The Ever-Changing Role of Modern Marketing Executives with Inga Romanoff
Chris Nixon |
Marketing is always changing.
That has never been more evident than in the last 5-10 years.
This creates pressure on marketing executives to take on more responsibility, wear more hats, and deliver phenomenal rates of growth all at the same time. It’s a tough gig. And the turnover rates are increasing.
Why is there this amount of change and how can marketing executives stay on top of trends?
With 20 years of experience, Inga Romanoff is heavily involved in the marketing industry as a thought leader, and she even owns her own consulting agency, Romanoff Consultants. She has been on the tech side of things lately helping companies figure out their marketing tech stack and take their business to the next level. Her company is focused on creating growth and new capabilities for their customers.
Inga joined us for an episode of the Intelligent Marketer to talk about her company, how the role of marketing executives is changing, and what trends she sees in the near future.
Listen To Your Customers
Inga’s company is focused on medium to large sized companies, but in general, it’s less about size, and more about what the client is trying to do. Romanoff Consultants helps clients reinvent how they talk to their customers and prospects when upgrading tech stacks or making other major strategic changes.
They often champion modern marketing practices in industries that are used to moving slowly, such as financial institutions. Inga and her team look for executives that will partner with them and respect their expertise.
Romanoff Consultants specializes in intellectual support; the strategic capabilities side of things. They help roadmap strategy into actionable steps.
Whether they’re working more on strategic or technical projects they are builders, not cloners. They don’t take the cookie-cutter approach. . “It’s not about knowing everything. It’s about the ability to listen to the customer, figure out their goals, and help figure out the solution that works for them.” - Inga Romanoff
The Ever-Changing Role of Modern Marketing Executives
The term Chief Marketing Officer doesn’t quite describe all that goes into the role of a modern CMO. Many CMOs have to become Chief Growth Officers, often working with advertising, sales, operations, and more. They even can own part of tech budget, bleeding into IT.
They have to be able to speak multiple languages. Their responsibilities have increased dramatically. As a result, this job can be stressful and there is a lot of turnover. Expectations are higher, and results are expected real time.
Marketing executives have to make very educated guesses based on a lot of testing. They have to find the DNA for the right team that will support the goals of the organization; they must find real talent. This all has to be done with a spirit of transparency and they are expected to improve in real time, constantly.
“I think the results that are expected of chief marketing executives are beyond just revenue.” - Inga Romanoff
Modern Marketing: Meaningful Data
Spending time in meaningful data and creating stories with data is a difficult task. There is no shortage of data, but there is a shortage of meaningful insights gained from data. Inga believes that Artificial Intelligence can possibly help here.
Right now humans are charged with both analyzing the data and telling stories to customers surrounding that data. AI can take some of this work out of the equation so that marketers have more time to explain to customers the insight behind their data.
In the world of data, details can distract from the bigger picture. Drowning in data without insight is not helpful to customers, and it wastes time. It takes the right tech to analyze data, and it takes the right team to give insights to customers.
“We love data. Marketers don’t mind having rows and rows in Excel files. Making sense of it is a little more difficult.” - Inga Romanoff
Emerging Trends: Mobile, Tech Stack, & Video
Inga believes that one of the biggest trends in marketing that hasn’t been addressed yet is how we think about our phones. Not many companies have shifted to understanding how to reach people here.
If 85% of your audience is on mobile, you have to build a site for this. You have to be able to understand how and where your audience is opening your emails, how they’re interacting with your site, and how they’re searching for things.
Ingra also warns that your tech stack can quickly become obsolete in less than 12 months if you are not staying up to date with trends. This also includes her thoughts on Artificial Intelligence.
She knows the tech is not mature yet, but several solutions are already available; It’s not something far off in the future, it’s already here! She only sees that increasing, specifically in the world of Conversational AI that measures conversational data, such as in call centers across the country.
Finally, don’t underestimate the power of video in marketing. Few companies have a solid video strategy. Video is not a new trend, but it’s something that is continually overlooked. It won’t stay that way for long!
In terms of influences, Inga stands behind the importance of community. As an example, the Marketo Champion community has become a staple of the industry. It’s where people go with their toughest questions, and even to make some friends!
Inga’s company works in a narrow slice of the marketing industry where things are changing every six months in a dramatic way. The technology, people, and ways of doing business are all changing. If she wasn’t plugged into communities, she would get lost trying to keep up with everything herself.