Monday, August 22, 2011

Why CMOs are now Chief Revenue Officers

While the title of this article is borrowed from a wonderful and inspiring article by Dennis Yu, the article is really about what we are trying to do at AaramShop and how we are working towards evolving the role of the CMO, who is predominantly an expense head, into that of a revenue head.

It is a fact the the CMO and his team are responsible for the brand, it's recall and it's salience, however, while in the past it made sense for a brand manager to stop at that function - with the evolution of media and it's consumption patterns by consumers, the role of the brand manager of yesteryear has to undergo a sea-change as well.

Traditionally the brand managers role was focused on "awareness" while the last mile was really the focus on the sales and logistics personnel. AaramShop is a unique platform where the "awareness" / "search" / "conversations" (zero moment of truth) has been seamlessly integrated into "purchase" / "re-purchase" / "loyalty" / "recommendation" (1st moment of truth). This seamless integration of the two moments of truth enables a brand marketer to play the role of a sales head and the reverse is true as well.

The brand manager will find all "awareness" oriented touch-points are available on AaramShop, e.g., category advertising, social network integration, alignment along the path of purchase etc. and he/she would also find that all these touch-points are focused at changing the consumers' casual browsing behavior to online purchase - which is leveraged via the existing channel partners and the independent neighborhood retailers.

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