A recent survey (requires email to download) from Neolane and The CMO Club found that 9 out of 10 CMOs say they are personally responsible for the overall customer experience for their brand, yet may not be fully equipped to lead this critical function for the business.Among the findings:
- 90% of CMOs are personally responsible for the overall customer experience for their brand. However, only 11% actually own the customer P&L.
- CMOs at $1 billion+ companies rely less on financial KPIs to measure customer experience than their counterparts at sub-$1 billion companies.
- CMOs ranked customer interaction management (39 percent) as the most essential tool to delivering the best customer experience today, followed by CRM and loyalty management.
- CMOs are less competent with the most essential tools. Moreover, CMOs at $1 billion+ companies are even less competent—in every category.
Topping the list of useful tools is interaction management, defined as “real-time management and presentation of consistent offers and messages across channels.” However, on a 5-point scale, respondents rated their competence with interaction management at 3.12.
Overall, priorities differ by industry:
- Healthcare and financial services CMOs pointed to a central data warehouse (60 percent) as their most essential tool
- Email marketing (48 percent) was top among retail CMOs
- Loyalty management is considered most essential by media and entertainment and energy CMOs
- Campaign management gets the nod from B2B high tech CMOs
CMOs are also relatively less confident with other essential tools such as predictive analytics (3.1) and loyalty management (3.08).
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