Why Chief Customer Officers sit next to CMOs — Karen Budell // Totango

Show Notes

• 02:21
  Key responsibilities of a Chief Customer Officer

  Chief Customer Officers (CCOs) focus on driving customer outcomes and repeated success throughout the lifecycle. They oversee onboarding, customer support, and success management, driving retention, minimizing churn, and expanding company revenue.
• 04:42
  Collaboration between CMOs and CCOs

  CMOs and CCOs can form a partnership around knowing their knowledge of the customer. In this partnership, marketing focuses on customer acquisition, and CCOs focus on retention, increasing customer LTV, repeat purchases, and brand advocates who refer more prospects.
• 06:10
  Integration of marketing, sales, and customer success for business growth

  By integrating CS software with your CRM, teams gain a comprehensive view of healthy customer cohorts post-acquisition. When marketing, CS, and sales collaborate, it activates the flywheel for advocates to refer new customers, creating a revenue team for sustainable growth.
• 08:18
  Customer centric approach for collaborative success

  Aligning teams around the customer's business outcome serves as a guiding principle. By making customer-centricity the North Star, teams share a common language and approach, fostering collaboration and smooth handoffs across the entire customer journey.
• 09:31
  Measuring success for customer retention

  Research indicates that customers achieving measurable results stay six times longer than those who don't track them. It's crucial to repeatedly check how your products, services, and team support contribute to moving the needle on the customer's business goals.
• 11:24
  Taking a customer centric approach to growth

  Ultimately, the key is demonstrating the value of your product or service to help customers achieve their business goals. Growth today comes down to retaining, renewing, and expanding your existing customer base by helping them move the needle within their business.
• 13:39
  Balancing customer centricity and innovation

  Our existing customer base provides the signals on who we should be developing and innovating for. Though acquisition will always be crucial, it's equally important to expand and grow from your existing customer base for sustained business success.
• 16:03
  The partnership between the CMO and CCO

  This partnership informs product development and marketing strategies by leveraging customer insights and market data. Using customer feedback to innovate while keeping an eye on the market ensures the business adapts, providing value to both current and potential customers.
• 17:44
  Establishing customer advisory boards for business innovation

  Customer Advisory Boards offer vital insights into customer business goals, challenges, and resource allocations. This collaborative approach ensures that customer insights directly influence the innovation cycle and product roadmap.
• 20:04
  Creating a bridge between the CMO and CCO

  This partnership can be achieved via customer marketing initiatives like advocacy and data-driven growth strategies. Additionally, product marketing and community engagement are key areas for collaboration, fostering close partnerships between marketing and CS teams.