CMOs bracing for "fundamental changes", Accenture reveals

By Paige Murphy | 24 April 2019

Marketers worldwide are gearing up for fundamental changes to their roles over the next three years, Accenture’s latest report has found.

Accenture Interactive’s Way Beyond Marketing – the Rise of the Hyper-Relevant CMO, which surveyed nearly 1000 CMOs and 500 CEOs at the world’s largest organisations, revealed that 90% of CEOs and CMOs agree the role of marketers will change fundamentally over the next three years.

Accenture Interactive ANZ managing director Michael Buckley says the report revealed that local consumers are “open to engaging” with offerings which are “hyper-personalised”.

“As a result marketing leaders need to find creative ways to reinvent the customer experience and set themselves apart from competitors,” Buckley says.

“They need to become what we call ‘living businesses’ – to anticipate and respond to changing customer needs at speed and deliver significant business value.”

Global and Australian CMOs were ahead of the curve when it came to thinking about new roles and skills within their teams.

Customer experience curators, 72%, and immersive experience designers, 57% were among the most desirable roles to succeed in delivering a hyper-relevant experience, cited by Australian CMOs.

The report also found that 31% of CEOs surveyed globally expected CMOs to drive growth using customer data and insights to create new products, services and experiences.

Both locally and globally 69% of CMOs admit they are struggling to apply insights they have to their marketing strategy, with just 11% helping their organisations generate shareholder returns higher than their industry peers through hyper-relevant customer experiences.

Only 63% of Australian CMOs believe that consumers have higher expectations today of a brand’s purpose, in comparison with 76% of CMOs globally.

“CMOs need to lead an effective, joined-up customer experience at all touch points, at pace and scale, to drive growth,” Buckley says.

“In essence, there are four key actions they must take: using advanced customer insight and analytics to shape the future; building the marketing and sales capabilities of their people and organisation; leveraging partnerships to create innovative new products, services and solutions; and delivering cost-effective technological activation of personalised and scalable marketing programs.”

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