CMOs, It’s Time for Reinvention

May 17, 2024

NewtonX, EssenceMediacom, and Xerox explore the complexities and changes of the B2B CMO and how one marketing leader is leading that reinvention at Xerox.

The B2B CMO role has evolved far beyond the traditional realm of marketing, advertising, and brand management. As our research with EssenceMediacom, Adweek, and The Wall Street Journal revealed, today’s CMOs have CEO-level responsibilities, drive digital disruption and AI, and succeed through cross-organizational collaboration and orchestrating growth.

So, how exactly is this reinvented CMO role manifested within a company and changing B2B marketing?

In this conversation, Jackie Cutrone, CMO at NewtonX, and Kristin Gower, President at EssenceMediacom, talk with Deena LaMarque Piquion, Chief Growth & Disruption Officer at Xerox. 

“My team’s goal is the company goal, which is to deliver on reinvention. It’s to make sure that we have the right offerings for today’s marketplace, and that our clients are successful. Then it’s to make sure that we are setting ourselves up for sustainable, long term, profitable growth. We want to make sure Xerox is still relevant and profitable and in a leader position 100 years from now. And in order to do that, there has to be a very orchestrated shift here, right? We need to go from hardware centric to services led and software enabled, which is where the world is going.” —Deena LaMarque Piquion, Xerox Chief Growth & Disruption Officer

Outline

The Evolving Complexities of the B2B CMO Role (0:20) – The increasing complexity and high expectations of the CMO role, emphasizing the need for strategic alignment with business goals.

Xerox’s Strategic Reinvention and New CMO Responsibilities (01:22) – Deena’s role as Chief Growth and Disruption Officer exemplifies Xerox’s transformation towards a unified commercial strategy designed to thrive in a hybrid work environment.

CMO as Growth Orchestrator (06:13) – With an expanded remit, CMOs are now responsible for multifaceted, data-driven strategies and the ability to scale initiatives quickly and globally.

Breaking Down Silos to Drive Cross-Functional Collaboration (09:13) – Collaborative strategies, such as including key IT and data leaders in regular marketing meetings, build trust and unify efforts.

Making Customer-Centricity a Reality Through Unified Strategy and Data (14:02) – Aligning all departments towards a single goal by aggregating and democratizing customer data, making crucial insights accessible to all team members, fostering better customer understanding and engagement.

Tracking Brand Health and Customer Insights to Drive Growth (18:50) – Using brand studies and NPS surveys to understand strengths and focus areas, particularly targeting emerging decision-makers, to identify growth opportunities and refine engagement tactics.

Adopting AI in B2B Marketing (22:35) – Marketers are in phase two of AI adoption, focusing on advanced personalization and segmentation in B2B marketing, supported by a dedicated marketing AI council and early adoption of AI.

Moving Beyond Efficiency: AI in B2B Marketing (25:31) – The evolution of AI in marketing is moving from efficiency to growth-driving strategies, leveraging AI and machine learning for personalization and better client experiences. CMOs need to embrace AI, network, and experiment rapidly.

Aligning Brand and Demand Strategies for Proven ROI (29:18) – Aligning brand and demand strategies to connect marketing activities to business results, integrating funnel tactics and using both quantitative and qualitative ROI metrics for measurable outcomes.

Aligning Brand and Demand Strategies (32:50) – Brand health drives revenue. Using detailed playbooks to ensure brand and demand efforts are aligned and relevant, leveraging AI and data for targeted tactics and tracking KPIs throughout the customer journey.

Redefining the B2B Marketing Playbook with Emotion (35:05) – Adopting a more human and playful approach, using platforms like TikTok to engage younger buyers, and aligning with digital transformation trends for more relatable and impactful messaging.

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