This is a great time for customer advocacy professionals! It is the age of the customer experience. Customer engagement is hot in the minds of marketing and sales. It is what now differentiates your company from the competition.
So what does all that mean for you? It means CMOs are adapting to these changes in both their marketing strategies and their reporting.
CMOs’ rank the importance of creating or enhancing the customer engagement function as #1 and #2 relative to their other goals. Sirius Decisions
Account-Based Marketing (ABM), Customer Marketing and Customer Advocacy are becoming common roles within the Marketing organization in more and more companies. These teams align their customer engagement strategies with each other as well as Sales and Customer Success teams. Together, they are the main drivers of the customer experience.
CX: The Hot New Metric on the CMO Dashboard
The newest CMO dashboards now incorporate metrics beyond just demand generation and brand health. CMOs are aligning their teams more with Sales and revenue-based metrics to monitor Marketing’s business impact. If your company is investing in account-based marketing, customer marketing and customer advocacy programs, you must track the value of those efforts and make sure those metrics align with the CMO’s goals and revenue goals. Let’s focus on some customer advocacy metrics with real life examples that ensure C-level visibility and earn a spot on the CMO dashboard.
Revenue Influence + Program Growth Metrics
Dawn Miears, Global Customer Reference Manager at Rimini Street, makes sure the metrics she provides for her executives showcase business impact, not just program-specific tactics.
The better the collaboration and the integration of tools used between the Marketing, Sales and Customer Success teams, the easier it becomes to facilitate powerful end-to-end reporting data. As a result, customer advocacy programs receive greater visibility as being a valuable part of the overall customer engagement strategy and the more TRUST your metrics offer. To do this, you need synergy of your customer reference application with the sales CRM system to enable tracking reference use and participation as well as attributing revenue influenced of a customer reference to a specific sales opportunity.
At Five9, the VP of Marketing reports on the metrics at the monthly VP Meeting, which is also attended by the CEO.
How to Get the Metrics You Need
First and foremost, having the right tools in place will allow you to track and report on the most important customer advocacy metrics you need to showcase at an executive level. For those that use RO Innovation, the solution goes beyond integrating with just the sales CRM. The RO Platform also integrates with the full range of Marketing and Customer Success tech stacks, including tools like Marketo, Influitive, Gainsight and many others. Programs that excel today are ones with this best practice tech stack alignment. As a customer advocacy professional with the right tech stack, you can provide even more metrics that impact your business such as leads and opportunities from customer-created content.
The most successful customer advocacy programs are those that align their goals with those of the CMO. And today’s CMOs are aligning their goals to metrics that impact the business. Deloitte reports in its CMO Survey 2017 that marketers will spend 376% more on customer experience analytics. This statistic could mean more dollars spent on your customer advocacy technology needed to report program metrics and earn you a spot on the CMO dashboard.
For more information on how RO Innovation can help you with your customer advocacy and customer reference needs through technology, please go to www.roinnovation.com.
Content provided by Zoe Meyer, Founder and Managing Director, customer-360