Big Data Taking CMOs Higher Up the Corporate Ladder
FREMONT, CA: Chief Marketing Officers’ aspirations have evolved and their strategies are set to be more aggressive this year. They are making a conscious effort to increase their influence in the C-suite, and at the heart of it all is Big Data, reveals a recent Heidrick & Struggles and Forrester Research survey.
The joint study shows, nearly 60 percent of the surveyed CMOs are working to make their presence felt within the C-suite, with more than half of them recognizing that relationships with fellow C-level executives is vital to the success of the organization. Whereas in 2011, only 30 percent saw CMO-CIO relationship as an essential part of their business practice.
Customer Relationship Management is also playing a central role in CMOs push forward as a business leader. Even though 73 percent of them are on the same page regarding the importance of having a single view of the customer, less than 20 percent have actually achieved this goal.
Big Data analytics is set to play a pivotal role in the executives’ plan to enhance customer experience, but a vast majority finds the quality in customer data collected to be subpar. More than half of them state that they rarely use Big Data as they lack the necessary technology that provides a single view of the customer.
“In the age of the customer, newly empowered consumers are in the driver’s seat. So, a customer obsession is the most important strategic imperative for the CMO,” says Sheryl Pattek, Vice President and Principal Analyst at Forrester.