Monty Sharma wrote an article titled Jenny Craig CEO: 3 lessons I learned about marketing after taking on the CMO role. « After Jenny Craig CEO Monty Sharma added interim CMO to his title, he shed a few misconceptions he had about marketing. »
« 1. Cost of conversion is not your most important metric… Instead of focusing only on lower funnel digital initiatives to drive conversion, such as brand search, we optimized for digital across the whole consumer journey — from awareness all the way through sign up. By focusing long-term relationships instead of on short-term conversions, we’ve actually grown our appointment rate (conversions) by about 30%. »
« 2. Marketing is critical in shaping the business — not just campaigns… What started out as a marketing exercise has helped shape our product offerings and business model. Since the launch of the Rapid Results program, we’ve seen a 20% increase in new subscribers and company revenues are up 10%. »
Clearly he means what started out as a promotion exercise, as in the 4 Ps of marketing: product, price, promotion, place.
« 3. Marketing technology isn’t solely the purview of the chief information officer… Our cost per acquisition went down 58% when we automated our bidding. »
Isn’t this like saying the accounting system isn’t solely the purview of the CIO. Of course it isn’t.