Today’s CMOs (Chief Marketing Officers) face one of the most precarious jobs in the C-suite. According to Spencer Stuart, the average tenure for a CMO is just 23 months, and only 1 in 10 keep their jobs for more than three years. Today’s CMOs are challenged with extending their market reach, acquiring an integrated view of the customer, compressing the design-to-execution cycle to improve time to market, leveraging low-cost Web and e-mail media, measuring results from marketing campaigns, and justifying marketing ROI (return on investment).
The CMO Council (www.cmocouncil.org) is a peer-powered affinity network of top marketing decision-makers. Its 3,000-plus members control $70 billion in annual marketing spend, and its authority leadership programs are funded by global consultants, media, and brands.
According to the CMO Council’s 2008 Marketing Outlook Survey, the top issues and challenges facing global marketers are:
- Quantifying and measuring the value of marketing programs and investments
- Growing customer knowledge, insight, and conversations
- Upgrading the efficiency and effectiveness of the marketing organization
The respondents to the CMO Council’s 2008 survey cited e-mail campaign management as the top automated solution to be deployed in 2008. Overall, the top planned marketing solutions and services for 2008 were:
- E-mail campaign management
- Customer relationship management
- Customer intelligence and analytics
- Sales and marketing integration tools
- Lead nurturing
- Search engine marketing
- Web analytics
These CMOs are voting with their dollars. They are allocating their budgets to ensure that they improve measurability, increase marketing effectiveness, and drive overall business results.