Given the growing need for organisations to deliver differentiated customer experience, improve marketing spend Return On Investment (ROI) and battle competition from newer technology incumbents, Chief Marketing Officers (CMOs) today are under increasing pressure.
In order to tackle this pressure, organisations are moving away from siloed Systems of Transaction and towards contextual Systems of Engagement.
Based on our ongoing tracking of the market and thousands of yearly CMO enquiries (of the total 10,000) which we handle, Greyhound Research believes these new systems are expected to help marketers manage experiences on non-traditional customer touch points like mobile devices, application marketplaces and online communities.
A Greyhound Research independent study titled, Emerging Markets CMO Priorities 2016, confirms this change.
Over 72% CMOs in the Asia Pacific Japan (APJ) region stated leveraging digital marketing for customer engagement as their top priority.
The same study proves that while nearly 100% marketing teams show a solid understanding of customer spend patterns, only 40% spend time and budget to map the changing technology ownership.
This exploration, Gogia believes, is imperative to gain grip on the new customer touch points and define the spend towards new contextual Systems of Engagement.
“CMOs must create an all-encompassing customer experience roadmap to help organisations achieve both presence and monetary outcomes from new customer touch points.”, said Anshoo Nandwaani, VP and Principal Analyst at Greyhound Research.
How Can CMOs Begin Creating Such Roadmaps?
To know more about the broader set of CMO challenges, how to redefine ROI metrics and onboard the Chief Information Officer (CIO) on this journey, read our freemium Greyhound Sprint Report titled, Delivering Customer Experiences That Bring Home The Dollars – A CMO’s Guidebook.
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