But here, I want to focus on a specific trend that I’ve noticed has grown over the years. CMOs have long felt the pressure to tie their marketing efforts to tangible business impact, but this need has intensified due to the increasingly elevated roles of C-suite peers like the chief product officer (CPO). This is especially true among technology-focused CMOs, who are at the forefront of adopting a product-led growth strategy to effectively address these evolving challenges.

What is product-led growth?

Product-led growth marks a significant redirection of priorities. It places the product itself at the center of the growth strategy, leveraging it as the primary driver of customer acquisition, activation and retention. In this model, funds that were traditionally allocated for upper-funnel marketing activities are increasingly being diverted to support enhanced product development. For CMOs, this shift means embracing new competencies and rethinking how to best support not just initial sales, but the entire customer lifecycle.

This approach not only ensures more sustainable growth but also aligns marketing efforts more closely with the broader business outcomes. And while it signals a major change in strategy, it doesn’t need to be treated with existential dread about your relevance as CMO. Here’s how to get ahead of the shifting expectations that CMOs face.

As C-suite dynamics shift, closer collaboration is key.

Moving away from traditional "brand" thinking, CMOs must now adopt a data-driven approach that aligns closely with product development and customer experience enhancements. This expanded role ensures that marketing strategies are deeply integrated with the product to enhance adoption from the outset, and often means looking beyond front-end acquisition metrics to also focus on deeper, more substantial metrics like customer lifetime value.

At the same time, CMOs also face a shift in power. As the product itself becomes the central tool for growth, the role of the CPO becomes more prominent. In some organizations, this shift can lead to CMOs losing some traditional powers as CPOs take a leading role in driving user acquisition and retention through product innovations—making closer collaboration across the C-suite vital, ensuring that marketing not only attracts but also materially contributes to the financial success of the company. Effective collaboration relies on understanding customer motives and mindsets across the full funnel, which we’ll touch on below.

Embrace a wide-lens view across the customer journey.

In a product-led growth strategy, the modern CMO’s duties extend beyond the initial point of sale. Successfully delivering on this strategy requires a holistic view of the customer lifecycle, ensuring that marketing strategies not only support initial product adoption but are also tightly aligned with ongoing customer retention and expansion.

Achieving this full-funnel view relies on the deployment of sophisticated CRM technologies that are capable of not only reaching new customers but also re-engaging existing ones at various stages of their journey. The effective use of CRM tools allows CMOs to maintain a continuous dialogue with customers, personalize marketing messages, and optimize the timing of outreach efforts. You can learn the ins and outs of this strategy in our Generation AI report, which goes deeper into building interconnected touchpoints that are reactive to customer needs and engagement across the full funnel.

Automated product recommendations can empower sales teams by predicting which products a customer is most likely to purchase next, thereby enhancing the effectiveness of sales conversations and increasing the chances of upselling.

CRM data is crucial to tying marketing activities to business objectives.

So, you’re facing the pressure to expand your horizon beyond the upper funnel and the initial point of sale, and you’re aware of the role that automation and CRM tools will play to help you get there. But how do you begin building a robust data infrastructure to make the most of your CRM data and the latent insights within?

Everything starts with your data foundations, particularly in areas such as marketing and media data warehousing. A well-structured data warehousing strategy not only facilitates better data analysis and insight generation but also helps in breaking down the silos between marketing and product teams.

Next, refine the key performance indicators (KPIs) that signal impact. In the context of product-led growth, CMOs need to look beyond traditional metrics such as cost per acquisition (CPA). Instead, shift your focus towards KPIs that offer deeper insights into customer behavior and loyalty, such as customer lifetime value (CLV) and average number of purchases per customer. These metrics provide a more nuanced understanding of how effectively the product and associated marketing efforts are retaining and engaging customers over time.

In the spirit of collaboration with your sales team, also consider how to accelerate deal cycles and enhance the sophistication of lead scoring mechanisms. These efforts help in identifying the most promising leads faster and more accurately, thereby improving the efficiency and effectiveness of the sales process.

Thrive—don’t just survive—in the evolution of the CMO’s role.

The key to successful product-led growth lies in the ability to integrate marketing, sales and product development into a cohesive strategy—and with the groundwork laid for powering relevant customer experiences, you’re ready to build new alignment with the CPO and CRO. A good first step here is to build a roadmap that aligns product release schedules with the overall marketing plan.

This enables you to communicate product innovations in the market, maximizing both product adoption and the impact of your marketing. For example, analyzing sales performance to decrease time to close can reveal insights into how marketing can better support sales. This approach resembles lead scoring but goes deeper by enabling sales teams to focus on prospects who are most ready to buy, based on predictive analytics and behavioral data provided by marketing.

When planned successfully, a product-led growth mindset ensures the entire organization is geared towards leveraging its products as the primary growth driver. By fostering this level of collaboration, CMOs, CPOs and CROs can ensure their strategies are not just aligned but are also mutually reinforcing, leading to sustained growth and competitive advantage.

As we look to the future, the evolving role of the CMO in driving product-led growth underscores a clear message: adaptability, collaboration and a deep understanding of data are paramount. CMOs are not just participants but are strategic architects in reshaping the marketing landscape to harness the full potential of product-centric strategies. By fostering robust partnerships with CPOs and CROs, and by embracing advanced technological tools, CMOs can ensure their initiatives not only align with but propel the broader business objectives. Let this be a call to action for all digital marketing leaders to embrace these changes boldly and creatively to drive sustained growth and create enduring value in their organizations.

The main question that I tried to answer during my four days in Lisbon was, are we really taking a technological and cultural leap? So many things that once seemed like they were just futuristic concepts, from Bluetooth to laptops to the iPhone, have become our everyday tools. But with AI, to what extent are we recognizing that tomorrow will be markedly different from today? In the spirit of recognition, here are some things I thought (and spoke) extensively about at Web Summit. 

First up, the environment. To paint a rather dystopian picture, we’ve consumed enough film and literary content to envision a future where man and machine battle for domination, with one possibly wiping the other off of the face of the Earth. However, Web Summit allowed me to see a more utopian view: AI is an ally in our mission to safeguard our planet—and the tech will only grow in this ability. Melanie Nagasawa, Microsoft’s Chief Sustainability Officer, explained that AI will help us significantly reduce water and energy waste in electrical networks, as the tools enable us to produce assets more efficiently. Another astounding example is that AI can help revolutionize global food production systems, with AI-powered indoor farms offering safer, climate-resilient and thus more reliable food production.

Second, marketing. One of the talks that truly stuck with me was by Joana Vasconcelos, an incredible Portuguese visual artist. In her speech on the role of art in the “new world,” she reiterated that AI will not replace us, at least not in the fun things such as creative thinking, and any other aspect where the human touch remains indispensable—and I fully agree. That said, there’s no doubt that AI, along with virtual experiences, have firmly established their roles in the digital realm. From powerful tools for campaign creation, management and amplification to the development of premium content (think of AI lip-syncing, audio production and video adaptation), AI is taking a leading role. 

However, amidst the chaos of hundreds of martech startup pitches, one blue logo—coming directly from my friend’s bedroom in 1995—lit up my day: SEGA. The Japanese company’s COO Shuji Utsumi talked about transmedia; how an entertainment product like Sonic transmediated, adopting different shapes based on the channel, intended use and target audience, from video game hero to TV star to influencer. If you ask me, the concept of transmedia is what should be at the center of tomorrow’s digital marketing development. We should increasingly be thinking about campaigns, content, culture and communicative products in a way that, to quote Radiohead, “Everything’s in its right place.” 

As for entertainment, the operative word is gamification. Some thought it had gotten lost a long time ago when we interacted by clicking on the keyboards of our cell phones, but no. Gamification has returned to set new and higher standards with exceptional quality, supercomputing power and a humanized flow. Transforming advertising into advergames is a trend that I believe we should rediscover because AI now allows us to offer seamless experiences (I’m reminded of gamification’s old issues with convoluted mechanics and endless lags) that are completely tailored to users—and we know how important personalization is when it comes to effective communication. 

From the perspective of our company, it’s only right to say: we are now. In moving from speech to startup pitch to panel, I realized how the DNA, capabilities and values of our organization are fully on track with the direction the digital landscape is heading in. Our eagerness to come up with and provide creative and technological solutions today prepares us to address the challenges of tomorrow. And so, I couldn’t help but feel excited about these shifts and our task to support brands in navigating them. 

All in all, this year’s Web Summit recognized the rise of AI as a paradigm shift—not only is the tech transforming industries, but it’s also offering solutions that help us tackle environmental challenges, shape marketing strategies, revolutionize entertainment and drive innovation in the digital world.

Often, investing in gaming activations and experiences has served as a simple way for brands to enter this new space, some of which have garnered media attention and largely positive sentiments among players. These include Ally Bank’s customized island on Animal Crossing: New Horizons and the Uncensored Library, both of which Media.Monks helped create. Whether you want to build a game from scratch or put your unique spin on an existing world, here’s why gaming platforms are top-of-mind in brands’ virtualization strategies—and how you can create a high-scoring metaverse experience of your own.

Why Games Are a Go-To Entry Point

Andy Loo, VP of Operations in APAC says that games make for an easy starting point. Many online games offer pre-existing, fully realized virtual worlds through which brands can engage with consumers—cutting out much of the complex legwork that comes with building a metaverse experience from scratch. “Other points that brands can leverage are the hype that is already built around popular multiplayer games and the ability to connect with players online through their social features,” he adds.

Furthermore, game platforms such as Roblox and Minecraft have libraries of predefined tools that let players easily develop their own games and virtual worlds. These very same gameplay features can be leveraged by brands, too—building on gamers’ desire to create and collaborate. With Ally Island, for example, Ally Bank was able to exhibit their brand promise in a compelling way by helping players manage their in-game money and even invest in the “stalk market”—the game’s play on the stock market—much like it helps customers attain financial literacy and security in real life.

Social Media Gives Way to Social Gaming

In recent years, games have become important places to meet and socialize virtually, particularly for younger audiences. Spurred further by the pandemic, more people have jumped into online gaming, not just for its entertainment value, but also as a social lifeline to connect with family and friends. Statista’s 2021 survey of gaming audiences released in April found that the social side of gaming is very important to the majority of players: 77% respondents said that gaming helped them stay in touch with friends and 80% reported that video games helped them to meet new people. 

With the social and entertainment aspects of games intersecting, it’s no wonder that online gaming is gaining ground. Major game developers are also building enhanced social capabilities in their products. Sony is partnering with Discord to build a voice chat app into PlayStation consoles and Bitmoji will be integrated into Gismart-developed games in Snapchat. These are just a couple examples of games evolving towards spaces for socialization.

“We’re constantly looking for new ways to enable players around the world to connect with one another, form new friendships and communities, and share fun experiences and lasting memories,” Sony president and chief executive Jim Ryan said in a blog post.

These trends support a cornerstone characteristic of the metaverse: it’s an intrinsically social space. Much like the internet, the metaverse fulfills a desire for connection between people—but unlike the asynchronous, feed-based internet we know today, the metaverse is set to thrive on live interaction, like attending a virtual concert where players can interact with one another and enjoy the performance together.

A focus on sociality and relationships presents another way brands are entering the metaverse through gaming: by creating avatars and “skins” that players can personalize to show off their identity and style. “Fashion has always been used as a building block of identity, so what you wear says something about you, as a person in the real world,” Liam Osbourne, Global Client Partner of FLUX, our fashion and luxury team, told Digiday. “As we’re seeing things get more advanced digitally, it’s only natural that your avatar or virtual version of you gets given the same level of importance and attention.”

A World Customized for Your Brand

While many brands have had success tapping into existing game worlds, others have taken a more bespoke approach by building experiences from scratch. Sure, it’s going to require more effort and resources, but you will have full creative control in tailoring your own world.

In promoting Netflix’s first-ever original anime series Eden, we built a VR racing game from the ground up. Available in English and Japanese, the game is based on the unique art style of the show, which is a mix of 3D cell-shaded characters and 2D painted backdrops. Developed as a companion to the series, the game lets players ride through Eden’s luscious environment to discover key locations and piece together the series’ story.

The benefit of these custom environments is that they are longer-lasting than one-off campaigns or ephemeral in-game activations. To that point, Eden Unearthed expands the world of Eden into a living, immersive world for fans to explore as they create their own stories inside.

“By establishing their own virtual worlds and encouraging people to interact within them, brands can seize opportunity in the metaverse to fuel future marketing and engagements with their audiences,” suggests Loo. Continually filling these spaces with fresh content helps them feel dynamic and real—and keeps audiences engaged into the long term.

Whatever your method to approach the metaverse or gaming, begin by considering which kind of experience is the best fit for your audience. Questions to ask include: what is a suitable gaming platform or type of world that would appeal to them, and what is the level of engagement you seek? For example, if you are trying to reach a young gaming audience, then customising a world within games such as Fortnite or Roblox—whose core players belong to Gen Z—may be the way to go. Free, multiplatform games may also be preferable for reaching the widest possible audience and lowering the barrier of entry.

Creating an affinity with your audience and connecting with them is key; there is no place for hard selling here. Be creative in making use of the environment to build value. The metaverse is a place to unlock new creative expressions, and brands are presented with numerous opportunities enabled through gaming.