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What kind of CMO are you?

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There are three main types of CMOs – traditionalists, social strategists and digital pacesetters – when it comes to integrating digital in a business.Three types of CMOsTraditionalists are challenged by the data explosion, the growth in social media and the plethora of new channels and devices. They have yet to integrate their physical and digital sales and service channels; seldom engage with customers via social networks; and rarely use analytics to extract insights from the customer data they collect.Social strategists, on the other hand, have passed the first few milestones. They’ve recognised social media’s potential as a vehicle for engaging with customers, and they’re building the infrastructure they’ll need to operate in the social arena. But they have not begun to exploit the opportunities arising from the data explosion and advanced analytics.As for digital pacesetters, they are reasonably prepared for the data explosion and well-placed to handle the increasingly heavy social and mobile traffic from a growing range of devices. They are also actively putting in place the resources required to operate as a fully integrated physical-digital enterprise, and regularly use analytics to generate insights from customer data.These were the three main profiles of CMOs identified by IBM in its study of more than 500 CMOs across 56 countries and 19 industries worldwide, including Asia Pacific and Japan. The study, “Stepping up to the challenge: How CMOs can start to close the aspirational gap”, is part of its C-suite studies.And there’s a close link between the degree of digital acumen CMOs display and the financial performance of the enterprises for which they work, said the study.Forty three per cent of the outperformers in the study are digital pacesetters, compared with just 25% of traditionalists, while 31% of outperformers are social strategists.Succeeding in a digital world takes three prerequisites: using data analytics to get a much deeper understanding of customers, individually as well as collectively; designing rewarding customer experiences; and capitalising on new technologies to provide those experiences smartly and efficiently, said the study.Rising influence of CMOsOther insights from the study were that 63% of CEOs lean on CMOs to help formulate their business strategy, concluding that the influence of CMOs within their organisation is increasing. This is second only to the CFO (72%). (Pictured in figure one).It also found that when a CMO has a close working relationship with the CIO, the enterprise is more likely to perform better overall. High-performing CMOs were reported to have a stronger working relationship with CIOs than those identified as financial under performers.The study also found that CMOs today are less concerned with both monitoring their brand via social media and trying to monetise social media.In addition, 94% of marketing leaders believe that mobile applications will play a significant role in helping them reach their goals over the next three to five years, which is up from 80% from three years before.[Image: Shutterstock]

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