Friday, August 13, 2010

Rocky Road for Today's CMO

Life sure isn't easy for today's chief marketing officer (CMO).

Let's start with customer expectations. According to a new report from Accenture entitled "Onward and Up: How Marketers Are Refocusing the Front Office for Growth," surveyed CMOs have grown increasingly frustrated with the rapidly escalating demands customers have for product quality, value and customer service.

Then there's the requirement on CMOs to deliver greater impact across the organization with flat and, in some instances, declining resources. Eight out of ten marketers queried by Accenture expect little, no or a decrease in budget.

Accenture managing director Dave Rich told Brandweek magazine:

"Marketers must meet today's challenges with laser-focused precision that is guided by insights from robust customer analytics capabilities that inform decisions about who they should target through what channels and with which messages. Investing in these capabilities will enable marketers to move to a much more focused approach that will increase effectiveness, support more streamlined programs and free up cash that can be reinvested smartly to help fuel growth."

I'm not sure what that exactly means, yet it definitely sounds challenging.

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