Recent joint survey results from Neolane and CMO Club show 90% of B2B CMOs are personally responsible for the overall customer experience of their brand, but most are not properly equipped to effectively execute these responsibilities due to existing obstacles.
Despite nearly all CMOs now being responsible for the customer experience, the data indicates just 11% have profit and loss responsibility. Pete Krainik, Founder and CEO, The CMO Club, says, "The number one challenge shared by CMOs is the changing role of marketing and to the ability to impact and lead the brands engagement with customers and overall customer experience. In our study we were surprised that only 11 percent have P&L responsibility. This lack of financial responsibility is likely hindering the CMOs credibility with their CEOs and boards. It also raises questions on the ability of many organizations to directly tie improved customer experience to profitable growth."
Surveyed CMOs cite a number of existing obstacles that currently stand in their way when trying to deliver a positive customer experience. Just more than half (51%) marked missing processes and accountability as an obstacle, followed by organizational siloes (42%), inaccurate or missing data (42%), changes in management or cultural issues (34%), and the inability to personalize experiences in real time (30%).
Stephan Dietrich, president, Neolane, Inc. says, “With consumer expectations rising, there is a greater need to deliver a relevant, personalized experience.” These survey results indicate CMOs need to be better equipped to fully take control of the overall customer experience.