CMOs Must Fully Embrace New Technology, or Fail, And They Know It - AdAge | Everything connects to marketing: thought leadership in a marketing world | Scoop.it

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A new study by Accenture Interactive, "Turbulence for the CMO," reveals that 70 percent of the CMOs of some of the world's largest enterprises think they have five years to fundamentally overhaul their companies' corporate marketing operating model to achieve competitive success. Based on the survey's key findings, there are four broad steps that marketers need to take if they hope to meet customer demands and grow market share:

Fundamentally Change the Marketing Experience. CMOs must drive a shift in organizational culture that makes consumer relevance at scale a key operating principle, shared by every department beyond marketing that affects the consumer experience -- R&D, sales, manufacturing, supply-chain management and services.Embrace a Digital Orientation. As digital technology plays an increasingly vital role in transforming the customer experience and enhancing corporate success, CMOs must lead the organization in embracing a digital orientation.Invest in Analytics and Talent. While CMOs do plan to invest more in their analytics capabilities, a major focus of that investment must also be on hiring, retraining and redeploying people to improve efficiency, agility and responsiveness of the organization. Marketing talent must be able to create consistent, multichannel experiences that meet customers' needs, expectations and demands for relevance.Pick a Partner. Agencies must help CMOs make sense of complexity in the marketplace by improving their levels of execution and delivery and providing a broader set of capabilities and deeper integration across the agency ecosystem.

 


Via iNeoMarketing