Study says a vast majority of CMO’s suffer from a lack of confidence

New Ideas in MarketingEssential news for marketers, summarised by YouGov
September 17, 2019, 5:06 PM UTC

The study surveyed 575 Fortune 500 C-suite executives.

Only 5% of CMO’s are confident about the impact of their strategic decisions. Most of the CMOs rated themselves below 50% on the following parameters: demonstrating financial impact, establishing an understanding of the consumer and initiating collaborative efforts.

This piece says that CMOs should play on their strengths of understanding consumers and having the complete view of omnichannel consumer journey and experiences. CMOs should also collaborate with their colleagues to “co-own key initiatives” and understand consumer insights.

While CMOs mostly consider themselves below par, most of their C-suite peers hold them in high regard. Almost 50% of CEOs think that CMOs are highly effective, while CIOs and CTOs also have a fairly positive view of them.

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