The Changing Role of the Chief Marketing Officer: Unlocking the Power of Data-Driven Communication

Abstract

The author demonstrates the extent to which digitalisation is changing the balance of power between individuals and institutions and notes the communicational challenges that this poses for CMOs. Today, they must understand how individuals act as well as they understand the market itself. This chapter looks into how CMOs remain successful in competition—in a situation in which consumers are characterised for one by a dramatic reduction in attention span and for another by increased expectations. The author describes how the customers’ new role is that of co-creators and innovation drivers. The consequence for CMOs is that they must in future improve integration of consumer feedback. The study cited refers to the need for a customer-centric mindset rather than one that is focused on the customer in order better to understand the needs and motivation of the consumer. This chapter leads to three recommendations for CMOs: a change in understanding of the customer, improved expertise in digitalised incorporation of customer feedback and co-creation and a data-based and personalised customer approach.