CMO report shows marketers risk missing revenue targets
Chief Marketing Officer Council research has revealed that self-reliant buying and digital-first customer strategies have placed marketing at the center of sales action.
The CMO Council in partnership with Televerde published a new report titled,
Rising Above The Fray: How Marketers Can Right The Revenue Ship. The insights of the report are based on a survey of over 150 brand leaders and in-depth interviews with executives. Companies which participated include Cisco, F5, Pitney Bowes, Five9, PepsiCo and Henkel. This report details how the self-reliant buyer and digital-first customer journey has impacted sales action in a way that makes marketers responsible for nearly half of a company s revenue, as well as the pressure marketers are under to grow revenue. Scarce resources, mediocre data skills, and skeptical CEO s threaten to undermine marketing s efforts.
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SAN JOSE, Calif., March 2, 2021 /PRNewswire/ Today, the Chief Marketing Officer (CMO) Council, in collaboration with Deloitte Digital, published a new report – Humanizing + Analyzing Relationships To Drive Revenue, Retention And Returns. The new report details the challenges and best practices for segmenting customers and defining, measuring and tracking customer lifetime value (LTV).
The insights are based on a survey of over 150 brand leaders and in-depth interviews with executives from Informatica, PepsiCo, Electrolux and RedBubble. Download the full report at https://cmocouncil.org/thought-leadership/reports/humanizing-and-analyzing-relationships-to-drive-revenue-retention-and-returns.
The report found opportunity for improvement:
47% of marketers track LTV slightly well or not well at all