Worldwide Chief Marketing Officer Advisory 2016 Predictions

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: 

1. Business drivers:
• Increased pressure on CMOs 
• Marketing technology adoption that enhances competitiveness 
• Transformation of advertising 
2. Social drivers:
• Real world and virtual world convergence through the Internet of Things (IoT) 
• Hyperinformed buyers with higher expectations 
3. Technology drivers: 
• Availability of big data disrupting relationships and business models 
• Next wave of marketing technology investment 
4. Economic driver: 
• Digital transformation

You can read the detailed report at IDC FutureScape: Worldwide Chief Marketing Officer Advisory2016 Predictions