This is part 2 of the article on critical questions that CMOs should ask in their first 90 days. Here are the remaining questions to ask as you begin to evaluate the current marketing communications activities. These questions can help you formulate the strengths and weaknesses of the current activities as well as inspire ideas and direction for marketing plans going forward.
1. What is the state of the data?
Data is becoming essential to all marketing even in companies that didn’t traditionally have a more targeted approach to marketing. The reality is that data exists on a lot of different levels for most organizations. Aggregated data typically exists from a number of sources, including search marketing, social media and other digital channels. Individual customer and prospect level data can be extracted based on purchase, inquiries and other behavior. 
Understanding what your company knows about its prospects and customers on an aggregate and individual level is critical to architecting the optimal marketing communications strategy. Data is the key determinant on how targeted, tailored and personalized marketing communications activities can be executed. Additionally data drives channel selection.
2. Are we fully optimizing the channels we’re using?
Many marketers are utilizing a number of channels, but are these channels being leveraged in the most effective manners? Optimization might actually be an unsung hero. Companies spending more than 25% of their marketing budgets toward optimization are twice as likely to enjoy high conversion rates, according to a recent study conducted by Adobe.
According to the Adobe study, almost half of the survey respondents said testing is not a priority at their company. Budget and resources remain the two biggest challenges to testing.
I’d argue that generally most marketers are not optimizing their current marketing channels to the fullest extent. Marketing optimization comes down to applying best practices and testing various techniques to improve response.
3. Which campaigns, offers and incentives are in place to drive short-term sales?
Short-term results are usually critical to a CMO’s longevity. While most CMOs are hired to focus on the “big picture,” there is value in balancing that focus with delivering in the short term.
Offers and incentives are one of the most critical levers that can impact campaign performance. More often than not, offers and targeting will define the success or failure of a marketing communications effort. Reviewing campaigns, the associated offers and incentives is worthwhile and generally a focus that will provide a payback. You’ll probably get more mileage out of analyzing this aspect of existing campaigns over creative, messaging and some of the more cosmetic aspects.
4. What marketing technology is currently available?
Marketing automation and technology are essential enablers in marketing today. Review what technology the enterprise currently has invested in to support marketing activities. This should include strategic technology, such as database and analytics software, as well as operational technology, such as email and web platforms.
This assessment can help you understand how work gets done. Understanding how work gets done currently is essential to understanding how quickly you can move with certain new initiatives. Technology and infrastructure are leading factors in guiding executional realities and barriers that might need to be considered.
5. Do I have the right agency partners to move forward?
Ultimately, successful CMOs surround themselves with strong resources internally and externally. Marketers are demanding more out of their agencies. Marketing leadership expects agencies to understand best and next practice techniques that can positively impact their marketing objectives.
Topics: CMO
