XT … Next Generation CMO: How To Succeed In The Future Of Marketing (by Forbes)
What do collaboration, communication, creativity and flexibility have to do with the role of the CMO?
These top attributes were identified by over 1,500 CEOs in IBM’s “Connect more – Insights from the IBM CEO, CMO and CIO Studies” as the personal skills most needed. The imperatives to engage employees were ethics and values, a collaborative environment, purpose and mission and the ability to innovate. How can CMOs become analytically driven strategic communicators who can create a clear vision that can engage both internal and external customers?
According to the IBM Chief Marketing Officer insights from the IBM C-suite Study released in 2014, enterprises that have a deep knowledge of their customers outperform their competition by 60%. While the good news from Spencer Stuart’s 2014 Marketing Officer Practice indicates that the average CMO tenure has increased to four years, double what it was ten years ago, there is a significant gap between knowing what needs to be done and action. Only 43% of CMOs interviewed effectively use data analytics to generate customer insights and have the expertise and resources to handle the explosion in social media with a fully integrated digital enterprise in place.