The race is on to be the CMO of the future
June 15, 2019
RESEARCH REPORT
In brief
In brief
- Accenture spoke to CMOs to find out what are their challenges, and how they are coping with the demands of their job in this age of disruption.
- We studied top marketing cities globally, Accenture uncover how these cities are positioning themselves and what their CMOs are getting right.
- Whilst New York remains the undisputed global marketing hub for most companies, Singapore tops in Asia- find out which cities make it to the top 10.
The role of the CMO has become more critical than ever.
In an age of disruption, businesses are faced with a host of new and unfamiliar challenges. Industries are being transformed amid technological advancements and rising competition, while stakeholders and customers are constantly demanding for more, with routes to markets becoming increasingly complex.
90%
of today’s CEOs and CMOs believe the function will change fundamentally over the next 3 years.
17%
of pioneering marketeers are now leading the way.
The role of the CMO has become critical, and its importance will only continue to grow as organisations become more and more customer-centric. In a world where the future is uncertain, the CMO gets the opportunity to chart new territory and break new ground. More importantly, he or she can effect change at the organisation and forge the way for the future.
Figure 1: Future state: How prepared are you and your current Marketing team to deliver the business objectives expected of you 3-5 years from now?
"In this race to the top, marketers have become critical. They have to anticipate the challenges ahead, stay close to their customers, and align their efforts to support the larger goals of the business."
– NILS MICHAELIS, Managing Director and Innovation Lead
Marketing as the architect for growth
Talent and new ways of work
Growth cannot happen if the marketing function is not resourced by the right skillset and talent—a key factor of success for companies.
The importance of digital
Technology is a missed opportunity for many companies—being unable to fully unlock its value to serve customers in new ways and increase revenue.
Regionalisation as the key to relevance
It allows marketers to get the freedom and agility to experiment with their strategies, and cater to their markets with a differentiated approach.
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The Future of Marketing in Singapore: What’s next?
The cradle of marketing leaders
Leverage on its broad consulting, academic and client-based ecosystem to position itself as the location for developing future marketing leaders.
A testbed for innovation
Being geographically contained and multi-cultural, it allows for rapid data collection and analysis, and quick iteration and rapid testing.
Becoming the “Silicon Valley” of marketing
With Singapore’s ability to attract some of the most influential actors in marketing, the country can forge an even better ecosystem for the future.
A MarTech powerhouse
The opportunity lies in showcasing how she is uniquely positioned to nurture innovative marketing solutions and strategies to stay competitive.
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