The Leapfrog Marketing Institute released its third CMO Digital Benchmark Study in Q4 2015. The study continued the exploration from the previous CMO Digital Benchmark Studies on how senior marketers were navigating the evolving digital space.
The 2015 CMO Digital Benchmark Study added technology executives into the respondent population. With these new perspectives, the Study’s key learning was that marketing and technology executives were not aligned to achieve business goals, including a lack of common goals and incentives—likely the root cause of the relationship challenge. The 2016 CMO Digital Benchmark Study is built to further understand the cause of this challenge, with continued perspectives from both marketing and technology executives.
Given that a lack of shared goals and incentives is a broader organizational issue, this year’s CMO Digital Benchmark Study explores how the C-suite is driving organizational transformation to become more digital and customer-centric throughout the business.
This CMO Digital Benchmark Study reflects the insights gathered from the survey fielded in Q3 2016, and provides key findings and implications for marketers, as well as technology executives, to drive business success in an increasingly complex digital world.
About The Researchers
The 2016 CMO Digital Benchmark Survey Prepared, Fielded and Analyzed for the Leapfrog Marketing Institute by:
Jim Carey: Adjunct Professor, Northwestern University Medill School of Journalism, Media, Integrated Marketing Communications
Fred Ehle: Former Vice President Customer Strategy, McDonald’s Corporation
Randy Spratt: Former Executive Vice President, Chief Information Officer and Chief Technology Officer of McKesson Corporation
In our 2015 CMO Digital Benchmark Study, marketing and technology executives were not well aligned except on one key insight—63% of both stated they did not share the same incentives or metrics. This suggested that alignment is more of a business/enterprise issue than one to be solved amongst the teams. This year’s benchmark study digs deeper into the marketing/ technology relationship and explores the impact of the C-suite on digital transformation, engagement and cross-functional alignment. A few key learnings:
- Marketing budgets report a modest lift compared to 2015.
- For marketers, mobile is still viewed as their weakest channel, even with a 30% reported lift in strength over last year.
- Both marketing and technology executives reported dramatic lifts in their ability to track digital activities to sales.
- A disparity exists between marketing and technology executives around customer experience (CE). Technology executives report a higher completion of CE mapping, clarity on CE ownership and progress delivering the CE.
- With regard to omnichannel experiences (OE), 70% of marketing and technology executives state their company is executing an OE—a 50% lift over 2015.
- Compared to 2015, fewer report their company building in a Mobile First environment—perhaps it is already built.
- The marketing/technology executive relationship has progressed since 2015.
- C-Suite level commitment to digital transformation and customer-centric strategies is low and needs improvement.