Chief marketing officers (CMOs) say they are expected to simultaneously retain customers, increase brand awareness, improve customer satisfaction, and increase customer profitability, according to a recent report from Oracle Marketing Cloud and the Aberdeen Group.
The report was based on data from a survey of 447 marketers at B2B, B2C, and mixed-model (B2B and B2C) companies from around the world (57% based in the Americas; 29%, EMEA; 14%, APAC).
Some 81% of senior marketers surveyed say retaining customers is one of their top agenda items; increasing brand awareness is the next most common goal (74% cite), followed by improving customer satisfaction (67%) and increasing customer profitability (54%).
Below, additional key findings from the report.
More than half (55%) of respondents say a top challenge is meeting the needs of modern buyers who have access to a wealth of information about competing products/services.
Some 40% of respondents say they struggle to create enough content for their marketing efforts.
As part of their analysis, the researchers examined what differentiates the data strategies of the best-in-class performing companies—those who self-report being in the top 20% in customer retention, revenue growth, profit margin, and response time to customer needs.
The analysis found best-in-class marketers are more likely to use customer feedback to develop new products/services (61% do so vs. 40% of those not best-in-class), provide internal stakeholders with tailored views of data (61% vs. 35%), standardize customer data across the business (51% vs. 39%), and integrate customer feedback into business decision making (50% vs. 37%).
About the research: The report was based on data from a survey of 447 marketers at B2B, B2C, and mixed-model (B2B and B2C) companies from around the world (57% based in the Americas, 29% EMEA, 14% APAC).
Continue reading "CMOs' Top Goals and Challenges" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may like these other MarketingProfs articles related to Marketing Strategy:
- Five Tips for Creating a Successful B2B Marketing Campaign
- Are You Making the Right B2B Martech Investments to Optimize for Agile Methods?
- Creating a Better Audience Experience: Oli Gardner on Marketing Smarts [Podcast]
- How Senior Marketers Set Their Budgets
- Four Ways to Reduce Churn and Create a Companywide Culture of Customer Success