The scope and scale of marketing is expanding fast as it is transforming, and this is all happening in
response to the connected customer. The connected customer is linked not only to vast independent
sources of information, but they are linked directly to
each other and to a wide network of experts.
The big opportunity for brands and CMOs is to create new
levels of differentiated customer centricity that competitors cannot match. That effort will
translate into revenue growth, higher customer lifetime value, and market share dominance. The 10
predictions presented in this IDC study will impact the CMO's ability to develop these critical capabilities.
Prediction 1: By 2017, CMOs Will Spend More on Content Marketing Assets than
They Do on Product Marketing Assets
Prediction 2: By 2020, 50% of Companies Will Use Cognitive Computing to
Automate Marketing and Sales Interactions with Customers
Prediction 3: By 2017, 20% of Large Enterprise CMOs Will Consolidate Their
Marketing Technology Infrastructure
Prediction 4: By 2020, 33% of CMOs Will Outsource Some Digital Marketing
Activities via Marketing as a Service
Prediction 5: By 2018, Predictive Analytics Will Be a Standard Tool for
Marketers, But Only a Third Will Get Optimal Benefit
Prediction 6: CMO Job Turnover Will Continue at the Rate of 25% per Year
Through 2018
Prediction 7: By 2020, 20% of Marketers Will Abandon the Traditional Funnel
in Favor of a Customer-Centric Model
Prediction 8: By 2017, 60% of CMOs Will Lag in Implementing Recommended
Benchmarks for Marketing Technology Staff Investment, Increasing the Rift
Between the CMO and CIO
Prediction 9: In 2016, 70% of Companies Offering Cloud or Digital Services Will
Increase Investment in Post-Purchase Marketing
Prediction 10: By 2018, 50% of CMOs Will Make Significant Structural Changes
to Their "Intelligence" Operations and Organizations
There are many external factors that have an impact on the CMO role and on the predictions by IDC for the future of the CMO's success. These factors come from Business, Social, economic, and technological realm. The summary of these key drivers is as mentioned below:
- Business drivers:
- Increased pressure on CMOs
- Marketing technology adoption that enhances competitiveness
- Transformation of advertising
- Social drivers:
- Real world and virtual world convergence through the Internet of Things (IoT)
- Hyperinformed buyers with higher expectations
- Technology drivers:
- Availability of big data disrupting relationships and business models
- Next wave of marketing technology investment
- Economic driver:
- Digital transformation
You can read the detailed report at IDC FutureScape: Worldwide Chief Marketing Officer Advisory2016 Predictions
