According to the report, ‘resiliency’ and ‘adaptability’ are rated higher than ever across australia’s marketing leadership. On the other hand, marketing’s stature as a business leader and partner appeared to have declined somewhat after the first month of rapid customer and product innovation driven by the covid-19 pandemic.
These are some of the main findings found in the 5th ‘cmo status report’ . The purpose of this report is to understand how australian marketing executives are evolving in terms of their job roles and contributions to the business. To do this, we examined key aspects of the cmo’s current position and marketing function, including the marketing leader’s position within the organization, technology procurement and influence, job responsibilities and jurisdiction, and impact as a digital account manager.
On the bright side, resilience and adaptability were both highly rated across cmos, the report said. Nine out of 10 respondents to this year’s survey rated resilience as a 4 or 5 out of 5. 51% gave it a perfect score for adaptability. Overall, the report added, leadership scores improved year-over-year (including commercial acumen, which more than a third rated 5 out of 5).
The Cmo Status Report’ Revealed That The Marketing Budget Was Not Worse Than Expected
Nearly half (48%) said their marketing budget had increased compared to before the covid-19 crisis.
Meanwhile, in the results of last year’s Niger Email List survey, the status of marketing increased, whereas this year’s figure declined. More than half of all respondents said pressure from boards and ceos to prove the value of marketing has increased over the past 12 months.. It has increased somewhat from 2 years and 11 months in 2020. Also, the biggest job obstacle was information technology (25%).
The ‘cmo Status Report’ Revealed That The Marketing Budget Was Not Worse Than Expected
Cross-departmental collaboration is also CH Leads becoming more important, according to the survey. This year’s report found that customer lifetime value (clv) is growing in importance, with 17% of cmos using the relevant metrics to demonstrate performance to the ceo/board. Another 32% said they were using clv to demonstrate the value of marketing.
According to the report, many cmos were responsible for the customer experience. 4 out of 10 said they were directly responsible for managing (the customer experience). This is similar to the 2020 results.
It is clear that content and technology are important in facilitating these customer connections. Additionally, more than half (57%) said they have dedicated skills for managing customers.