What it Takes to be a True Marketing Leader and Innovator
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Kathy Button Bell, CMO of Emerson, spoke at a BMA NEO event on Sept. 11, 2013. She presented on the changing state of B2B marketing and how to adapt to succeed.
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What it Takes to be a True Marketing Leader and Innovator
- 6. Kathy Button Bell @Emerson_News @Emerson_KathyBB WHAT IT TAKES TO BE A TRUE MARKETING LEADER AND INNOVATOR
- 7. KEY TAKE-AWAYS MARKETERS TODAY FACE AN ASTONISHING AMOUNT OF CHANGE: THE ROLE BROADENS DAILY AND NEW SKILLS ARE NEEDED CONSTANTLY. YOU ARE NOT ALONE IF YOU FEEL OVERWHELMED BY THE CHANGE AND FEARFUL OF THE INCREASED PRESSURE TO DO MORE WITH LESS. TO SUCCEED, CMOS MUST EMBRACE A NEW, INTEGRATED AND INSPIRATIONAL VISION AND WORKING STYLE, BOTH INTERNALLY AND EXTERNALLY. Kathy Button Bell Vice President, Chief Marketing Officer, Emerson What it Takes to be a True Marketing Leader and Innovator N= 117 CMOs and Senior Marketing Leaders
- 8. MARKETERS ARE DAZED AND DAZZLED BY THE RELENTLESS PACE OF CHANGE. “ “
- 9. PACE OF CHANGE EXPECT THE PACE OF CHANGE TO ACCELERATE 97% SEE A NEED FOR RESPONSE TO NEGATIVE NEWS WITHIN MINUTES 90% ARE DOING THINGS THAT AREN’T TRADITIONAL MARKETING 85% N= 117 CMOs and Senior Marketing Leaders
- 10. PACE OF CHANGE FIND THAT LEADERSHIP JUDGES SUCCESS OR FAILURE FASTER 76% FEEL OVERWHELMED BY CHANGE 34% N= 117 CMOs and Senior Marketing Leaders
- 11. MANAGING SOCIAL KEEPS US UP AT NIGHT. NEW SKILLS ARE DESPERATELY NEEDED. “ “
- 12. NEW SKILLS NEEDED SEE A DRAMATIC INCREASE IN THE BREADTH OF SKILLS NEEDED 97% ARE CONCERNED ABOUT BRAND INTEGRITY AND EXECUTION IN SOCIAL MEDIA 70% ARE SEEKING YOUNGER EMPLOYEES WHO UNDERSTAND THE NEW TECHNOLOGIES 60% N= 117 CMOs and Senior Marketing Leaders
- 13. NEW SKILLS NEEDED CAN’T FIND PEOPLE WITH THE RIGHT SKILL SETS 45% ARE FINDING IT IMPOSSIBLE TO FILL IMPORTANT POSITIONS 28% SAY THE SKILLS FOR WHICH THEY WERE HIRED ARE NOW OBSOLETE 21% N= 117 CMOs and Senior Marketing Leaders
- 15. OUR ROLE IS EXPANDING… BOTH OUTWARD AND UPWARD. “ “
- 16. BROADER ROLE ARE DOING THINGS THEY’VE NEVER DONE BEFORE 97% SEE MARKETING’S INPUT BEING SOUGHT MORE OFTEN 87% ARE HAVING GREATER INPUT ON CORPORATE STRATEGY 78% N= 117 CMOs and Senior Marketing Leaders
- 17. BROADER ROLE HAVE A SEAT IN THE EXECUTIVE ROOM AND DECISION PROCESSES 77% ARE SPENDING MORE TIME IN FRONT OF THE BOARD 56% N= 117 CMOs and Senior Marketing Leaders
- 18. THERE’S ALWAYS PRESSURE TO DO MORE, BUT THE BUDGETS AREN’T KEEPING UP. “ “
- 19. BUDGET STASIS HAVE NEW AND/OR DIFFERENT RESPONSIBILITIES, BUT NO CHANGE IN BUDGET 89% FIND ANNUAL BUDGETING “CHALLENGING” 56% N= 117 CMOs and Senior Marketing Leaders
- 20. SO, WHAT IS A CHIEF MARKETING OFFICER TO DO?
- 21. WE’RE LIVING AND WORK IN BETA. “ “
- 22. Instead of PRODUCT Source: Harvard Business Review, January-February 2013 RETHINKING THE 4 P’S by Richard Ettenson, Eduardo Conrado, and Jonathan Knowles Instead of PLACE Instead of PRICE Instead of PROMOTION Focus on SOLUTION Define offerings by the needs they meet, not by their features, functions, or technological superiority. Focus on ACCESS Develop an integrated cross-channel presence that considers customers’ entire purchase journey instead of emphasizing individual purchase locations and channels. Focus on VALUE Articulate the benefits relative to price, rather than stressing how price relates to production costs, profit margins, or competitors’ prices. Focus on EDUCATION Provide information relevant to customers’ specific needs at each point in the purchase cycle, rather than relying on advertising, PR, and personal selling that covers the waterfront.
- 23. BECOME THE CHIEF COMPLEXITY REDUCTION OFFICER: DESTROY SILOS
- 24. 1999 EMERSON $14.3 Billion in revenues with over 60 businesses
- 25. 2012 EMERSON: A LEADER IN ITS CORE GLOBAL BUSINESSES AND MARKETS $7.9B $5.2B$6.4B $3.8B $1.9B
- 26. HUMAN-CENTERED DESIGN DRIVES SIMPLICITY AND USABILITY Design language reflects Emerson’s improving high tech image
- 27. BECOME THE CHIEF INTEGRATION OFFICER: DESTROY SILOS
- 28. SALES INNOVATION R&D EXEC MGMT STRATEGY HR COMM CUST SVC IT AGENCIES OPERATIONS INTERNAL TEAMS REDISTRIBUTING MARKETING TIME AND INFLUENCE N= 117 CMOs and Senior Marketing Leaders
- 29. IT ALL STARTS WITH LISTENING: DESTROY SILOS
- 30. MARKETING MUST CARRY THE CUSTOMER VOICE TO R&D DEFINE PAIN SOLUTION VISION SOLUTION VALUE Marketing MARKET RESEARCH IDEA GENERATION CONCEPT FEASIBILITY CONCEPT DEVELOPMENT & PROJECT PLANNING DESIGN & DEVELOPMENT RAMP UP LAUNCH & PRODUCTION START-UP PRODUCTION
- 31. EMERSON MARKETING LAUNCHES NEW INNOVATION MODEL DRIVING ORGANIC GROWTH New-to-the- BUSINESS New-to-the- WORLD MINOR Revisions MAJOR Revisions
- 32. MARKETING AND SALES MUST CLOSELY COLLABORATE: DESTROY SILOS
- 33. CHANGE OUR TRADITIONAL SALES APPROACH Lots of “show and tell” focusing on our products and what they do
- 34. 1. Lead with question 2. Lead with hypotheses 3. LEAD with insight MARKETING CAN HELP SALESPEOPLE BECOME BUSINESS CONSULTANTS BY INCREASING SITUATIONAL FLUENCY Sources: Keith Eades and Robert Kear, Sales Executive Council 3 Generations of Solutions Selling 1. Don’t lead with information about the supplier 2. Don’t just lead with our unique selling principle 3. DO tell a story about their business that leads to our differentiators Commercial Teaching SALES Define PAIN Solution VISION Solution VALUE Access to POWER Control Buying PROCESS MARKETING
- 35. MARKETING’S MARRIAGE TO IT: DESTROY SILOS
- 36. BY 2017, THE CMO WILL SPEND MORE ON IT THAN THE CIO “ “
- 38. SOCIAL MEDIA: OUTCOME OF THE IT / MARKETING HOOKUP May 2013 Emerson.com YouTube Total video views on YouTube, a 127% growth YoY 89,400 Over 90 shares of content to date, increasing YoY by YoY and MoM: Year over year, month over month The Extra Mile Visits in May spiked vs. April following updates on social and paid media 37% Page views during May 2013 for the Homepage: • CHARMs 922 page views • Trellis 510 page views • Smart Wireless 399 page views • Intelligent Store 351 page views Facebook In May, interactions on Kathy Button Bell’s Facebook page increased by This is likely a result of increased posting during BMA Blaze and a higher volume of photos posted. Twitter @Emerson_Charlie interactions increased from 79 in April to 104 in May, which is roughly In addition, Charlie’s number of followers increased by @Emerson_News also saw a 23% increase in the number of interactions during the month of May. 32% LinkedIn In May, the page had the highest engagement (Likes, Comments, Shares) to- date with 578total interactions It’s Never Been Done Before Source: Webtrends tracking 161% 11% 109% 36,477page views Emerson Q2 Earnings on May 7, 2013 was the most active day of the month with 13,344 visits generating: 25% International visits increased 25% year-over-year from 53% in May 2012 to 66% in May 2013
- 39. MARKETING AND IT MUST COLLABORATE ON STRATEGY TO MEET BUSINESS DEMANDS Personalized Simple Immediate Predictive Always Available Emerson Marketing and IT Strategy Must be fast, secure and reliable Establish a framework that could scale across business to build ‘voice’ Collaboration Mobility Big Data Cloud Customer Expectations Technology Trends Business Initiatives Solution Selling Superior Customer Care Perfect Execution Enriched Business Models
- 40. BECOME THE CHIEF TRANSPARENCY OFFICER: DESTROY SILOS
- 41. Total Visits 23,305 Unique Visitors 12,659 Total Page Views 75,178 pages viewed per visit www.TheExtraMileWithCharlie.com 54% New Visitors 46% Returning Visitors 3.23 63% of visitors from U.S., 37% of visitors were international. Social Shares 52% of visits 33% of visits 13% of visits
- 43. BECOME THE CHIEF INSPIRATION OFFICER: DESTROY SILOS
- 44. WHAT IT TAKES TO BE A TRUE MARKETING LEADER AND INNOVATOR Kathy Button Bell @Emerson_News @Emerson_KathyBB
Editor's Notes
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