Chief marketing officers are increasingly being held responsible for growth strategies and revenue generation within their companies, according to recent research from the CMO Council and Deloitte.
The report was based on data from a survey conducted in 3Q16 of 200 global CMOs/senior marketers (VP of Marketing, etc.). One-third of respondents work for companies with $1 billion or more in annual revenue.
A similar survey conducted by the CMO Council in 2006 found that senior marketers viewed their primary responsibilities as executing marketing plans/strategies, serving as brand ombudsmen, and delivering competitive intelligence to their organizations.
In addition to those responsibilities, CMOs say, they are now also expected to advance the bottom line and champion the end-to-end customer experience.
Some 35% of respondents say revenue is a major responsibility of their role, and 33% say it is their primary mandate.
CMOs say the most effective campaign strategies for increasing revenue/margins are to use data to maximize the effectiveness of spend and to embrace new digital advertising and engagement technologies.
About the research: The report was based on data from a survey conducted in 3Q16 of 200 global CMOs/senior marketers (VP of Marketing, etc.). A third of respondents work for companies with $1 billion or more in annual revenue.
Source: Britannia Communications/CMO Council/Deloitte.
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