I’m currently researching the challenges which matter most to CMO’s across the world, and across different industries. My findings have been quite varied, but the most consistent insights seem to have come from the research company Forrester ~ so I thought it only polite to share…
This is what Forrester think are the top CMO priorities for 2016/17:
- Disrupt leadership: CEOs will need to consider significant changes to their leadership teams to win a customer-led, digital market; CEOs that hang on to leadership structures to simply preserve current power structures will create unnecessary risk. Institute a customer-obsessed operating model: Companies that shift to customer-obsessed operations will gain sustainable differentiation; those that preserve old ways of doing business will begin the slow process of failing.
- Connect culture to business success: Those that invest in culture to fuel change will gain significant speed in the market; those that avoid or defer culture investments will lose ground in the market.
- Personalize the customer experience (CX): Customers will reward companies that anticipate their individual needs and punish those that have to relearn basic information at each touchpoint.
- Implement multidiscipline CX strategies: Companies that transform operations to deliver high-value, personalized experiences will drive a wedge between themselves and laggards just executing CX tactics.
- Operate at the speed of disruptors: Leaders will animate their scale, brand, and data while operating at the speed of disruptors; laggards will continue to be surprised and play defense in the market.
- Evolve loyalty programs: Companies that find ways for customers to participate with their brand and in product design will experience new and powerful levels of affinity; companies that try to optimize existing loyalty programs will see little impact to affinity or revenue.
- Convert analytics to customer value: Leaders will use analytics as a competitive asset to deliver personalized services across human and digital touchpoints; laggards will drown in big data.
- Master digital: Companies that become experts in digital will further differentiate themselves from those that dabble in a set of digital services that merely decorate their traditional business.
- Elevate privacy as a differentiator: Leaders will extend privacy from a risk and legal consideration to a position to win customers; companies that relegate privacy as a niche consideration will play defense and face churn risk.
If this is your thing, it might be worth downloading the full Forrester report here >>
A MARKETING MANIFESTO