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The CMO shift to gaining business lift

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As part of Deloitte’s "Marketing as a Growth Driver" research, conducted with the CMO Council, we interviewed CMOs across industries about their thoughts on the changing expectations of marketing and the shifts they are making to move into the role of business driver. https://cmo.deloitte.com/xc/en/pages/articles/the-cmo-shift-to-gaining-business-lift.html

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The CMO shift to gaining business lift

  1. 1. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 1 The CMO Shift to Gaining Business Lift Published December 2016
  2. 2. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 2 Research context The CMO Council and Deloitte embarked on this study to assess: • The CMO’s role in strategic business planning and development • The level to which they are embracing new technologies to increase customer engagement (“CX”) • Their new areas of responsibility and influence • Their path to delivering an engaged and relevant end-to-end customer journey Overview This report shares the results of a global survey of more than 200 CMOs and senior marketing leaders surveyed across industry sectors and geographies through one-on-one interviews and an online survey: • 53% of respondents hold a title of CMO or senior vice president of marketing within their organization • 33% of respondents hold positions at companies with $1 billion or more in revenue Approach
  3. 3. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 3 Marketing executives are expected to be growth drivers 48% Crafting growth strategies 44% Defining and shaping the brand 42% Executing campaigns 51% Rethink priorities and deliverables 49% Delegate more tasks 44% Add new skills to the organization Marketing executives plan to adapt to the new role requirements Marketing executives see their role as being a combination of
  4. 4. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 4 Marketing executives are expected to be growth drivers 27% Say the CMO is primarily responsible for growth strategies and revenue generation—inching above the CEO (21%) 68% Say being the growth driver is the top or one of the highest expectations by senior management and the board
  5. 5. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 5 Many CMOs aren’t spending time on the activities they care about… CMOs are not living out their role as growth drivers Want to spend the majority of their time Actually spend the majority of their time 66% 16% 58% 41% 24% 7% Teaming with leadership executives on global business and brand strategy Innovating and implementing new approaches, strategies, products and sales development programs Looking for strategic partnerships and alliances
  6. 6. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 6 …They are spending a significant amount of time on things they don’t want to be doing CMOs are not living out their role as growth drivers Want to spend the majority of their time Actually spend the majority of their time 16% 42% 11% 45% 8% 38% Attending meetings with peers inside the company Reviewing and approving plans, budgets, content and campaign elements Making a case for marketing spend and presenting plans/budgets
  7. 7. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 7 By shaping CX as a business driver rather than a collection of connected campaigns CMOs have the opportunity to become primary drivers of CX • The CMO’s role should include being an intelligence integrator, owning the insights and intelligence • CMOs must anticipate needs and suggest actions through more automation and intelligence 27% Serve as the primary architect and champion of CX 68% Continuously monitoring, assessing and evaluating CX
  8. 8. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 8 By shifting thinking, strategy, and investment around technology and culture CMOs have the opportunity to become primary drivers of CX • CMOs should get more involved in strategic technology investments • This will enable them to be more agile, knowledgeable and predictive 69% Want to move beyond keeping abreast of tech innovations, new contenders, and cultural shifts 33% Drive development of next-gen products, services, business models and CX
  9. 9. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 9 By communicating business impact in the language of the business CMOs have the opportunity to become primary drivers of CX • CMOs must quantify and clearly communicate the business value and financial impact of investments • Focusing on financially based marketing metrics will be the core to better communication with leadership 23% Say their marketing organization does well in quantifying and communicating the business value and financial impact
  10. 10. The CMO Shift to Gaining Business LiftCopyright © 2017 Deloitte Development LLC. All rights reserved. 10 Learn more WSJ CMO Article featuring Interactive Infographic WSJ CMO Article featuring Jennifer Lacks Kaplan’s Commentary Source: Deloitte / CMO Council Survey, conducted Q3 2016, a global survey of over 200 CMOs and senior marketing leaders. Full Report (PDF) Executive Perspectives Report (PDF) Data Visualization
  11. 11. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.. Copyright © 2017 Deloitte Development LLC. All rights reserved. 36 USC 220506

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