Business these days is about speed. And the best way generating speed is by fostering a spirit of collaboration across your internal and external teams. Enhanced cooperation drives efficiencies that scale and last across the enterprise, with I call “Total Impact.”
Thinking “Total Impact” has become the mindset for the next generation of marketers. For instance, in an Accenture study, 90% of businesses consider the CMO the connective tissue between different lines of the company. They are completely engaged.
These CMOs have set a new standard of “Collaboration Leader” whose chief responsibility is advocating the voice of the customer and energizing teams toward meeting customer needs.
For many firms in the early stages of their transformation process, a substantial first step is to optimize what you have instead of creating a total overhaul to shape your future vision.
A few of my favorite KPIs can be improved right now within most firms but require a collaborative leader who can put it all together. Here’s my top five:
- Are you deploying more authentic and compelling campaigns, aided by chat and chatbots, that drive down your call center’s average call times and increase satisfaction scores?
- Are you optimizing your sales channel mix from expensive ones, like affiliates, and more towards organic sales channels?
- Is your product positioning promoting more value to your customers, resulting in increased lifetime value with your customers?
- Does your UX/UI team have the persistence to create fresh customer experiences that excite and reduce customer churn?
- Are your digital tools driving more efficient workflows, so you are generating more revenue per employee?
Gains here generate confidence and momentum for more dramatic improvements.
Prioritize and Improve
The list of areas to improve does not stop there. The road runs hard and runs long, but it always starts with two fundamental questions – how can we do better? And how do we prioritize?
You can have a more significant impact on the business if you can identify an area that is struggling and get a 25% improvement than pick an area doing great and fight to improve a few percentage points.
From an HR standpoint, it costs a lot less to upgrade the skills of your current team than start the massive investments in attracting new talent to tackle new areas of your business without the benefit of context and strategy in these new areas. Finally, from a cultural standpoint, your team will get inspired by your efforts to improve from within first.