Download - Tech Heads – The Sleepless CMO
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The Sleepless CMO
2 Welcome
House rules “Relax”!
@WeAreOctopusGrp #SleeplessCMO
Home House Reception Password: homehousewifi
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The Sleepless CMO
Agenda
1.30PM Introduction: Jon Lonsdale, CEO, Octopus Group
1.35PM The Sleepless CMO research overview: Billy Hamilton Stent, Director, Octopus Group
2.00PM Panel Q&A
2.30PM Drinks, more canapes and chat
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100 B2B Marketing Directors and
CMOs, with responsibility for
marketing budget allocation,
completed an interview
in March 2016
Research overview
400 key decision makers, responsible
for choosing and purchasing
products and services for their
companies, completed a survey
during March 2016
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46%
26%
28%
2015 IN 2015 THIS QUESTION GOT US THINKING…
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People have less time, but decisions are taking longer.
What keeps us awake at night? 7
We take longer
Less time
No change
How do you feel decision-making time in your organisation has changed over the last 18 months when it comes to buying products and services?
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The Sleepless CMO
Competitive changes and choice are driving delays in decision-making….
FACTORS THAT MAKE DECISION- MAKING MORE COMPLEX
41%
43%
45%
Greater choice of suppliers in the market
More sources of content to research / digest / consider
Greater choice of services / products offered by suppliers
Which of the following factors, if any, are adding time and complexity to the decision-making process?
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Base: Total (400)
What keeps us awake at night?
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Have you slept more or less
over the last 12 months?
35%
59%
6%
You are six times more likely to lose sleep than gain sleep as a UK B2B CMO
What keeps them awake at night? 10
Less
No difference
More
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¤ …Because of increasing competition in the market
¤ Competitive pressure from the global players has
increased the competition in the market
¤ Working late building new website, integrating more
dynamic content and numerous other things…
¤ I have been working constantly day in, day out
to find the right amalgam of data and creativity
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What keeps you awake at night?
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Open comment responses from CMOs
that stated they were
sleeping less in 2016
What keeps them awake at night?
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COMPETITIVE PRESSURES AS A DRIVER OF CHANGE
92% 30% 90% Competition in their market
has increased the pressure for their company to achieve its
commercial objectives
This pressure has increased significantly
They’re having to become more creative and innovative
to compete with other suppliers in the market
SAY SAY SAY
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Base: Total (100)
What keeps them awake at night?
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TOP 3 COMMERCIAL CHALLENGES IN 2016
51% Keeping pace with marketing innovation
Bringing new products and services to market
Changes in the competitive landscape
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57% 58%
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Base: Total (100)
What keeps them awake at night?
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DECISION-MAKING PRIOR TO DIRECT CONTACT
88% of buyers say they shortlist or even decide on a vendor before making contact with that vendor at least half the time
Why does choice slow down sales?
47%
41%
9%
2016
n Most of the time (at least 75% of occasions)
n Sometimes (about half of the time) n Occasionally (about a quarter of the time)
n Never
Base: Total (400) The Sleepless CMO
Mostly
Sometimes
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25%
26%
41%
40%
47%
40%
33%
27%
18%
2%
1%
1%
Deciding – validating final decision as to which supplier to use
Shortlisting – choosing potential suppliers to tender
Scoping – initial research into products and services
Why does choice slow down sales?
EFFECTS OF INCREASED MARKET COMPETITION
To what extent does a more competitive supplier market change the time spent on the following areas of the buying process?
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n Significantly increases (over 20%)
n Somewhat increases (by up to 20%)
n Makes no difference
n Decreases time spent
Base: Total (400)
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Base: Total (400)
CHALLENGES OF SUPPLIER COMPETITION
Top three challenges for buyers in selecting and onboarding suppliers in a more competitive market 37%
39%
48%
Market becomes too ‘noisy’ / overwhelming
Harder to distinguish between supplier propositions
Buying process becomes more time-consuming
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IN SUMMARY
Dramatic changes in competitive landscape are a key driver for CMO pressure.
Convergence of “services” and expanded portfolios of
offerings are creating new competitive threats – each
competitor creating more content, using more tech,
burning more time….
Why does choice slow down sales?
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MOST INFLUENTIAL AND STRONGEST AREA IN HELPING DRIVE SALES
What type of CMO are you?
37%
38%
25%
PERSONALLY STRONGEST
Which area do you feel is personally the strongest area of knowledge for you?
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n Technology / Digital knowledge
n Creative thinking
n Commercial / Financial awareness
Base: Total (100)
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52% 44%
4%
43%
52%
5% 16%
76%
8%
COMMERCIAL CMO CREATIVE CMO TECH CMO
What type of CMO are you? Have you slept more or less over the last 12 months? /Personally strongest area in CMO skillset
WHO GETS THE MOST SLEEP?
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Base: Total (100) The Sleepless CMO
n No difference n Less n More
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“I feel more stressed in my job than I did 12 months ago”
What type of CMO are you?
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“We are having to become more creative and innovative in order to compete”
68%
50%
46%
Commercial CMO
Creative CMO
Tech CMO
52%
37%
38%
Commercial CMO
Creative CMO
Tech CMO
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Base: Total (100)
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IN SUMMARY
Your marketing skillset significantly influences how you view the road ahead.
But how do these areas of marketing influence
the marketing function overall?
Why does choice slow down sales?
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CMO EXPECTATION GAPS
Gap analysis between factors
identified as being extremely
critical and levels of high
satisfaction with performance
for marketing 62% IMPORTANCE
40% SATISFACTION
PERFORMANCE GAP 22%
CREATING BUSINESS CASE FOR MARKETING PERFORMANCE
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01.
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INNOVATION / DIFFERENT WAYS OF THINKING
PERFORMANCE GAP 17%
44% IMPORTANCE
27% SATISFACTION
02.
27 The biggest gaps in marketing performance?
DIGITAL OPERATIONS / PLANNING
49% IMPORTANCE
24% SATISFACTION
PERFORMANCE GAP 25%
03.
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How can a seesaw help you sleep at night?
Competitive Challenge
Planning digital operations
Innovation
Creativity ROI
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LEVERS TO TACKLE THE COMPETITIVE CHALLENGE
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CMOs lose sleep over competitive pressures
that drive ‘more, more, more!’
CONCLUSION
Lack of differentiation and market convergence
confuses customers and delays decision making
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The solutions lie in marketing levers
that offer exponential value
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The Sleepless CMO
Conclusion
SIMPLE STEPS TO DREAMLAND
LOOK AT YOURSELF
LOOK AT YOUR BUSINESS
IDENTIFY YOUR LEVER
PRIORITISE THAT CHANGE
SLEEP BETTER
01. 02. 03. 04. 05.
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The Sleepless CMO
Joel Harrison Editor-in-Chief, B2B Marketing
Paul Gibson Regional VP EMEA,
Demandbase
Tim Hughes Social Selling
Pioneer
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