A CMO told me the other day, "I know which customers are strategic to my company. My challenge is making my company strategic to those customers."
His comment demonstrates the shift in marketing that is currently occurring within high-tech and service companies. In these organizations the marketing function is no longer about awareness, brand or feel-good programs. It is a results-oriented entity enabling the relationships and market position necessary to increase customer value and drive revenue.
As a result of this shift, 2010 ITSMA research shows an increase in the following tactics as part of marketing strategies:
- Thought leadership development
- References and testimonials
- Senior level relationship management programs, customer advisory boards, councils
...and a decline in:
- Collateral (brochures, datasheets, etc.)
- Sponsorships of sports/Cultural events
- Print-based direct marketing
- Traditional print/media advertising
- Public trade shows
Source: ITSMA, Budget Allocations and Trends: Key Metrics Survey, 2010 www.itsma.com/access/research.asp
Has your company made the shift? If not, what's holding you back?