Overwhelmingly, CMOs say they are not yet delivering on the promise of personalisation, and many are struggling to demonstrate ROI to their executive teams. These are two key take-outs from an Argyle Executive Forum report in partnership with Oracle Marketing Cloud.
The move to delivering seamless omnichannel experiences also registers as a concern.
The report is based on responses from top marketing chiefs from America, in a bid to discover the challenges facing CMOs as they attempt to decipher and leverage data. The findings are consistent with recent Oracle Marketing Cloud research in the Asia Pacific region into the CMO of Tomorrow.
It is imperative that marketers drive personalisation and also demonstrate clear ROI to the executive team, the authors said.
Return on what?
One in three CMOs identify ‘demonstrating ROI to executives’ as their top challenge, the report claims. ‘Properly translating data’ and ‘incorporating appropriate technology’ were also significant concerns.
In 2017, CMOs will be focused on data and the customer experience, with two thirds indicating they are “focusing on further transitioning into a data-driven department and seamless omni-channel customer experiences,” the report reads.
Give me an A, give me …
Despite an abundance of data available to modern CMOs, data in the report found that “nearly half of marketing teams do not yet practice A/B testing”. However, 24 per cent of CMOs are conducting A/B on a monthly basis.
There appears to be a lot of room for improvement, with 76 per cent of marketing leaders estimating that their customers “currently receive little to no personalised information,” according to the report. Only four per cent believe that most of the information their customers receive is personalised.
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