CMOs facing identity crisis: report

Latest EIU and SAS report on manufacturing CMOs shows lack of understanding and belief in their abilities from the rest of the C-suite

A new vendor-sponsored report claims chief marketing officers at manufacturing companies are in the midst of an identity crisis as they struggle to deliver a satisfying customer experience.

Two new whitepapers, undertaken by the Economist Intelligence Unit (EIU) and sponsored by software vendor SAS, comes off the back of the EIU’s report last year, Outside looking in: The CMO struggles to get in sync with the C-suite .

Fifty-eight per cent of manufacturing marketing chiefs believe they are good at delivering customer insights that drive business, but only 43 per cent of their other C-level executives agree. In addition, EIU found 78 per cent of manufacturing CMOs claim to have a clear understanding of their customers’ needs, against 47 per cent of their executive peers.

In another sign of the disconnect between manufacturing CMOs and their executive peers, 18 per cent of CMOs surveyed claimed to be “excellent” and 38 per cent “good” at establishing a clear business case for new marketing investments, yet only one-third of C-suite respondents agreed. Twenty-eight per cent said CMOs in fact lacked ability in this area.

The EIU report also found 55 per cent of surveyed CMOs reported the performance of their company’s marketing investments was ahead of peers in the last year, but only 30 per cent of other executives agreed.

The results are yet another indication of how CMOs are struggling to define their role both to within their own function, as well as to their executive peers. In the original EIU survey on the relationship between CMOs and the c-suite, released last July, the research firm claimed to be alarmed by the lack of clear consensus on marketing’s top priority, as indicated by a host of results across all industry sectors.

For example, 19 per cent of CMOs said driving revenue growth was their top priority against 30 per cent of other C-suite executives. Twenty-two per cent of marketers also claimed creating new products and services was the top priority, yet just nine per cent of their C-level peers agreed.

In addition, 70 per cent of CMOs believe they should play a lead or key role in selecting new markets to enter, compared with 56 per cent of their C-suite peers. Nearly half those surveyed also claimed a disconnect over what marketing should be delivering.

“Part of the issue may be that the CMOs oversees what is arguably the broadest and most dynamic mix of disciplines among all c-suite positions,” the original EIU report stated. “While this far-reaching portfolio presents an opportunity for CMOs to increase marketing’s influence across an organisation, it also highlights their greatest challenge: getting everyone to agree on marketing’s priorities.”

The key lies in connecting customer insights to strategic business innovation across all channels and functions, the EIU report stated.

“If marketing can provide a more comprehensive view of how a customer interacts with the business as a whole, it stands to gain more credibility and more influence in driving strategic change.”

EIU’s report was based on responses from 389 executives across the world, followed by a series of in-depth interviews.

More on the CMO role

Follow CMO on Twitter: @CMOAustralia or take part in the CMO Australia conversation on LinkedIn: CMO Australia.

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

Launch marketing council Episode 5: Retailer and supplier

In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.

More Videos

The best part: optimizing your site for SEO enables you to generate high traffic, and hence free B2B lead generation. This is done throug...

Sergiu Alexei

The top 6 content challenges facing B2B firms

Read more

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Check out tiny twig for comfy and soft organic baby clothes.

Morgan mendoza

Binge and The Iconic launch Inactivewear clothing line

Read more

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training

Infosectrain01

3 ways Booking.com is improving its B2B marketing game

Read more

Blog Posts

Getting privacy right in a first-party data world

With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.

Furqan Wasif

Head of biddable media, Tug

​Beyond greenwashing: Why brands need to get their house in order first

Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.

Craig Flanders

CEO, Spinach

​The value of collaboration: how to keep it together

Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.

Rich Curtis

CEO, FutureBrand A/NZ

Sign in