According to a new report from a data and analytics platform for marketing, sales and e-commerce teams, 42% of CMOs believe that data is hindering creativity within marketing teams.
To better understand the report titled ‘Data, People, and Culture: The Evolving Role of the Modern CMO’, surveyed 300 CMOs in the United States, United Kingdom, and the DACH region (Germany, Austria, and Switzerland) to find small to medium-sized businesses. Better understood. How the role of CMO is changing in the increasing digitization of the industry.
However, there is disagreement among CMOs about the growing sophistication and the amount of data that helps or hinders creativity, with 41% emphasizing that data actually helps and 17% uncertain. Importantly, those who say it greatly hinders creativity are twice as likely to struggle with a lack of equipment. Furthermore, feedback suggests that 30% of marketing teams review data only once a quarter or less, and about half (43%) CMOs think that the biggest barrier to getting value from their marketing data is related to company culture.
At the same time, the need for a dedicated marketing ops role to manage Martek stacks has dramatically accelerated. 73% of CMOs are committed to introducing this role to their team: 45% are already someone and another 28% are currently recruiting. Only 12% of CMOs have been in one place for more than a year.
Harriet Darnford-Smith, CMO, Adverity, says: “Modern marketers are exposed to a lot of data streaming from multiple sources, so it is not surprising that CMOs focus on investing in dedicated people to manage the entire data stack. Without an eye for the big picture, it is almost impossible to make an insightful decision. It’s amazing that only 30% are reviewing their data sporadically – in today’s data-driven marketplace, brands are at risk of being counted out of the race without a single unified approach to real-time performance. Now is the time for CMOs to change the company culture and embrace the opportunities that data brings. ”
Other key findings from the survey include:
- 66% CMOs say it is harder to hire new employees with data backgrounds than to improve their existing team.
- 36% say it’s becoming increasingly difficult to keep up, so even if marketers find a fantastic data rental, there’s no guarantee they’ll be around.
- Half (49%) agree that the amount of manual reporting required people not want to work in their marketing team.
- CMOs have trouble getting the rest of the C-suits by their side and 17% say they lack leadership motivation.
- Complex inheritance is affecting workflow culture, and the silos and barriers that come with them (15%).
- 18% of respondents claim that the single biggest reason they struggle to get value from their data is the lack of tools to handle it.
- 38% said that not having the right technology to consistently provide valuable insights from data is a hurdle, followed by having people with the right skills (19%).
- 43% said their team spends more time getting data in one place than actually using data to make decisions, which can be time consuming, inefficient and prone to human error.
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