CMO Panel: Shifting Priorities For B2B Brands

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#B2BMX CMO Panel: Changing Priorities & Expectations for Performance Marketing

Transcript of CMO Panel: Shifting Priorities For B2B Brands

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CMO Panel: Changing Priorities & Expectations for Performance

Marketing

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Jim D’Arcangelo, VP Marketing, When I Work Meg Hylecki, VP Marketing, Ciox Health Bassem Hamdy, EVP Marketing, Procore Technologies

PANELISTS

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Serial Start-up/Growth Guy Riding the CMO Wave CMO 2008 Core Capabilities: Marketing Volume:

Aria Systems, 2008

Volume and Veracity: Booker, 2014

Volume X Veracity X Velocity: When I Work, 2016

CMO’s 2017 Core Capabilities: Finance; Dev/Systems Architect; OD; Process Design; Marketing

Changing Expectations & Priorities For Top Marketing Executives:The Tech Growth Company CMO – Then and Now

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Rising CAC and CPA; dropping LTV; bloated Junk Leads Four systems grappled with prospect comms and marketing

automation No one owned customer lifecycle No understanding of prospects and customers: no personas,

UVPs, buy triggers, use cases or testimonial logic No alignment of Sales and Marketing No accountability on the team, as individuals No telling Finance reporting

Where We Were:When I Work, 4Q16

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Plan to Orchestrate Marketing Overhaul with Business Plan and TimingSprinting on People, Processes and Technology Planes Data cleansing System transition and consolidation; Systems Selection and

Build Out Analytics and Financial accounting Market research to understand prospects and customers

Personas, UVPs and triggers from Unaware to Advocacy New Data-sourced roll outs to drive speed Team skill sets; Stakeholder alignment; Analytics/KPI-driven

culture

Where We Went:When I Work

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Dropping CAC and CPA; rising LTV; taking chunks out of Junk Leads Marketo implemented; Radius as List Source; Bizible Doubled lead channels Content by persona, by vertical, by consideration stage, right-formatted

Customer lifecycle and experience engagement in place; Marketo & Influitive

Expansion to multiple, targeted new vertical markets Full Sales and Marketing alignment; Integrated funnel and structure; ABM People: 75% new team; >80% new JDs

Culture of stakeholder and KPI accountability Finance interlock on reporting to drive lead to LTV spectrum;

Where We Are:When I Work, 1Q17

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C I OX H E A LT H . C O MF O R G R E A T E R H E A L T H

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7,500+HIM professionals and

record release experts

400+EMR systems for

record access

60%of all medical record

requests come through Ciox

40M+requests for health

information reliably handed annually

100+health plans served

1M+unique requesters who need

access to protected health information

3 out of 5U.S. hospitals

served

40years of health information

management experience

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One-page document distributed to entire company that articulates:• Who we are• What we do• How we do it• Why you should work with us

One voice• The same story told by 7,500

employees is louder and stronger than 7,500 disparate stories

The “First Impression”

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HIM DIRECTOR: INFLUENCER AND CHAMPION

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Buyer ProfileC

OR

E P

ERSO

NA

IN

FOR

MA

TIO

N

Buying Role• Serves as the champion for

selecting release-of-information services.

• Initiates the vendor investigation/ consideration.

• VP Revenue Cycle or CFO signs off on the purchase.

Buying Triggers• Existing process is broken.

• There are issues with the vendor or in-house.

• Complaints are reaching the executive level.

• Operations manager under her may initiate as well.

Profile SnapshotThis role is responsible for data integrity, privacy and security across the entire integrated healthcare system. She is focused on the business side of healthcare management, including managing clinical and financial data. She is risk-averse and just wants her job to be easier. She typically has had a long tenure with the organization and may be change-resistant. Younger HIM directors may be more open to change. Electronic Health Records (EHR) is changing her role and pushing her outside her comfort zone.

Titles I May Have: HIM Director, Corporate Director of HIM, Medical Records Department Director (older title)

Specific Initiatives• Coding – number one priority because it

drives revenue. Problems with coding are either productivity (#1) or quality (#2) issues.

• Privacy and compliance – must ensure records compliance; this touches different parts of the hospital. Some facilities may have a privacy officer or a separate privacy-compliance office.

• Make the job easier – overarching goal. If problems arise, she risks getting fired.

General Priorities• Oversee coders to maximize

productivity and accuracy, hiring additional coders as necessary.

• Ensure accurate and complete medical record documentation.

• Manage audits and denials from third-party payers/auditors.

Top Pain Points• Coding – measured on record processing to

prevent backlogs that affect cash flow.• Information governance – need correct and

timely documentation by staff or can’t code.• Budgeting – see ROI as way to capture revenue

to support other areas.• Customer complaints re: privacy/compliance. • Technology – how to implement new

automation processes.Vendor Criteria• Managed services – number one

criterion. Wants a vendor to handle the day-to-day operational issues and take if off her plate. Also, the vendor takes on the risk for the operation. Both on the coding and ROI side.

• Technical features – nice-to-haves, but not primary criteria.

Measures of Success• No complaints.• Coding is accurate.• Denials of payment are minimized.

Watering HolesAHIMA (American Health Information Management Association). National association is resource for regulations, guidance, education, etc. Not the state AHIMA chapters.

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Hyper-localRegional Focus

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Procore asa publisher40,000+ subscribers

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