Customer empowerment is heightening the job security risks of chief marketing officers.
Chief marketing officers are struggling to keep up with new digitally driven ways to engage, satisfy and enrich the experience of more mobile, savvy and fickle consumers. According to this study from the CMO Council, 75 percent of CMOs believe their jobs are on the line if their customer experience strategies are unsuccessful. Moreover, nearly half of marketing respondents believe it is possible their jobs will be at risk should technology investments fail, even though there are other factors that have a direct impact on the role.
The report that follows is based on insights from more than 200 senior marketing executives in primarily consumer-facing industries, including retail, consumer products, food and beverage, retail banking, consumer insurance, and travel and hospitality. Some 70 percent of respondents have a title of CMO, general manager of marketing or senior vice president of marketing, and 57 percent hail from organizations with annual revenues of more than $1 billion.
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