The ever-increasing industry pace, pressures of competition and the rising expectations of investors and customers are having an effect on the marketer as they are asked to make smart investments without obtaining all the information. To continue at their peak performance, they must demonstrate a predisposition for action along with an ability to quickly alter strategies and learn. Expected to be change agents, but end up becoming at odds with internal and external stakeholders. Marketers want to make better decisions, make an actual difference, to be confident and to gain confidence in others but how can they accomplish that? – Be Fearless.
Fearless isn’t something that a marketer can do. It is something they become.
The fearless marketers you have heard tales of don’t have superhuman abilities that prevent them from feeling anxious. It isn’t about being fear-free but about overcoming fears. The next generation Chief Marketing Officer (CMO) is the one that is blazing a trail trying new and exciting methods to engage their prospective buyers. They aren’t afraid to be risk takers and passionately move forward with the goal of driving a greater business impact.
There has been a lot of talk about marketing technologies like across-the-board personalization and Artificial Intelligence marketing. But it has remained just talk with very little action from many organizations and all due to the fear of risk, failure and the unknown. But those marketers who are fearlessly taking the difficult decisions and taking measured steps in the right direction are getting their desired results.
There are five main fears that marketers must boldly eliminate if they care to stay relevant.
Most marketers integrate only 30% of their technology stacks which means that all the marketing technologies they have invested in see only a fragment of the overall picture which ultimately implies that the marketer also sees only a fragment of the entire picture.
- There is immense pressure put on marketers to pick the right technologies within an ever-shrinking budget. This causes a genuine fear of making a costly mistake.
- Marketing technology is constantly changing and marketers find it hard to keep up with the new tools that flood the market and by the time it actually gets used, it gets outdated.
- The relation between IT and marketing is unsteady as marketing views IT as a barrier to innovation and IT views marketing as reckless and incapable of making good software decisions.
- Marketing needs to restructure into more practical disciplines that include strategy, innovation, process, and change.
- Marketers need to learn from other industries the method to mastering customer experience.
- Marketing teams need to divide into innovation and implementation branches where the innovation team can operate with the sole mission of generating and testing experiences while the implementation team can build on those ideas.
There is a constant fear that all B2B marketers feel; how to reach, engage, qualify and convert audiences into paying customers. To add to this pain is the need to not only reach the right decision makers but to also get them all on the same page. When looking to adopt ABM, marketers believe that they need to do a complete overhaul of their existing marketing system and this incites even more fear.
Implementation of ABM isn’t frightful and marketers can reap a lot of benefits with the use of an ABM strategy and all it requires is a shift in focus and strategy. We have the ultimate guide to ABM, check it out.
Marketers are fraught with fear over letting a machine control the narrative. They fear that emerging technologies, apps and various innovations will disrupt the way they have been doing their marketing.
Artificial Intelligence is more a friend than a replacement of human marketers. As marketers collect a great deal of data, an AI will use that data as fuel for progressing any marketing strategies. The marketer will not need to waste time cleaning up data as the AI will be able to process data in a more fast and efficient manner. This will help in answering various natural-language questions based on data trends.
This is an unfounded fear among various departments in a company that they will lose their turf if they work in partnership with other departments, having a belief that they need to be first among their peers. This fear keeps the marketer from influencing all customer touch points in their end-to-end journey.
Everyone that is involved in a customer’s journey, need to abandon all their fears and work as a single unit. The marketer is still the one who needs to take the lead and ensure the different departments enter into a partnership that aids in a successful end-to-end customer engagement. They need to be the loudest, most efficient, and most impactful.
Due to growing complexity, unyielding financial pressure, and an ever-challenging economic environment, marketers are filled with fear when it comes time to prove the worth of their marketing strategy.
The digital world has made it possible to analyze a marketer’s contribution to the pipeline and overall revenue of the company which helps in defending marketing value. Now, marketers can even seek out tools, measurements and analytics to not only defend the marketing budget but to even get a skeptical board of directors to increase the marketing budget.
The capacity to be a fearless marketer is in all of us and the tools to support you is also available. All that is required is the will to act. A fearless marketer is courageous, a risk-taker, accountable, curious, non-judgmental, resilient, and coachable.
The performance struggles, management of changes and collaboration with IT are legitimate fears. Once marketing evolves, it will be dividing these challenges into discreet and manageable bits which will allow innovators and implementers to co-create for better marketing technology experiences.