CMOs require analytical and data management framework: Gartner

New research also find marketing chiefs will need to surround themselves with an insights-based team to make sense of rising levels of data intelligently if they are to succeed

CMOs need to create an analytical framework and master data management strategy, as well as build an insight-based team, if they’re to successfully do the job confronting them today, a new report claims.

According to Gartner’s new A Marketing Analytics Framework for CMOs, sponsored by Adobe, the data marketing chiefs require in order to make marketing decisions that drive effectiveness and improve efficiency not only resides in marketing and IT systems, but also across external IT and agencies, marketing service providers and third-party data providers.

The marketing analytics processes needed today also vary greatly in sophistication from measurement and reporting through to predictive modelling, forecasting and constraint-based optimisation. This juxtaposition of data and analytical capabilities means CMOs will not have the time or skills to perform all necessary in-depth analysis, and will increasingly rely on both a marketing insights team as well as company peers to help plan, execute and operate their strategy.

“CMOs must work with other business leaders such as the CFO and heads of customer service, sales, ecommerce and customer experience to align business goals and measure marketing’s objectives across business domains,” the report stated.

Among Gartner’s key recommendations to CMOs are to create an analytical framework for each key decision or process required, along with a master data management strategy for managing various sources of data. It also advocated a dashboard with visualisation capabilities to pool all analysis, allowing heads of marketing to quickly make and communicate relevant insights.

“CMOs are under tremendous pressure to be more accountable, measure marketing performance and optimise the marketing mix,” the report authors stated. “They need instant access to information and insight to make more informed decisions, strategically plan and measure return on marketing investments. CMOs require insights into both marketing execution and marketing operations.”

The Garner report also sought to identify key execution and operational responsibilities of today’s CMO, along with the types of decisions, information and analysis requirements they need to consider.

For customer lifecycle management for example, CMOs must be able to identify customers and customer segments to acquire, retain, grow or allow to exit. This requires accessing information from a customer database or data warehouse, third-party customer data, transactional systems and social media data.

Analytical capabilities that make best use of this information include customer segmentation and profitability analysis, predictive modelling for opportunity, customer profiling and psychometric analysis, social analytics, report and analysis on customer segments or targeted groups and retention and attribution data.

To turn all of this into relevant business analytics, CMOs require marketing dashboards and performance management solutions, campaign management, contact centre desktop agent, sales force automation and an operational data store or customer hub, Gartner stated.

Other key processes CMOs need to take a similar execution approach to include competitive intelligence, creative advertising and media planning, customer programs, and event, lead, marketing, promotion and market management.

Operational challenges include financial management, strategic and resource planning, project management, marketing fulfilment, and marketing content and asset management.

Read the full Gartner/Adobe report here.

Follow CMO World on Twitter: @CMOAustralia.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Conversations over a cuppa with CMO: Microsoft's Pip Arthur

​In this latest episode of our conversations over a cuppa with CMO, we catch up with the delightful Pip Arthur, Microsoft Australia's chief marketing officer and communications director, to talk about thinking differently, delivering on B2B connection in the crisis, brand purpose and marketing transformation.

More Videos

Did anyone proofread this document before it was published?

Beau Ushay

CMO Momentum 2020: How to embrace agile marketing

Read more

he decision to limit the initial version of the code to two US companies is discriminatory and will inevitably give an unfair advantage t...

Azeem Sohail

Google hits out at ACCC draft code of conduct for news media negotiations

Read more

You’re a warrior woman from way back. Just let the muscle memory take over!

Hannah Sturrock

Why fear trumps marketing theory - Marketing edge - CMO Australia

Read more

What an inspiring piece of writing, Hannah, thank you so much for sharing! All right, team jersey out of the locker, brains on, eye of th...

Myriam Conrie

Why fear trumps marketing theory - Marketing edge - CMO Australia

Read more

Thanks for the post

Ashirwad Towers

How a brand facelift and content strategy turned real estate software, Rockend, around

Read more

Blog Posts

Creating a culture club builds ownership of teamwork

Workplace cultures are the sum of everyone’s beliefs, behaviours, attitudes and skills. This means that no single person is responsible for culture, it belongs to the team.

Colin D Ellis

Culture change expert, author

A Brand for social justice

In 2020, brands did something they’d never done before: They spoke up about race.

Dipanjan Chatterjee and Xiaofeng Wang

VP and principal analyst and senior analyst, Forrester

Determining our Humanity

‘Business as unusual’ is a term my organisation has adopted to describe the professional aftermath of COVID-19 and the rest of the tragic events this year. Social distancing, perspex screens at counters and masks in all manner of situations have introduced us to a world we were never familiar with. But, as we keep being reminded, this is the new normal. This is the world we created. Yet we also have the opportunity to create something else.

Katja Forbes

Managing director of Designit, Australia and New Zealand

Sign in