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

Blog Posts

Does your brand need a personality review?

There are five tell-tale signs your brand needs to take a long hard look at itself.

Charlie Rose

Senior Strategy Consultant, Principals

How to create profitable pricing

How do we price goods and services? As business leaders, we have asked ourselves this question since the history of trading.

Lee Naylor

Managing partner, The Leading Edge

Sport and sponsorship: The value of event sponsorship

Australia’s cricketers captured the nation’s attention during their recent run to the semi-final of the ICC Men’s World Cup. While the tournament ultimately ended in defeat, for over a month it provoked a sense of belonging, hope and empowerment for millions of people across Australia. Cricket, and sport in general, has a near-unique ability to empower individuals, irrelevant of their background, demographic or nationality.

Nikhil Arora

Vice-president and managing director, GoDaddy India

I should check these guidelines. I think it's important for me. Thanks for the info!

Juana Morales

IAB releases social media comment moderation guidelines

Read more

I didn't know about that. Thanks!

Jamison Herrmann

Twitter 'recap' helps you catch up with missed tweets

Read more

😂😂😂😂😂😂😂😂

Max Polding

What it takes to turnaround an iconic Australian brand

Read more

I spend a lot of time in my professional life as a provider of marketing solutions trying to persuade customers that CX, UX, UI and Custo...

sketharaman

Gartner VP: Why CMOs and CIOs must band together to make CX a discipline

Read more

I live the best deals at LA Police Gear.

Tyrus Rechs

6 Ways to ramp up Social Media to Your Web Design

Read more

Latest Podcast

More podcasts

Sign in