Gartner has released its 2023 Chief Marketing Officer (CMO) Leadership Guide, which outlines the trends CMOs face in the new year, what to prioritize, and consequent actions to win:
1. Unpredictable Digital Buying Behaviors
Customers’ digital buying behaviors are changing. Shopping activities are affected by inflation, privacy concerns, and more. CMOs can provide high-value personalization across the entire customer journey. Maximize the value for you and your customers on digital platforms during the whole experience by fine-tuning your coordination and using personalized engagement techniques guided by your customers’ preferences.
2. Burdensome Cross-Functional Complexity
Research shows few marketers prefer independent planning, but then independent planning drives more revenue growth. CMOs should evaluate new cross-functional operating models. Adjust your marketing team’s structure and expertise to align with evolving cross-functional operations by determining areas where marketing should have primary or shared authority and implementing the most appropriate operating model for each core capability. Does an in-house agency model align with the organization’s structure? Would a shared services model improve workflow management?
3. Disruptive Market and Audience Dynamics
The traditional pathways to brand value have shifted. 53% of audiences place less emphasis on selecting a widely recognized brand than three years ago. For optimal use of their budget, CMOs should focus on balancing personal and functional brand benefits. To foster loyalty in a constantly changing environment, CMOs must demonstrate the worth of their brand through experiences. This can be achieved by creating a singular, impactful experience on digital or non-digital platforms.
Read the full research here. Do you need a fractional CMO to help you successfully navigate the volatile marketing environment in 2023 and beyond? Forward Vision Marketing is a full-service B2B marketing agency in Dallas that has helped global technology companies expand their marketing reach. Contact us for a complimentary discovery call. #WeSpeakTech