Your digital experience is your most important product. Everything else follows.
Steve Reny and Jennifer Griffin Smith CEO and Chief Market Officer, Acquia
Interviewed by Justin Cooke
Published
Steve Reny is Chief Executive Officer of Acquia, the open digital experience platform company founded in 2007 by Dries Buytaert, the creator and worldwide project lead for Drupal. Jennifer Griffin Smith is Chief Market Officer at Acquia, in her sixth CMO-level role. Together they set out why Acquia uses the title Chief Market Officer rather than Chief Marketing Officer; why the company runs marketing and sales as a single go-to-market function rather than two attribution silos; why the notion of a single lead drives the marketing leadership bonkers; and why digital accessibility is the most underweighted strategic priority in marketing today.
The Chief Market Officer title and what it really means
On the title.
(Griffin Smith) Marketing is as much, if not more, about the market and the customer than the activities the team executes against. In my experience, this is my sixth CMO role, marketing is too often thought of as the part of the company that runs activities. One of the reasons I joined Acquia is the belief that everything we do is for the customer. If we in marketing, working closely with product and sales, are not hyper-focused on customer needs, market needs, and innovating against those needs, then we are just doing activities. The title is a reminder.
On the operating function it implies.
(Griffin Smith) We have a culture where everyone operates as one for the success of the customer. Rather than it being a product team, customer success team, or marketing team, we think about go-to-market in terms of how we are innovating and how we are bringing innovation to market. I spend as much time with cross-functional teams as with my own marketing team.
(Reny) We run the company against what we call vital few objectives. The number one VFO is to improve the customer experience. Everyone in the company can name the VFOs in priority order. Where there is a trade-off decision, the question is whether it improves the customer experience. The orientation flows from the company's origin as an open-source community project around Drupal: openness in everything we do.
The buyer has changed. Marketing has had to catch up.
On the buyer change.
(Griffin Smith) Marketing in the digital arena is hard. There is a great deal of competition and a great many digital paths to the customer, and the customer now self-serves with significant choice. The buyer has changed. The way you buy a car, self-serve a mortgage application, buy a shirt versus visiting a mall, all of it has changed. The pandemic accelerated it. Expectations have grown.
If I can work from anywhere, I expect to be able to serve myself from anywhere. Everyone now expects frictionless, productive experiences. We deliver those as a product, and we have to deliver them as a marketing organisation.
On the existing customer as the best seller.
(Reny) Existing customers are also our best sellers. Delivering a great experience to the customers we already have, ensuring they realise the value they expected when they bought from us, is priority one. We can do the best marketing in the world, but if your installed base is not happy and is not willing to recommend you, the rest of the work is hard. Brand is not what you stick on an ad. The brand is the service the customer gets and the value they see in the solution.
Why the lead is the wrong unit, and the buying committee is the right one
On the buying committee.
(Griffin Smith) The notion of a single lead drives me bonkers. One person doing one activity on your website does not make a lead. There is a buying committee, probably ten people in the organisation involved in the purchase of one solution. We need to understand who all of them are and what they are doing. There are intent-based tools that let us understand unknown visitors and build a profile of an account beyond an individual.
It is a big change, and a hard one to implement, because teams have to move out of a volume game and into a higher-value game. If we are doing our job, we are bringing the buying committee together inside the customer's organisation, because they often do not naturally convene themselves.
On bringing IT and marketing together.
(Reny) IT and marketing is the recurring example. The reality is that the buying centre does not sit with either function alone. One may hold the budget, but ultimately you need both. We see our role as bringing them together. Marketing teams are frustrated with IT for slow delivery. IT is managing the consolidation and time-to-market of multiple systems across the organisation. We have to speak the language of each buyer.
What gets measured, and what gets harder to measure
On measurement.
(Griffin Smith) The traditional measures of lead generation through the funnel, how much goes in the top versus how much comes out the bottom, are no longer the whole picture. We look at this as an entire company. The creation of pipeline and revenue has historically been a blame game between sales-sourced and marketing-sourced. That does not help any team work together. Myself and the head of sales work together because neither of our teams can do it alone.
At a high level we look at total sales and marketing spend as a percentage of revenue, and LTV to CAC. That is how we know whether the business is performing. Paid search is more expensive than it used to be. Email is not dead. For many marketers it is still the best-performing tactic on response rate.
On the discipline of the function.
(Reny) These knobs are turned every day. This is not a set-it-and-forget-it function. It is a living, breathing thing that has to evolve. Market dynamics, the installed customer base, macroeconomic events all affect it. Progress over perfection.
Accessibility: the underweighted strategic priority
On the most important thing on the horizon.
(Griffin Smith) Digital accessibility. I say that not because we sell a solution for it, but as a marketing leader. In all my years as a marketing leader, I have never built digital accessibility as a core part of my digital strategy, and I feel a little shameful about that now I have been digging into it for the last year.
If we want to address all our audiences, we have to make sure all our content and all our channels are accessible to everyone. Location, gender, ability. PDFs are usually not accessible. Forms with insufficient colour contrast cannot be completed by anyone with colour-blindness. These are small things that have material effects on site traffic and conversion.
On the addressable market.
(Reny) Up to twenty percent of our customers' addressable market is unavailable to them if they are not considering accessibility. The opportunity for them is to expand their addressable market. The way we change the world is through what our customers do: saving lives, educating the next generation, delivering the goods and services we use every day. The more efficient we can help make them, the better the work they do.
The question for the board
If digital experience is now the most important product the company ships, what share of investment sits with the product team versus marketing?