The role of a chief marketer is expanding beyond a “brand steward” and towards a “brand champion” with responsibilities for top-line growth and more.
The insights come from a Salesforce ExactTarget Marketing Cloud and Deloitte study which found half of the 228 surveyed global marketers believe they now have more responsibility for revenue growth.
The ‘Bridging the Digital Divide’ study also found 61% believe data acquisition is a top priority for 2014.
Lee Hawksley, managing director of Salesforce ExactTarget Marketing Cloud Australia, said: “Many CMOs find themselves with one foot in branding, one in the post-digital world and one hand on a compass trying to figure out what’s next. The role of the new CMO has changed, they are no longer just ‘cost centre’, but vital asset owners, who are responsible for driving business growth.”
The study identified five expectations of today’s CMO including top-line growth, responsibility for the customer experience and the ability to work in real time.
Frances Yu, director Deloitte Consulting LLP, said the role of marketers today has expanded beyond brand steward to customer champion.
“CMOs play a key role in driving revenue growth. And, to deliver on those growth expectations, CMOs should chart their own path to provide answers to changing consumer demands, new channel adoption, upgrading technology strategies and marketing talent challenges,” Yu added.
- Expectation 1: Take On Top-Line Growth
- ‚Äã53% of CMOs say with the growth of digital marketing, their team’s responsibilities include a greater focus on enabling revenue growth
- 38% of CMOs say they have a larger technology budget to keep pace with the growth of digital marketing
- Expectation 2: Own The Customer Experience
- ‚Äã38% of CMOs name an increased role in customer service as an area where the growth of digital marketing has challenged their teams
- However, 23% of CMOs don’t feel adequately prepared to address an increased role in customer service
- Expectation 3: Dig in to Data-Based Insights
- 61% say data acquisition is their top internal marketing priority for 2014
- However, adding personnel with data and analytics knowledge is the number-one area (32%) where CMOs feel least prepared
- Expectation 4: Operate in Real Time
- ‚Äã59% of CMOs named flexible and agile marketing processes as a top internal marketing priority
- Only 16% use web personalisation frequently today, while 50% plan to do so
- Expectation 5: Master the Metrics That Matter
- ‚Äã53% of CMOs say ROI was their most important metric used to measure success
- 52% of CMOs say the growth of digital marketing has led to the need for more qualified data and analytics personnel
To download ‘Bridging the Digital Divide: How CMOs Can Rise to Meet Five Expanding Expectations’ click here.