Improve Marketing ROI with Content Strategy – Inspired CMO Summit 2023

In the ever-evolving landscape of digital marketing, adapting to change is not just a choice; it’s a necessity. Andy Mullings, Global Director of Sales (former Head of Demand Operations at BNY Mellon), spoke at the Inspired CMO Summit 2023, shedding light on the transformational journey undertaken by one of the leading players in the financial sector, BNY Mellon. With over 15 years of experience in the marketing technology space, Andy delved into the challenges faced by marketers today and how a strategic overhaul of the content supply chain not only mitigated these challenges but also significantly enhanced marketing ROI.

Watch the full ‘Inspired CMO Summit 2023’ session here.

Challenges in the Content Supply Chain

Andy began by addressing the prevalent challenges faced by marketers – a staggering 81% are under immense pressure to deliver content faster. Additionally, 85% lack a central hub to execute and manage content, leading to inefficiencies, while 75% struggle with ineffective processes. Within large enterprises, including BNY Melon, a scarcity of essential skills, outdated workflows, disconnected technology stacks, and a lack of audit trail compounded the hurdles.

The Foundation: People and Culture

Central to the transformational success was the focus on people and culture. By investing in well-considered recruitment, tailored skill development programs, and open communication channels, the organization cultivated a culture of innovation and collaboration. The team was empowered to work on growth projects alongside their routine tasks, ensuring continuous learning and professional growth. Recognition and praise became integral, fostering an environment where every team member felt valued and motivated.

Mapping Processes and Implementing Technology

A meticulous mapping of processes was undertaken, ensuring clarity and efficiency at every step. The integration of a robust technology stack, predominantly Adobe’s suite, streamlined workflows. Adobe Workfront, a project management tool, played a pivotal role in automating content intake, approval, and delivery processes. This integration not only saved time but also significantly reduced errors and risks.

Performance Gains and Future Prospects

The impact of this transformation was staggering. The organization achieved a remarkable reduction in the time required to create emails – a saving of 6 hours per email. Extrapolated, this translated to 4,800 hours saved annually, equating to almost 200 days. These efficiency gains not only enhanced ROI but also enabled the team to focus on innovative initiatives, including personalized customer journeys and tailored product emails, thereby elevating the overall customer experience.

Key Takeaways for Marketers:

• Focus on People and Culture: Cultivate a positive and innovative culture where team members feel valued and motivated.
• Understand Workflows: Prioritize understanding and optimizing existing workflows before integrating technology solutions.
• Choose the Right Technology: Carefully select technology platforms that seamlessly integrate and enhance existing processes.
• Continuous Learning: Encourage ongoing learning and skill development to keep the team updated with the latest industry trends.

In conclusion, Andy emphasized the importance of a holistic approach to transformation, where the fusion of skilled professionals, streamlined processes, and cutting-edge technology creates a powerful synergy. This transformation at BNY Mellon serves as a beacon for marketers navigating the complexities of the digital age, demonstrating that with the right strategy, the challenges of today can become the stepping stones to a more efficient and profitable tomorrow.