What can a Chief Marketing Officer teach a Project Manager?
A marketing director is an executive who leads the development, marketing and positioning of a company’s products. They are responsible for ensuring that their company has a strong brand and sufficient market share to meet the company’s business objectives. A project manager needs to know exactly what is required of different stakeholders to ensure that projects run smoothly and on schedule. This includes customers, employees, suppliers, investors and other members of the organisation. A marketing manager must not only be able to develop a strong brand identity for their company, but also understand how all of these different project customisations may effect the products or services being offered. This can help them develop more effective marketing strategies for the success of their company.
Track and Measure Project Progress
One of the most important things a Chief Marketing Officer learns is how to track and measure the impact of their ideas on the world. It’s important to know what works and what doesn’t. A Project Manager can learn from these fuzzy metrics to improve their own tracking and planning skills. If you recognise them soon, they won’t have as much of an impact on the whole project later on. You can also use this information to ensure that each phase of the project is carried out as scheduled. This allows you to avoid potential delays or setbacks later in the process. With this knowledge, you can easily adjust your plans as needed so as not to jeopardise the completion date or quality standard of the project.
Strategy and strong business cases
A CMO must be able to create a solid business case for their projects. This could include a convincing argument that the project will have a positive impact on the company’s bottom line or bring benefits to the end customer. A CMO needs to formulate a strategy that aligns all the departmental roles and responsibilities towards that goal. A project manager should try to understand the underlying logic behind this business case. In addition, it is important for a project manager to understand their company’s strategies and how those strategies are geared towards winning in the market. Many companies are committed to digital marketing as a strategy and as a means to promote their brand. When creating a digital marketing strategy, it’s important for project managers to understand not only why they need to create one, but also how implementing that strategy will have a positive impact on the company’s success.
Defining ROI for the Project
The key to successfully completing a project for a CMO is to determine the Return on Investment. This involves identifying the costs, time and resources needed for the project, and then projecting those numbers into ROI. Each project has its own requirements, so it’s important to break down each requirement separately to ensure that the ROI is calculated accurately. For example, a type of project may have long-term objectives that are very difficult to quantify. If you can’t determine the ROI of a marketing project, you can ask marketing stakeholders, who are very familiar with the project, to help you calculate the project. Remember, it’s better to be informed than not!
Co-ordinate and communicate between different teams and stakeholders
As project managers, we often have to communicate with different teams and stakeholders. Chief Marketing Officers are master communicators. They are often tasked with managing the internal and external communications of your company. Similarly a Project Manager needs to coordinate and communicate between different teams and stakeholders such as marketing, sales, legal, and finance. You will be responsible for ensuring that all involved parties are on the same page throughout the process. The CMO will advise you that the ideal time to do this would be before you start a new project or idea so everyone knows exactly what they are getting into from the beginning. If there is any confusion or change in direction during the course of a project or idea then you can reach out to those involved for feedback or guidance. If a co-ordination issue arises between two departments then you will often see a CMO talk about it directly rather than sending an email – this minimises confusion and misunderstanding while maintaining professionalism by keeping their message focused on the task at hand.
A CMO creates 360-Degree Brand Awareness Campaigns
As mentioned, a great CMO makes an excellent strategist. They’ll create a 360-degree brand awareness campaign that includes paid advertising on search engines such as Google AdWords and social media sites such as Facebook Ads or Twitter Ads. A successful 360-degree brand awareness campaign is designed to put your company’s brand in front of your target audience and increase sales and leads. However, the key to success is to ensure that all departments work together. A project manager can learn from this 360-degree vision and align their projects in a similar way to gather external feedback while building internal alliances.
Conclusion
A company’s CMO can have a tremendous influence on the success and failure of a brand. The CMO’s responsibilities are broad. They must be master communicator and uncover feedback in noisy and uncertain environments. A Project Manager will do well from learning from them.
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