In an omni-channel world, the evolution of go-to-market channels is undoubtedly enforcing a change in the role of Chief Sales Officers (CSOs).
Traditional go-to-market channels like retail stores are being replaced by new-age digital channels such as mCommerce and eCommerce and eroding traditional business models. Greyhound Research believes that forward-looking CSOs must not only manage a salesforce, but also proactively keep an eye on digital disruption for new revenue sources.
Digital disruption is allowing customers to engage with organisations through new-age customer touch points like mobile devices, app stores and online communities. Take for instance how Meliá Hotels International (with help from Accenture) implemented a new digital transformation strategy called ‘Be More Digital’. The strategy helped them achieve more than EUR 336 million in 2015 in direct sales revenue and add more than one million registrations to its re-launched Meliá Rewards program.
Other examples include AirBnB, a hospitality aggregator with a valuation of around USD 30 billion. It is now ranked only 3rd, following close on the heels of well-established hospitality chains, the Hilton and Marriott group of hotels.
Another example is of Nordstrom (an American retailer) which reported that their order referrals from social media platform, Pinterest, increased by 79%. Nordstrom is using Pinterest to turn online content viewers into customers.
In this context, Greyhound Research underscores four best practices that CSOs can adopt to stay ahead in the race. These are:
- Identifying relevant customer touch points
- Owning the entire customer experience management
- Investing in Systems of Insights to deliver consistent customer experiences and
- Working with the CIO to develop secure and transparent Systems of Transaction
“The evolution of go-to-market channels is enforcing a change in the role of the CSO. As customers migrate to newer touch points, the pressure on CSOs will increase manifold. Greyhound Research believes CSOs can use this blueprint to adequately prepare for the immediate future.” said Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research.
How Can CSOs Better Prepare Themselves?
To know more about how CSOs can adapt and prepare for this change, read our freemium Greyhound Sprint Report titled, Driving Revenue In The Face Of Digital Transformation – A CSO Directive.
To know more about Greyhound Research global, annual Buy-side and Sell-side trackers such as Emerging Markets CSO Priorities among others, please write to our Client Centricity Team at firstname.lastname@example.org.
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