An article recently published in Forbes highlights the findings from a Economist Intelligence Unit report called “Outside looking in: The CMO struggles to get in sync with the C-suite”. The upshot is there is little agreement between CMOs and their fellow C-suiters about the former’s role and performance metrics. The problem, of course, is that disparate visions lead to confusion, not success.
Contributor Lisa Arthur, CMO at Aprimo, points out three major areas CMO’s need to address in 2013 to find and hang onto relevance among their C-suite colleagues. Would you be surprised to find that data and technology are at the core:
- Data-driven marketing is critical to driving relevance
- Most new investments will be focused around technology
- Consistent, personalized, customer-centric marketing requires integration, collaboration and tech expertise
We’ve been talking about “Big Data” for quite a while and it looks like 2013 is the year technology will catch up and allow marketers to finally tap into power of all that data they’ve been collecting. After all, all the bits and bytes are no good if you can’t use them to understand your customers and deliver products, services, and offers that are relevant to them.
If there’s a bottom line to the article it comes back to the age-old challenge in marketing: Proving the value, i.e. revenue, of the investment in marketing. Getting a handle on the data and technology, and using the lessons learned to drive revenue will help COMs overcome the challenge and give them an equal seat at the C-level table.
Update: The report from EIU can be downloaded here.