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Bridging the Digital Divide
How CMOs can rise to meet 5 expanding expectations
CMOs are going through a rapid transformation. Increasingly, they are asked to be more than proficient marketers, but also to act as the stewards of the customer within their organizations, building bridges across functions to enable customer engagement. Learn more in this new research, which identifies five key priorities for the new CMO.
CMOs know they must adjust quickly—and redefine their own roles independently, because expectations continue to climb and no CMO role is the same. If technology inherently disrupts, then that’s exponentially true in digital marketing. CMOs must innovate and accelerate, providing answers to changing consumer demands, increased technology needs, and marketing talent challenges.
CMOs: Are you ready for the challenge?
5 expectations today's CMO should meet as they build customer-centric organizations:
1. Take on Topline Growth
53% of surveyed CMOs felt an increased pressure to enable revenue growth - making this the biggest change to their teams' responsibilities over the past few years. While the expectation for the CMO to drive revenue is pronouced, many CMOs are faced with a conversion path they don't entirely own.
The collaboration of internal departments, where marketing helps to drive sales and product improvement, ultimately cultivates topline growth.
2. Own the customer experience
Social media, email, mobile messaging, and web channels host a number of customer-brand interactions, from social media advertising to customer service. 38% of CMOs report an increased role in customer service (via social media, call cneter, or a similar function).
CMOs now own the largest share of the customer journey - and customer service is now merging into marketers' digital strategies.
3. Dig into data-based insights
52% of surveyed CMOs indicated a greater need for personnel with data and analytics expertise. CMOs hope to get more data to boost their capabilities even further and improve optimization of their marketing efforts.
"We must move from numbers keeping score to numbers that drive better actions."
- Dave Walmsley, Marks & Spencer Director of Multi-Channel Development
4. Operate in real time
To get the most from their data and analytics experts, CMOs should make additional investments in the tools that support their real-time customer-facing efforts -namely, web personalization, and marketing automation.
Real-time marketing gives customers what they want then they want it, but CMOs must be aware of when not to automate.
5. Master the metrics that matter
To prove that the changes and investments they're making are driving revenue, CMOs know that they need to be focused on metrics that matter to the business - and 53% of surveyed CMOs said ROI was that metric.
The C-suite needs to agree on KPIs that yield credible, measureable marketing ROI.