Hold Your Team Accountable To the Outcome with Josh Todd, CMO of SevenRooms

The Revenue-Driven CMO

This amazing guest is a driver of change who has over 20 years of experience leading both strategic and tactical Marketing efforts at companies like Staples, ConstantContact, Localytics, and Mindbody. Josh Todd is the CMO of SevenRooms and was named a Top 20 CMO by VentureBeat. Josh joined Host Chris Mechanic to break down how to prioritize your marketing spend in the current economy, why measuring outcomes is more important than measuring activities, and build support within the C-suite.

Takeaways:

• That idea you think you absolutely need to do, may not be as important as you think and there is still time to come back from the brink. For example, you might think that your company needs to go to the industry event, however, if you really look into it, you might realize it's less critical and that those dollars could be better spent elsewhere.

• In the current business climate, there's a focus on profitability over just growth, given that money available to borrow or invest is more expensive. Businesses and marketing leaders have to make hard decisions about where to invest their budget.

• As a business matures, it undergoes a natural cycle between the business experiencing growth and profitability. Because of current economic conditions, many marketers are feeling a strong swing toward needing to show profitability, which is behind the ever-present ideology of ‘doing more with less.’

• It's important to distinguish between measuring marketing activities (what you're doing) and measuring outcomes (what you're achieving) to ensure a clear understanding of how marketing contributes to the organization.

• When taking big swings or making significant changes in marketing strategies and tactics, it's crucial to have patience and remain committed to seeing the results over time. Short-term evaluations may not provide a complete picture of the efficacy of the new initiatives

• To gain the support of C-suite members who might not fully understand the nuances or expectations of marketing, start by building trust with colleagues at various levels within the organization, demonstrate value through smaller initiatives, and gradually expand.

• Effective marketing often depends on alignment with the sales team. It's essential to consider the sales organization's needs, strategies, and capabilities when planning marketing efforts. Find what you can do to work better with them and increase close-rates.

Quote of the Show:

• “The better you understand how you're driving your revenue and the better you understand where to test, the more opportunities you're going to have to take various swings.” - Josh Todd

Links:

• LinkedIn: https://www.linkedin.com/in/josh-todd-4b96742/

• Company website: https://sevenrooms.com/en/

Ways to Tune In:

• Amazon Music: https://music.amazon.com/podcasts/7334aa0c-702a-47aa-8c55-760fa2cf4dda/the-revenue-driven-cmo

• Apple Podcast: https://podcasts.apple.com/us/podcast/the-revenue-driven-cmo/id1638785560

• Spotify: https://open.spotify.com/show/1OCuYchAG8TlGv82YARRhy?si=60a093a194c64c17

• Google Podcast: https://podcasts.google.com/feed/aHR0cHM6Ly9tb3JlbWFya2V0aW5nLmxpYnN5bi5jb20vcnNz

• iHeart: https://www.iheart.com/podcast/263-the-revenue-driven-cmo-99614345/

• Listen Notes: https://www.listennotes.com/podcasts/3-minute-marketing-with-chris-mechanic-rdU1oESluqs/

• YouTube: https://youtu.be/TTOPygs-cRU

The Revenue-Driven CMO is sponsored by WebMechanix, the performance marketing agency that makes you smarter. Learn more at https://www.webmechanix.com/

The Revenue-Driven CMO is produced by Ringmaster, on a mission to create connections through branded podcasts. Learn more at https://ringmaster.com/