Introduction
Zoe Harris, CMO of On the Beach, has been a member of the company’s executive board for over a year, garnering critical knowledge about the significance of communicating with stakeholders and comprehending investor viewpoints. In her capacity as CMO, Harris has concentrated on closing the gap between marketing and executive leadership. Her elevation to executive director in October 2022 has enabled her to adopt a broader perspective of the company and its long-term potential. Under Harris’ strategic guidance, the organization has experienced continued growth in marketing effectiveness and overall business performance. As an executive director, she is now able to leverage her marketing expertise and understanding of investor relations to drive forward the company’s vision and create sustainable value for all stakeholders involved.
Marketing and finance collaboration
At a recent Festival of Marketing’s Currency of Effectiveness series event, Harris and CFO Shaun Morton discussed the value of establishing solid connections between marketing and financial departments. They argue that the optimal strategy for a marketer is to illustrate how they can enhance the organization’s overall performance. The event emphasized the necessity for open communication with stakeholders and the importance of providing a compelling argument for investment in marketing endeavors. By forging strong relationships between these two departments, businesses can gain better insight into the effectiveness of their marketing campaigns, ultimately leading to more sound financial decisions. By bridging the gap and fostering collaboration, both marketers and finance professionals can work in tandem to achieve shared goals and drive company growth.
Wider perspective on marketing investment
Additional industry insights include Unilever CFO Graeme Pitkethly’s statement that marketing investment returns should not be assessed solely on the basis of volume sales growth. He emphasized the importance of considering factors such as brand equity, customer loyalty, and long-term market share when evaluating marketing investment outcomes. Furthermore, Pitkethly urged businesses to adopt a more comprehensive approach, taking into account the qualitative aspects of marketing performance to better inform decision-making and optimize strategies.
Co-op’s shift in customer experience strategy
In addition, Co-op is shifting from its rewards-based program to offering exclusive discounts as it seeks to improve the customer experience. This change aims to provide more valuable savings to customers and encourage loyalty to the brand. The exclusive discounts will be tailored to individual preferences, ensuring a more personalized and engaging shopping experience for Co-op’s patrons.
Online supermarket’s growth through targeted marketing
Furthermore, the online supermarket has witnessed an increase in active customers and volume growth due to a change in marketing tactics. This transition towards more targeted and effective marketing strategies has greatly contributed to the brand’s expansion and improved customer retention rates. Additionally, by utilizing digital platforms and social media for advertising purposes, the online supermarket has managed to reach a wider audience, ultimately leading to increased sales and overall growth.
Importance of project management in remote collaboration
In today’s world, where teams collaborate remotely, employing appropriate tools to streamline the creative process is crucial for executing efficient, timely marketing campaigns. One such tool that has gained immense popularity among marketing professionals is project management software, enabling seamless communication, file sharing, and progress tracking. By implementing a robust project management system, teams can work cohesively, ensure deadlines are met, and ultimately produce high-quality marketing materials that drive impactful results.
Harris’s impact on business success
Harris’s involvement on the executive board has undoubtedly contributed to cultivating a more extensive understanding of the influence of marketing on business achievements. His expertise in crafting strategic marketing campaigns has allowed for increased brand awareness and, ultimately, accelerated growth for many businesses. By consistently analyzing consumer behavior and emerging trends, Harris showcases the undeniable power of effective marketing in shaping a company’s success.
First Reported on: marketingweek.com
FAQ Section
What is the role of a CMO in fostering collaboration between marketing and financial departments?
A CMO should work towards establishing solid connections between marketing and financial departments, emphasizing open communication with stakeholders and providing a compelling argument for investment in marketing endeavors. This collaboration can lead to better insight into marketing campaign effectiveness and sound financial decisions.
Why is it important to assess marketing investment returns beyond volume sales growth?
Considering factors such as brand equity, customer loyalty, and long-term market share when evaluating marketing investment outcomes allows for a more comprehensive approach. By taking into account qualitative aspects of marketing performance, businesses can better inform decision-making and optimize strategies.
How is Co-op improving customer experience through its new strategy?
Co-op is shifting from a rewards-based program to offering exclusive discounts tailored to individual preferences. This ensures a more personalized and engaging shopping experience for its patrons, ultimately fostering brand loyalty.
What has contributed to the online supermarket’s growth?
The online supermarket has seen an increase in active customers and volume growth due to a shift in marketing tactics towards more targeted and effective strategies. Utilizing digital platforms and social media for advertising purposes has expanded the brand’s reach, resulting in increased sales and overall growth.
Why is project management crucial in remote collaboration for marketing teams?
Project management tools allow for seamless communication, file sharing, and progress tracking among remote teams. Implementing a robust project management system enables cohesive work, ensures deadlines are met, and produces high-quality marketing materials that drive impactful results.
How has Harris’s involvement on the executive board impacted business success?
Harris’s expertise in crafting strategic marketing campaigns has increased brand awareness and accelerated growth for many businesses. By consistently analyzing consumer behavior and emerging trends, Harris showcases the undeniable power of effective marketing in shaping a company’s success.
