According to a recent report, The CMO Shift to Gaining Business Lift from the CMO Council and Deloitte, "the CMO of today has denounced the traditional role of mere brand ambassador, instead opting to actively assert their role as business driver, change agent and customer experience champion."
Before I get to the top two methods CMOs identified for driving revenue and increasing margin, here's some other key findings from the research, which consisted of a global survey of CMOs and senior marketing leaders.
The chart below clearly shows you where CMOs priorities are when it comes to driving revenue and improving margin. CMOs realize that to be successful it's all about data- the right data and using it the right way via the right marketing technology.
Not sure about the use of "intrusive ads" checking in 3rd in the priority list but that's another story for another time.
As I have written before (and will do so again) marketing leaders must create a data-driven marketing culture and organize the required people, processes and systems. They need to eliminate data silos and create a single source of truth - a 360-degree view of customers to reliably and efficiently target the right message, to the right person at the right time.
According to research from Deloitte Digital 76% of consumers say they interact online with brands or products before arriving at the store, and are therefore making digitally-influenced decisions much earlier in the shopping process. So it is vitally important for CMOs and marketing leaders to use a marketing technology platform that provides the ability to link online digital marketing efforts to offline purchases to give them the true ROI on dollars spent.
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