Marketers often have several priorities at the top of their minds when it comes to their daily strategies, but what about CMOs?
To gauge what CMOs focus on daily and how they are preparing for the future, the CMO Council recently published the “CMO Council 2019 Outlook + Intentions” infographic. Statistics showed that improving go-to-market processes and digital marketing capabilities (40 percent) is far-and-wide the top priority among CMOs, specifically for 2019.
Finding new sources of revenue and improving retention/monetization (33 percent), as well as generating more customer conversion and lifetime value are also at the top of CMOs’ minds on a regular basis.
When it comes to obstacles to achieving these objectives, CMOs named internal skill set (43 percent), followed by data that is not unified (40 percent) and leadership’s appetite for making investments when return is not immediately obvious (36 percent).
CMOs and the Need for Greater Efficiency
Overall, efficiency remains a top concern for marketers, and this is especially true among CMOs, according to previous research.
Forbes Insights and The Trade Desk recently published “The Modern CMO” report, and data indicated that efficiency in marketing (46 percent) is the leading topic at the front of marketers’ minds heading into the next 12 months. Additionally, efficiency in marketing (25 percent) is the biggest thing that CMOs feel like they need to hone in on for the sake of their own development.
“Simply put, CMOs will need to account for how well their technology investments are performing,” wrote the authors of the report.