Canadian organizations are divided on the role marketing should play in managing disruptive growth. Nearly two-thirds (61 percent) of Chief Marketing Officers surveyed say they are most responsible for managing disruptive growth, while only 27 percent of Chief Executive Officers agree. The CMO Insights survey highlights the need for marketing leadership to pivot to become more data driven and seize the opportunity to take control of the disruptive growth agenda. If they don't, organizations risk losing customers and clients to new, disruptive competitors.
Canadian CMOs who want to reach their potential and move into a disruptive growth role can do so by:
Aligning with IT: Eighty-one percent of Canadian CMOs acknowledge the need for marketing / IT alignment and interaction, but 50 percent say the marketing team operates largely independent of IT teams. Alignment is critical due to the fact that technology now underpins and shapes the entire customer experience.
Leveraging intelligent automation and integrating analytic capabilities: Canadian companies are on the journey to leverage analytics, AI and automation and some of the best sources for insights fall in the marketing space. The ability to extract and translate customer and marketing data (e.g. Big Data) into actionable insights must be part of Canadian CMOs’ overall business strategies.
Understanding the complexity of the change involved: More CEOs than CMOs see the marketing function fundamentally changing across a variety of areas over the course of the next five years including how resources will be aligned, how their company will engage customers and the role analytic skills will play. CMOs must align their vision for the future with the CEO to have organizational success.
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