My first role as a CMO saw me take ownership of the traditional 'go-to-market' responsibilities: strategy, pricing, promotion, brand, and communications. I built a team that supported those goals, and we set off in pursuit of driving demand for our products and services.
We were successful too, tripling lead creation, building more pipeline than the company had ever seen before, winning new logos, and helping the business achieve double-digit growth. However, we stayed in our swim lane, even in the face of clients and market analysts telling us our products were falling behind. We drove the demand generation engine full throttle, regardless of whether we were addressing our clients' needs in a way they expected or wanted in the future.
We pushed harder. Squeezed every dollar, were ruthless in our targeting and execution, kept the results rolling in. Until they didn't. Our demand was still rising, but our sales bookings weren't keeping pace. Our competitors were gaining and passing us. We were getting bloody noses in fights we used to win.
At that time, product wasn't 'owned' by marketing. It was outside my swim lane. Perhaps comforted that we were hitting our functional goals better than ever, I had failed to speak loudly enough or fight with enough conviction that our product needed to change. We were helped by the addition of a great chief product officer who thankfully asked the difficult questions that changed our course as a company. However, that experience changed the way I thought about marketing.
Great salespeople are often cited as being able to sell anything to anybody. Perhaps, but that line of thinking does not work for marketing. Great marketing is understanding your customers deeply, with enough insight and empathy to know when you've got great product-market fit, or if you're not meeting their needs. Starting with product (whether I officially 'own' the remit or not) is crucial to long-term success.