their Agency Partners

The Blog

Geile/Leon Marketing Communications

Full-Funnel Marketing: What CMOs want from their Agency Partners

Today, marketers and CMO’s are looking at the digital marketing landscape and heavily investing more and more ad dollars to reach audiences. Expectations are high for getting the results, data, metrics, marketing analytics, traffic, engagement, conversions and ROI, and marketing managers and CMO’s are being held accountable. And we believe as their partner, we should be held to the same standards.

According to a 2017 CMO survey, big organizational capability gaps identified by marketing leaders are highest in customer development and engagement and marketing analytics.

Today’s marketers want a fully integrated approach that takes customers through the buying journey from awareness, to consideration, to engagement, to purchase, to loyalty. That’s what Full-Funnel Marketing is all about.

The Full-Funnel Approach

Full-Funnel Marketing is a holistic approach that not only reaches an audience at the top of the funnel, but continues to follow the customer all the way down the funnel to purchase, engaging and nurturing customers each step of the way. Using the data available, we are able to tailor messages delivered throughout the entire purchase decision.

 

 

At the top of the funnel, our goal is to generate favorable brand awareness and help customers understand your brand’s unique position in the market. Through advertising both in digital and traditional landscapes, as well as social media and public relations, we communicate what makes a product or service unique and why your customers should care.

In the lower end of the funnel, it’s all about educating, influencing and engaging customers with your brand. We nurture customers along the way, by giving them the information and resources they need to make an informed purchase decision, while providing marketers/clients a highly targeted prospect list that are ready to convert and make the purchase of your brand.

Finally, it’s up to us to convert these customers into loyal customers and brand ambassadors through retention, loyalty programs and follow-up communications. These are the customers who will write favorable reviews and become advocates for the brand.

Why is it important?

Consumers are heavily influenced in their purchase decision by online reviews, recommendations, social content, etc. They have access to more information about a product or service at their fingertips during each phase of the purchase decision.

It’s critical that marketers use the Full-Funnel Marketing approach and reach customers through multiple platforms both early on in the buying process, and at each stage thereafter. Investing in brand awareness marketing in the upper funnel will keep your brand in the minds of customers even when they aren’t actively considering a purchase.

In a digital age that sees potential customers researching products and brands long before making first contact, it’s no longer enough for marketers to simply focus on consumer awareness of brands and products available to them. Effective marketing in today’s world follows the right customer with the right messaging from awareness to consideration all the way down to purchase decision and thereafter. That’s the Full-Funnel Marketing approach.

Check out the video below and download a free copy of the Full Funnel Marketing Guide.

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