Whether currently engaging in online commerce or contemplating such a move in the future, successful CMOs are realizing that their customers want a personalized, frictionless purchasing experience. Consumers seek agile interactions, painless fulfillment, and a memorable experience. CMOs are increasingly embracing a new priority: Identifying new and recurring revenue opportunities and optimizing the consumer experience to maximize customer lifetime value. The good news is that the global digital consumer is ready to spend. According to analyst firm Ovum, global consumer spend on digital content will increase from $76 billion in 2013 to $145 billion in 2018, doubling in a short five-year span.
Working in lockstep with CFOs, successful CMOs are implementing new strategies to price products and services, bill customers, offer seamless payment facilities, create new opportunities to retain customers, and grow recurring revenue streams – all while defining new business metrics to measure success in terms of customer lifetime value. They team with product management to identify new opportunities and even new products that meet their customers’ growing expectations for innovation, engagement and relevance.
To address these new mandates for digital marketing, monetization, and frictionless commerce and experience, the CMO Council will be hosting an online webcast (06/18, 10am PST/1pm EST/5pm GMT) to discuss and debate the realities of transforming organizations, strategies and revenue models and develop winning strategies to successfully navigate the online revenue maze. Vindicia, a subscription billing and recurring revenue leader that is driving the pace of the digital economy, will share expert perspectives, along with key questions that marketers must consider when building new digital revenue models.
Gene Hoffman, CEO/Chairman-Vindicia
Miriam Volle, Business Marketing Communications Leader-Kaiser Permanente
Vidya Vishal, Enterprise Growth Leader-Equifax