Forecast: 30% of CMOs will be canned in 2017
- At least 30% of CMOs will be canned in 2017 because they do not have an array of skills required to achieve a digital transformation of the business, according to a new Forrester report supplied to Marketing Dive.
- Disappointment with agencies and a growing need for data-driven customer insights will also spur CMOs and CIOs to better collaborate internally.
- More CMOs are expected to restructure marketing to integrate the customer experience, according to the report.
Forrester forecasts that existing trends such as the blurring of boundaries between the digital and physical worlds and the digital disruption of traditional business models will build next year. In 2017, marketers will need to address a growing feeling of disenfranchisement among Americans, as evidenced by how many feel unfavorably toward both presidential candidates as well as a pervasive sense of alienation from government, educational and religious institutions.
Brands have an opportunity to position themselves to fill the vacuum left by declining in trust for political and social institutions. CMOs should look to Harley-Davidson and CrossFit as examples of how brands can create a community of avid fans.
As a result of the broader trends at play in 2017, savvy CMOs will position themselves to build emotional connections with consumers, provide value-add services that align with a brand's positioning and look for data-driven one-to-one marketing opportunities. Such steps will be necessary if they are to outlast the 44-month job average for CMOs.
The key will be for brands to push their brands to be more human, helpful and handy as they look for relevancy in a post-digital marketplace.