'Digital revolution has left CMO's struggling to respond'

Sanjeevi JAYASURIYA

"The market and the technology factors are the two most powerful external forces affecting the organizations today. These factors will drive increasing levels of complexity over the next five years in how we market not just our products and services, but all dimensions of the organizations, IBM India/South Asia Marketing and Communications Vice President Virginia Sharma told Daily News Business.

"The digital revolution is transforming the marketplace. Empowered customers can see and say more about the organizations that serve them than ever before. But this revolution has also left Chief Marketing Officers (CMOs) struggling to respond," she said.

Deliver value to empowered customers, foster lasting connections and capture value, measure result are three imperatives identified in the analysis of the first ever Global Chief Marketing Officer Study conducted by the IBM based on face to face conversations with more than 1,700 chief marketing officers worldwide.

"The challenges identified were the explosion of data, social media, the proliferation of channel and devices and shifting customer demographics. "These factors are serving as catalysts for change in Chief Marketing Officer (CMO) function and the struggle we all face is how to turn those challenges in to opportunities.

The pressure is rising. CMO's have to show a real return on their marketing expenditure. They also have to hire people with technical, digital and financial skills and become savvier in such areas themselves. In managing increasing complexity of today's environment the emerging new marketing profession is pointing the way towards a new century," Sharma said.