Post by account_disabled on Jan 9, 2024 19:46:52 GMT 14
CMOs in 2023: Challenges, Budgets, Digital Transformation & Skills ArticlesDigital Management and Leadership by Digital Marketing Institute The past few years have been a challenge for sectors across industries and for many marketers, this has seen their priorities, roles, and skill requirements change. At the helm of this marketing evolution are CMOs, Vice Presidents of Marketing, and Marketing Directors. Our new research ‘The Marketing Evolution: Leadership, Transformation, Skills, Challenges & the Future’ found that nearly half of senior marketers report their role has changed over the past two years while 53 percent are spending significantly more on digital marketing channels.
As senior leaders, their roles have changed to being business accelerators that Phone Number drive business growth and revenue. They also need to attract and retain the essential talent to compete in an increasingly demanding customer environment (with a focus on CX) and ecommerce driven landscape. So in this increasingly digitized world, what are the greatest challenges for marketers and the leaders that manage them? What are the greatest challenges for the marketing sector? online and offline channel available to attract and engage consumers. But as budgets get tighter and senior management demands data to make informed business decisions, this poses challenges for CMOs and other senior marketers.
Let’s look at four of the biggest challenges reported by our survey respondents. Why Choose DMI? 1) Delivering greater ROI on marketing budget With so much data available across digital channels to marketers, it’s become easier to measure a Return on Investment (ROI) on activities. But that also poses a challenge as 20 percent of senior marketers rate delivering a greater ROI on their marketing budget as the number one issue they face. ROI is crucial as it demonstrates the value of marketing activities and can help CMOs assess the effectiveness of every campaign. This will help them devise and implement better campaigns going forward based on reliable data. “Showing your ROI (is critical).