Here are the highlights of our 2nd annual CMO Trends study. While I put the finishing touches on the white paper, I thought you’d like a sneak peek into what we learned:
- Fifty-five CMOs responded, representing a wide range of industries. They include academic, software, trade associations, real estate, financial services, cybersecurity, media, pharma, and hospitality.
- CMOs told us that the 3 terrible t’s haunting marketing leaders in their daily roles include:
- Too many projects and priorities and too few resources
- Chronic perception and treatment of marketing as a cost center, as witnessed by the ongoing difficulty of demonstrating value
- Technology overload (often driven by a surfeit of disparate customer data)
- When asked the most pressing challenge they personally face, respondents said that “changing customer perceptions of the value we offer” ranked the highest.
- Only half of the respondents are willing to take action within the next 90 days to invest funds to address their biggest challenges.
- To address these challenges, 19% of respondents plan to invest more funds in marketing operations. These areas include lead scoring, demand creation, and predictive analytics. The 2nd highest percentage (11%) plan on seeking a new position elsewhere.
- Private, face to face peers discussions (47%) and webinars (35.8%) are the two most favored methods for sharing and addressing confidential challenges and professional development.
I noticed a number of changes in the challenges CMOs are facing this year. I will report on those in greater detail when the report is published this month.
If you are curious to learn how these marketing leadership trends compare to the 2013 results, I invite you to download our previous CMO Trends Report. Once you have registered, you will automatically receive the newest report in the coming weeks.