“CMOs require a framework or platform that measures and confirms the performance and ROI of marketing operations”
By MYBRANDBOOK
Naved Chaudhary
Senior Marketing and Brand Management Specialist, Ingram Micro
The evolving role of CMOs
When CMOs take control of customer experience, they will be expected to make informed judgments about where to invest, which will need the use of measurement, metrics, and models to guide their marketing strategies and mix forecasts. It is practically hard to make the essential trade-off and allocation decisions necessary to stay competitive without data-driven models. CMOs require a framework or platform that measures and confirms the performance and ROI of marketing operations.
Contribution towards strategic business discussions
Many CMOs have increased their degree of influence inside their businesses by knowing more about the business, marketplace and customers. Chief marketers who have a strong point of view on consumer data and an effective stack of marketing technology may solidify their position at the C-suite table as the internal voice of the consumer and a significant growth engine for the company. By ensuring data-driven metrics lead marketing strategy, and translating consumer successes into measurable ROI, help their C-suite peers fully understand the value and role of the chief marketer.
Real-Time Marketing to Drive Sustainable Growth
With the epidemic last year, the rise of digitization and e-commerce accelerated, resulting in a true data explosion. As the dust settles, businesses are realizing how important marketing is to their success and how broad the CMO remit has grown. Data-driven marketing is practiced by a relatively limited number of marketers. They lead effective real-time marketing initiatives and get significant value from their implementation, resulting in improved business results and a well-rounded workforce with expertise in data and technology, as well as core marketing and soft skills.
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