The CMO’s responsibilities vary wildly across companies and industries, but the majority of CMOs know they must adjust quickly—and redefine their own roles independently, because marketing is a vastly different discipline than it was even five years ago. 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.
In new research by Deloitte and ExactTarget Marketing Cloud, CMOs were surveyed on the changes within their role, the industry, and digital marketing as a whole. The research discovers areas of critical expansion where CMOs are expected to do more than ever.
Fifty-three percent of CMOs surveyed felt an increased pressure to enable revenue growth. The collaboration of internal departments, where marketing helps to drive sales and product improvement, ultimately cultivates topline growth.
CMOs now own the largest share of the customer journey, including customer service. Customer service is now merging into marketers’ digital strategies.
Fifty-two percent of CMOs indicated a greater need for personnel with data and analytics expertise. While finding this talent is the number one area, CMOs felt underprepared. "We must move from numbers keeping score to numbers that drive better actions,” as David Walmsley, Head of Multichannel Marks & Spencer, has explained.
Everything happens in real time for customers. But many marketing teams still operate under quarterly campaign calendars. Real-time marketing gives customers what they want when they want it.
Modern marketing success requires metrics, and fifty-three percent of surveyed CMOs said ROI was that metric. The CMO must decide how to prove the value of efforts to C-suite colleagues. In addition, the C-suite needs to agree on KPIs that yield credible, measurable marketing ROI.
Read more of our #NewCMO research in Bridging the Digital Divide: How CMOs Can Rise to Meet 5 Expanding Expectations.
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