The New Business Dingo

At Catapult New Busness we're always interested perspectives from agencies. The following post is by Robyn Freye of Geary Interactive and provides some solid insight above and beyond Sales 101 to consider when formulating your new business outreach program.

As marketing strategies and tactics have evolved and budgets have diminished, chief marketing officers have grown increasingly accountable for their digital budgets. There aren't any valid reasons for not keeping tabs on campaign performance, as ignorance is certainly not bliss. Accountability married with diminishing budgets means that CMOs must deliver unparalleled marketing results. Since most CMOs report directly to their company's CEO, expectations are tied to business performance, revenue and margins, long term digital strategies, and offline executions.

In short, CMOs need to be efficient and successful, and the companies marketing to them need to be equally on their game. Companies marketing to these ragged CMOs know they are one of the hardest personas to target. Time is a resource they don't want to spend listening to pitches from other marketers. After all, their own targets are sitting out there awaiting their messaging. Members of this persona group are savvy and know their business models inside and out. For those of us tasked with marketing to this elite group of marketers, here are a few tips to help you help them.

Stick to the basics
Keep your fundamental business and marketing strengths in mind before you reach out to CMOs. With a firm understanding of your objectives, it is easier to communicate with target CMOs. It's also imperative that you know your target audience. Messaging needs to be framed to address their needs -- not your pitch. If you cannot concisely express how your service or solution will solve their problems, you will not get anywhere.

As influential decision makers, CMOs are a common marketing target. Make sure you know where you stand relative to your competitors. This will help preempt any research the thorough CMO will conduct after meeting you, and it will help you present in terms that beat out your competitors. They are undoubtedly pitching the same people, so you should address your differentiators from the beginning.

While these tips are Sales 101, I find they're the first to be forgotten when staring at deadlines or after a stressful meeting.

Not all CMOs are created equal
Which companies and CMOs are you really targeting? Answering this question will eliminate a sizeable chunk of this elusive persona group (and it also makes marketing to them much easier). Knowing who your product or service appeals to will ensure that all communications support your value props. This point is a hard one for a business developer to digest. As an instinct, we would like to court everyone, but this does not make for an efficient sales department. Define your target CMO and focus efforts on building connections with them. By focusing on a more specific persona, you can conduct in-depth research about their needs and pain points. This will make your efforts more successful and help establish long-term relationships.

CMOs have a tough job
Your targets know all the tricks. Their entire job is selling their own message, so how can you prove the merits of your message? Success comes from understanding their roles, their needs, and how your service will make their jobs easier. It's not about selling Product XYZ; it's about forging relationships that keep the lines of communication open. These communication channels will make it easier to understand the inner workings of a target company, but most importantly it affords you the chance to market your message in a way that meets a CMO's need.

CEOs and CMOs have drastically different priorities, and while marketing success is a long-term process, CMOs are expected to deliver instant results. Appreciating a CMO's difficult role will alter how you approach a CMO. With his or her busy schedule, how can I present my message in a format that is easy to consume and will hit on that person's pain points? Asking yourself questions like this will ensure your message is tailored to address your targets' needs and not what you want to tell them. The difference between the two points of view is drastic, and acknowledging the disparity will make all the difference in your outreach.

Know your competition
According to the Bureau of Labor Statistics, there were more than 50,000 advertising agencies on record in 2008. That's my competition. In the advertising industry, publishers and agencies are going the extra mile to reach busy CMOs -- to the point that the top agencies in Belgium requested a change in industry-wide pitch processes. Reaching target CMOs through stiff competition requires creativity. Traditional means of earning attention no longer pass muster because they do not give CMOs a reason to pay attention. If their companies appreciate charity events, host one that fits with their corporate cultures. It doesn't matter how you do it, but find a connection between your company and your CMO. Find it and use that as a foundation for building a relationship.

Unsuccessful tactics
CMOs don't have the chance to read every newsletter or email that comes through their inboxes. If you deem email newsletters to be a viable outreach method, make sure you pay attention to frequency and content. Sending too many emails or frivolous ones that don't address a pain point is one of the fastest ways to increase your opt-out list.

Whitepapers are great for search engine optimization, but again, the average CMO will not read a long paper. They might pass it off to their managers or directors, but if the CMO is who you're after, keep content concise and to the point. They will thank you by actually reading what you send. The same goes for webinars. Keep them short and sweet because if you pique CMOs' interest, they will follow up.

Conclusion
You most likely will only have 5 to 10 seconds to get a CMO's attention. Long emails and cold calls will not do the trick. Lead with the benefit because CMOs are advanced marketers; stay away from the template jargon we read every day. Find your key strengths, build relationships, and identify ways to create value for CMOs.

Robyn Freye is director of business development at Geary Interactive. 

Post Highlights:
- Keep your fundamental business and marketing strengths in mind before you reach out to CMOs.
- By focusing on a more specific persona, you can conduct in-depth research about their needs and pain points. 
- Traditional means of earning attention no longer pass muster because they do not give CMOs a reason to pay attention.