Great Time to Be a CMO, if You’re Among the relevant 20 %

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Influence can be a magnificent vehicle in the C-suite, but if you are a chief marketing officer, you better make sure that vehicle is well powered or you risk hindsight that is more 80-20 than 20-20.

This is the basis of two recent research reports, one by IBM and the other by Forrester. According to IBM, chief marketing officers are gaining significant influence with the corner office – 63 per cent of CEOs involve the CMO in overall business strategies, second only to the chief financial officer at 72 per cent. Yet only about 20 per cent of CMOs feel fully prepared to manage the recent proliferation of data that is increasingly guiding their corporate decisions.

Similarly, Forrester finds that business leaders lack confidence in their digital strategies: while 74 per cent said their company has a digital strategy, only 15 per cent believe their company has the skills and capabilities to deliver on that strategy. This presents an opportunity for CMOs to step up – but at the risk of failing.

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