Report: Broader remit sees CMOs struggling to meet expectations
- 20 June, 2018 10:00
The broader remit of CMOs to include customer experience (CX) and technology may be hampering their ability to achieve basic marketing requirements, such as brand consistency, according to a recent report.
Almost two in three marketers have expanded their responsibilities beyond marketing to include managing CX, but the same proportion still struggle to meet basic brand governance expectations, new research from Simple and the Australian Marketing Institute has found.
The report, MRM in the Age of Intelligence, reveals marketers also find it difficult to obtain a big-picture view of key marketing activities, such as planning, budgeting, governance, and workflow.
A significant majority (59 per cent) of marketers reported responsibility for managing CX now rested with the CMO or marketing team, and that marketing teams often rely on static processes to manage fluid and evolving brand and CX, which limits their ability to manage brand governance and the customer experience effectively.
“In order to remain agile, process optimisation should be a priority for marketers,” Australian Marketing Institute chief executive officer, Lee Tonitto, said.
“It’s essential to take a disciplined approach to marketing resource management as marketers broaden their remit to managing the customer experience.”
Just over half (51 per cent) use more than 10 channels to market, 28 per cent have more than five agency partners, and 56 per cent use more than 10 technology solutions.
While almost nine in 10 (87 per cent) rated brand consistency as extremely or very important, only 59 per cent rated their messaging as moderately consistent at best, 56 per cent rated their brand’s visual appearance as moderately/somewhat or not at all consistent, and 51 per cent rated brand personality as moderately/somewhat or not at all consistent.
Only 13 per cent easily monitor their spending against budget, only 10 per cent say their primary planning tool provides an up-to-date view of their marketing plan, and 51 per cent don’t monitor their marketing process at all. Despite this, 26 per cent of marketing teams employ at least some agile marketing processes.
Almost two in three marketers (62 per cent) say their marketing activity is at best moderately aligned with their organisation’s business objectives, and just 38 per cent say their marketing is very or extremely consistent with those business objectives.
“Managing the customer experience is looming as the key challenge chief marketing officers face in the next few years, but marketing teams must get their upstream planning and brand governance right so they can broaden their remit effectively,” Simple chief executive officer, Aden Forrest, said.
When it comes to artificial intelligence (AI), the research showed three in four would use AI to suggest the most effective insights based on previous campaigns, 72 per cent would use it to improve the return on marketing investment, but this is made difficult by the fact that one in two cannot capture campaign results in their planning tool.
The study looked at how marketing teams are managing the customer experience and using people, partners and technology to plan and create marketing content efficiently, drive agility and improve the return on marketing investment -- operational issues traditionally encompassed by marketing resource management.