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Only 11% of CMOs say they have achieved digital transformation goals

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Only 11% of CMOs say they have achieved digital transformation goals


The digital transformation journey is neither easy nor quick, which is why only 11% of global CMOs say they have completed it, according to a new study.

The annual study, by MediaSense, confirmed that digital transformation is sweeping marketing. An incredible 82% of brands planning or in the midst of transforming their internal media operating model. While 76% are planning or undergoing a transformation of their external agency model.


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Organizations say they are being held back by internal silos, incompatible technologies, inadequate data and critically, talent. More than 55% said a skills shortage is holding them back. This is a huge increase from 27% in 2015, the first year the survey was conducted.

The lack of a reliable cross-media measurement is also worrying top marketers, with 42% believing there will never be one. Nearly half said that media firms’ self-interest is the key limiting factor for this. On a different front, it is reassuring to note that the industry continues to be concerned about climate change. Some 46% of top marketers say they are planning to focus more on sustainability and measuring the environmental impact of media.

“The level of transformation occurring in the industry is a promising sign for the future of our industry,” said Ryan Kangisser, managing partner, strategy at MediaSense. “The unanticipated growth of ecommerce … has exposed acute gaps across talent and measurement. Now is the time for greater cross-industry collaboration and leadership to find solutions which better support this constantly evolving and converging ecosystem.”

Read next: What is digital transformation?

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Why we care: To quote someone known for his journeys, “One does not simply walk into Mordor.” This is further proof that marketing is undergoing a defining change in how it operates. It may also be reassuring to know you’re not the only one facing significant challenges in getting your organization up to speed.

It’s also worth considering whether digital transformation is the kind of journey that can be completed at all, or whether it’s a process that will be with us always.


About The Author

Constantine von Hoffman is managing editor of MarTech. A veteran journalist, Con has covered business, finance, marketing and tech for CBSNews.com, Brandweek, CMO, and Inc. He has been city editor of the Boston Herald, news producer at NPR, and has written for Harvard Business Review, Boston Magazine, Sierra, and many other publications. He has also been a professional stand-up comedian, given talks at anime and gaming conventions on everything from My Neighbor Totoro to the history of dice and boardgames, and is author of the magical realist novel John Henry the Revelator. He lives in Boston with his wife, Jennifer, and either too many or too few dogs.



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MARKETING

Only 38% of marketers very confident in their customer data and analytics systems

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Only 38% of marketers very confident in their customer data and analytics systems

Only 38% of marketers globally are very confident in their data, analytics and insight systems, according to a new report from The CMO Council. And, while 91% say direct access to customer data is a critical competitive advantage, only 11% say that data is readily accessible to them. 

Read next: Only 11% of CMOs say they have achieved digital transformation goals

North American marketers. Most of these numbers are global ones, but the ones specifically from North American marketers are not good. Only 28% say they are very confident in their data systems to win and retain customers. Compare that with Europe where 61% answered yes to this. Just 6% of North American respondents said they have high access to customer data vs. 20% of Europeans. On the issue of being able to move quickly from data to action, it is 8% from our side of the Atlantic versus 36% from theirs. And Europeans have a lot more faith in their systems: 46% say they’re confident the martech they have can adapt to future needs versus 20% in the U.S. and Canada.

Source: CMO Council’s High Velocity Data Report.
Used with permission.

Barriers to data access. Nearly three-quarters (73%) said not having the right tools prevents them from getting the data they need. The lack of proper data management processes was cited by 60% of respondents. Next up, both with 41%: Data control being elsewhere in the organization and the data not being available in real time.

Can’t get the most from their data. The biggest things preventing marketers from maximizing the data they already have? Some 55% said a lack of systems connecting data silos and making it easy to access. The talent shortage is No. 2 on the list, cited by 52% of respondents. Next on the list at 44% was not having the money to improve data systems.

Why we care. Good data is gold, bad data isn’t just useless – it can lead to very big mistakes in planning, allocation and all the other parts of marketing. So why can’t marketing departments get the data they need? This study implies it’s because they are failing to convince their own organizations about what they need. This is understandable. Convincing a customer is comparatively easy: They aren’t competing with you for resources and to move up the career ladder. So maybe it’s time to put together a campaign around the needs of the marketing department.


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About The Author

Constantine von Hoffman is managing editor of MarTech. A veteran journalist, Con has covered business, finance, marketing and tech for CBSNews.com, Brandweek, CMO, and Inc. He has been city editor of the Boston Herald, news producer at NPR, and has written for Harvard Business Review, Boston Magazine, Sierra, and many other publications. He has also been a professional stand-up comedian, given talks at anime and gaming conventions on everything from My Neighbor Totoro to the history of dice and boardgames, and is author of the magical realist novel John Henry the Revelator. He lives in Boston with his wife, Jennifer, and either too many or too few dogs.

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