Redefining.Recalibrating.Rebooting-CMO's Role in the Digital Economy

THE NEED FOR CMOS to adopt a more strategic stance stems from the changing needs and behaviours of consumers.

Also marketers today, more than ever before, are swamped by an increasing number of MarTech stacks and tools they have available at their fingertips. All these multiple channels and tactics have inevitably resulted in an increasing pressure to simultaneously engage customers while delivering on growth initiatives.

This friction may help explain the churn in the CMO position more than in any other C-suite spot. While organisations are entrusting business growth squarely on the shoulders of the CMOs, they are doing so without necessarily providing them the authority to make the vital decisions. This leaves the CMO with very little room to execute effectively.

OWNING THE CX JOURNEY

Today, the CMO is often called upon to play CXO and add experience value to the brand. They do this by defining and steering the customer experience journey right from ideating, designing and then building the systems/tools/processes to deliver on that perfect experience to ensure value augmentation to the customer throughout his journey.

Chief Marketing Officers are also expected to be intrinsic data scientists and have complete knowledge of customer data including identifying when customers are looking for a specific good or service, figuring out what issue they are attempting to resolve, and determining what options will best suit them all in real time. Sharp conversion, customisation, and prediction abilities are required.