A recent report by Oracle found that few CMOs claim to offer a consistently engaging and personalized customer experience across all channels. More than 20% of the CMOs surveyed said they had trouble understanding their customers’ experience end to end, and needed help in evaluating new marketing technologies.
The CMO Solution Guide to Leveraging New Technology and Marketing Platforms was produced by The CMO Club, a community of senior marketing executives, in association with Oracle Marketing Cloud, and was based on a survey of 110 CMOs.
In the report, Mayur Gupta, global head of marketing technology and innovation at Kimberly-Clark said: "Most brands and marketers only utilize 15% of technologies and capabilities they are already paying for, so the focus should not be in the number of technologies that need to adopted, but in applying them to solve business
needs and changing consumer behaviors."
One CMO surveyed noted: "I need help with such things as evaluating which analytics to use to best match up to my goals."
The report describes the basic architecture of marketing tech – marketing data, applications, and media, and suggests CMOs need to focus on five solution areas: data management platforms; cross-channel marketing; content marketing; social marketing; and analytics and testing.
It also argues for a modular infrastructure, designed to evolve over time as new opportunities and technologies arise. This implies adopting an open-platform architecture, affording the ability to integrate third-party applications and data quickly and seamlessly into your marketing platform so you are not limited to vendor-specific applications.
A clear majority of CMOs expected their role to expand in the next five years, as the customer experience becomes a key part of brand building, and platforms and tools make it easier to measure success.