IT Brief New Zealand logo
Technology news for New Zealand's largest enterprises
Story image

Three quarters of CMOs responsible for business growth and use of data & technology

By Shannon Williams
Wed 29 Sep 2021

Three quarters of CMOs are now responsible for contributing to business growth and the use of data and technology, according to new research.

Capgemini research shows that CMOs need to transform their skills and technology capabilities to deliver data-driven real-time marketing.

The rapid growth in eCommerce during the pandemic has heightened the need for real-time insights to accommodate fast-changing customer behaviour. Accordingly, CMOs responsibilities are shifting, and around three quarters are now responsible for contributing to business growth (76%) and data and technology (74%). 

This is according to the latest Capgemini Research Institute report, A new playbook for chief marketing officers: Why CMOs should enable real-time marketing to drive sustained growth. Despite the CMOs new data-focused responsibilities, only 12% of marketers have the requisite data access, capabilities, and talent to drive and extract high value from real-time marketing.

Real-time marketing can process, analyse, and leverage data at its point of entry to swiftly enhance digital commerce campaigns, content and marketing outputs. The report signals that data-driven marketers enjoy improved brand awareness, customer satisfaction, conversion rates and customer retention.

Although all marketers are using data in some way, most are not applying it to drive marketing decisions. For instance, only 43% of marketers say their teams use data to decide a go-to-market strategy for a new product or service, and 40% use data to modify their campaign strategies. Similarly, 42% say that, by harnessing data, their team has been able to be more agile in responding to customer and market needs.

Data-driven marketers those who process, analyse, and leverage data to fine tune campaigns and content and marketing outputs enjoy numerous benefits: 

  • 88% said they can adapt and change content based on real-time data, compared to 38% of traditional marketers.
  • 93% were highly satisfied with their real-time marketing initiatives, compared to 46% of traditional marketers.
  • 54% of data-driven marketers said the benefits of real-time marketing exceeded their expectations.

The CMO shifts focus

For traditional marketers (who do not qualify as data-driven), catching up with high-performing rivals is necessitating a fundamental shift in roles, skills and capabilities. Capgemini research has identified that this change is occurring first and foremost at the top of the marketing ladder, characterised by a shift towards greater control and decision-making among CMOs.

Along with a responsibility for data and technology, around a third of CMOs are directly responsible for gathering and understanding consumer and market intelligence, trends, and for overseeing marketing technologies such as Customer Relationship Management (CRM) tools or marketing-automation platforms.

Meanwhile, 60% say they are involved in critical decisions related to growth and long-term value, such as growth strategy and new product development.

Opportunity to transform skills and capabilities

Despite the changes in CMOs duties and skills, the shift is not sufficiently reflected in the marketing function more broadly. To enable data-driven marketing, CMOs will need to address a broader tech capability and skills deficit. Less than half of marketers say they have established the data and technology capabilities needed to deliver data-driven marketing, highlighting a significant opportunity to transform.

For instance:

  • 45% have a customer data platform that provides a unified and a single view of customers, and 47% have a framework for data collection that defines what data will be collected, what its purpose is and how it will be utilised.
  • 44% say they have an adequate supply of skills in areas such as AI and machine learning, or data analytics and data science.
  • Less than half (45%) have social digital-marketing skills, and a similar proportion (46%) say they have sufficient skills in augmented and virtual reality.

 
In order to close these skills gaps, marketing departments will seek to bring more work in-house, according to the report. Overall, half of marketers agree that their organisations are trying to build internal skills and capabilities over partnering with outside vendors.

Currently 81% of marketers partner with agencies for activities including branding, marketing strategy and digital marketing, while nearly two thirds (60%) partner with data providers, while slightly under half (46%) work with marketing-technology firms (e.g., cloud marketing, CRM). Today, 24% say they will bring that capability in-house within the next two to three years.
 
"The COVID-19 pandemic has accelerated digitisation in a way no one could have predicted. Customer-data volumes are growing as online sales increase. This provides a host of opportunities for CMOs and marketing departments to better understand and serve their customers," says Jean-Pierre Villaret, Head of frog Europe, part of Capgemini Invent.

"And, a section of marketers are achieving the full potential of data-driven, real-time marketing and realising the benefits it brings with regards to brand awareness, customer satisfaction, retention, and conversion. The task now - for the vast majority of marketers - is to modernise their data capabilities and up-and-reskill their workforces in order to stay competitive against these data-driven high flyers."

For those CMOs seeking to make the move towards being data-driven, Capgemini has identified six critical focus areas to prepare for a data-driven marketing environment:

  • Create a clear vision for the marketing strategy
  • Implement a framework-driven data collection process
  • Ensure talent is equipped with a baseline of data and creative skills while allowing for specialists
  • Accelerate collaboration across the marketing ecosystem
  • Reimagine the customer journey with real-time engagement
  • Integrate long-term brand building and short-term marketing engagements
  •  
     
Related stories
Top stories
Story image
Microsoft
Microsoft backing Māori and Pacific wāhine in tech industry
A new initiative focused on getting Māori and Pacific wāhine into the tech industry and backed by Microsoft, NZTech and the government is calling for tech companies to get involved.
Story image
Hawaiki Cable
BW Digital completes acquisition of Hawaiki Submarine Cable
BW Digital has completed its full acquisition of Hawaiki Submarine Cable, with all applicable regulatory filings and approvals now received.
Story image
Adyen
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
Ivanti
Ivanti and Lookout bring zero trust security to hybrid work
Ivanti and Lookout have joined forces to help organisations accelerate cloud adoption and mature their zero trust security posture in the everywhere workplace.
Story image
Jabra
Jabra investigates what makes an ideal hybrid work model
“The way we work has changed forever and the current state of knowledge work requires access to digital platforms and technologies to be successful."
Story image
Employee Experience
Zendesk launches customer service and employee experience offering
"Zendesk is helping businesses embrace this new generation of conversational customer relationship management and turn customer service into growth.”
Story image
IT budget
$20m boost for digital technologies announced
The government is spending an extra $20m over four years on its plan to transform the digital technologies industry.
Story image
Oracle
Prophecy International migrates VMware environment with Oracle Cloud Solution
The Adelaide-based global provider is using the solution to eliminate the need to re-write applications, therefore allowing the company to enhance its business operations.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Storage
Energy storage demand momentum continues, says BYD
BYD has announced an expansion of its production capacities and will deliver 250,000 units of its energy storage system, BYD Battery-Box Premium.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Malware
Use of malware, botnets and exploits expands in Q1 2022
"As zero-day attacks and other vulnerabilities among companies like Google and Microsoft come to light, threat actors are quickly adjusting their tactics."
Softiron
For every 10PB of storage run on HyperDrive vs. comparable alternatives, an estimated 6,656 tonnes of CO₂ are saved by reduced energy consumption alone over its lifespan. That’s the equivalent of taking nearly 1,500 cars off the road for a year.
Link image
Story image
SaaS
Absolute Software expands Secure Access product offering
Absolute Software is enhancing its Secure Access product portfolio, enabling minimised risk exposure and optimised user experiences in the hybrid working environment.
Story image
Wireless
SmartCIC, BICS partner to expand wireless service options
SmarCIC has partnered with BICS to increase choice for organisations using fixed wireless services, expanding existing carrier relationships for its CELLSMART division.
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Sustainability
Power at the edge: the role of data centers in sustainability
The Singaporean moratorium on new data center projects was recently lifted, with one of the conditions being an increased focus on power efficiency and sustainability.
Story image
Kodari Securities (KOSEC)
NFT trends and opportunities: expert reveals all
The NFT market is growing at an exponential rate, with unprecedented liquidity. Here we explore how businesses can profit.
Story image
Microsoft
Microsoft unveils adaptive accessories for disability access
Microsoft is introducing an expansive Inclusive Tech Lab to give people with disabilities greater access to technology through new software features and adaptive accessories.
Story image
Sustainability
Grasping the opportunity to rethink the metrics of a sustainable data centre
A data centre traditionally has two distinct operations teams: the Facility Operations team, and the IT Operations team. Collaboration between them is the key to defining, measuring, and delivering long-term efficiency and sustainability improvements.
Story image
Cybersecurity
ThoughtLab reveals 10 best practices for cybersecurity in 2022
The benchmarking study reveals best practices that can reduce the probability of a material breach and the time it takes to find and respond to those that happen.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from IronNet
Michael Ehrlich joins us today to discuss the history of IronNet and the crucial role the company plays in the cyber defence space.
Story image
Ransomware
Zerto unveils updates to ransomware recovery capabilities
"Organisations face increased risks from the volume and sophistication of ransomware attacks prevalent today."
Story image
Cybersecurity
HackerOne launches Attack Resistance Management solution
HackerOne has launched Attack Resistance Management - a new category of security solution that targets the root causes of the attack resistance gap. 
Story image
Digital Transformation
Physical security systems guide the hybrid workplace to new heights
Organisations are reviewing how data gathered from their physical security systems can optimise, protect and enhance their business operations in unique ways.
Story image
Avaya
Avaya OneCloud sees 118% ARR growth for second quarter 2022
Avaya Holdings has reported $750 million annual recurring revenue (ARR) for its OneCloud offering, up 21% sequentially and 118% from the same period last year.
Story image
Remote Working
How organisations can meet employees' changing expectations
The global employment market has shifted dramatically in favour of employees, sparking the so-called great resignation, in which people are leaving unsatisfying roles in search of greener pastures.
Story image
Cybersecurity
CyberArk launches $30M investment fund to advance security
CyberArk has announced the launch of CyberArk Ventures, a $30 million global investment fund dedicated to advancing the next generation of security disruptors.
Story image
VPN
Palo Alto Networks says ZTNA 1.0 not secure enough
Palo Alto Networks is urging the industry to move to Zero Trust Network Access 2.0 because previous versions have major gaps in security protection.
Story image
Veryfi
Veryfi announces Mobile Receipt Capture for D2C marketing apps
Veryfi has announced a new enhancement to its portfolio, with Mobile Receipt Capture for direct-to-consumer marketing apps.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Power / Energy
SmartCIC report reveals top five 5G carriers in the world
The Global Cellular Performance Survey also found that 5G networks are delivering high download speeds but lagging in upload speeds.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Story image
Sustainability
Siemens showcases new automated solutions for data centers
Siemens has implemented new automated solutions and AI in the Baltic region's largest data center, providing insight into the future of data center management.
Story image
Digital Transformation
Unlocking the next digital frontier for educational institutions
Understanding where to invest in technology can be challenging for education institutions, especially after the COVID-19 disruptions.
Story image
Power / Energy
Keysight Technologies introduces new next-gen DPT solution
Keysight Technologies has announced its new next-generation Double-Pulse Tester (DPT) with the PD1550A Advanced Dynamic Power Device Analyser.
Story image
Microsoft
Avaya expands Microsoft partnership to deliver OneCloud on Azure
The joint technology and go to market agreement will help customers accelerate their digital transformation initiatives in the cloud.
Booster
Booster Innovation Fund. A fund of Kiwi ingenuity – for Kiwi investors.
Link image
Story image
Digital Transformation
Why enterprise records management should be part of any digital transformation strategy
Modern organisations create and rely upon an enormous volume of content, and digital records make up a significant proportion of that content.
Story image
Mobility
Hands-on review: STM laptop bags
The advent of hybrid working has meant we need laptop bags. We got our hands on two of the most popular laptop bags from STM.