New research from the Association for Data-Driven Marketing and Advertising (ADMA) and Oracle Marketing Cloud reveals how data-driven marketing and a focus on customer experience will change how the marketing chiefs of tomorrow operate.
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“The results on a new piece of research that ADMA has done in partnership with Oracle, looks at the future CMOs, the CMO of tomorrow,” said ADMA CEO Jodie Sangster, speaking as the Oracle marketing meet up.
Sangster told the 300 attendees at the event that the new research when combined with other global studies provides an insight into “…what’s happening in data-driven marketing and how is that being adopted and what are the challenges there.”
“This is a really challenging time for data-driven marketing, because it’s changing so quickly. So the minute that we think we’re up to speed and we’ve got there, something new comes up and we have to then re-educate ourselves. We have to make sure that we’re staying a step ahead of the curve,” she said.
According to Sangster, there has been a shift in focus from marketing to customer experience.
Marketers alone can not be responsible for delivering excellent customer experience, she said.
“The whole company has to sit behind customer experience to truly make that customer’s experience exceptional,” she said.
(ADMA CEO Jodie Sangster)
The CMOs of the future will require new skills, Sangster said; “It’s about being a consumer advocate with authority across much broader parts of the business, in order to deliver a customer experience at each of those hot points.”
One of the new challenges for future CMOs will be reducing the disparity between what business leaders and marketers see as the critical metric, according to the research.
Sangster said “We seem to have a huge disconnect where we’ve got business leaders saying, ‘absolutely, our marketing is measured by return on investment,’ but if you look at the marketing teams, that doesn’t seem to be what their key metric is.”
The research says there is a discrepancy between the ability to utilise the data and the confidence marketers have in that data.
“The amount of data that we have out there is infinite. But how do you rate your ability to work and how to gain the insights from data are two different things,” Sangster said.
“The more senior the executive, the more confident they are that the organisation actually has the ability to gain insights from data. So the C-suite is thinking; This is fantastic… then, the marketers going; I think we could be doing more here.”