Say goodbye to the traditional chief marketing officer – the modern role should be that of the CMO collaborator, according to new global research from Accenture.
The Accenture Interactive report, "Rethink the Role of the CMO," which was conducted by Forrester Consulting, reveals that marketing chiefs are seen as the bridge between different lines of business by 90 percent of organizations.
Additionally, 87 percent of organizations say that traditional customers are no longer satisfied with just traditional experiences, according to the study, which included responses from 250 senior level marketing decision makers across an array of industries in the U.S., Canada, U.K., Germany and Australia.
Perhaps unsurprisingly, nearly nine out of 10 people surveyed (88 percent) said their CMOs remits have changed over the last two years, and they believe the responsibilities will continue changing for the next 24 months.
More than half (52 percent) of organizations say that their CMO demands collaboration between their team and their agency partners.
Accenture believes that the changing industry landscape is providing CMOs with the opportunity to grow their posts beyond traditional advertising and evolve their customers’ experiences. The organization’s research showed that a one-point increase in customer experience scores can lead to between $10 million and $100 million in annual revenue.
"Each time the CEO creates a new c-suite title it’s often code for the fact that he or she feels that nobody is successfully driving the customer experience agenda," said Glen Hartman, head of Accenture Interactive North America, in a statement. "We believe that by thinking like a CMO Collaborator, CMOs can fulfill their potential and seize the CX agenda to drive top-line growth for organizations."