What Are the Top Priorities for CMOs in 2024?
Chief marketing officers (CMOs) must realign their goals for 2024 as the marketing environment keeps changing
In the midst of evolving technologies, enterprise evolution, and cross-functional collaboration, there are three crucial action items for CMOs to take on going into next year, according to top researchers at the advisory firm Gartner.
“CMOs’ talent plans are at a crossroads; they must look to adapt and realign roles, or risk teams becoming obsolete,” said Ewan McIntyre, chief of research and VP analyst at Gartner.
The creation of AI-enabled marketing teams should come first. With technologies like GenAI coming soon, CMOs need to make sure their teams have the resources they need to take full advantage of these advancements.
According to a Gartner poll, 73% of cross-functional leaders are presently piloting or implementing GenAI, while only 8% say they have no plans to use it.
The report goes on to state that CMOs ought to redefine the role of marketing in a changing company. Over 40% of collaborators who are not in marketing believe that marketing interacts when it is not necessary, according to Gartner.
The report goes on to state that CMOs ought to redefine the role of marketing in a changing company. Over 40% of collaborators who are not in marketing believe that marketing interacts when it is not necessary, according to Gartner.
This entails establishing enterprise-wide alignment on new customer growth strategies, tying marketing to business strategy, showcasing the impact of crucial projects, and enabling others to recognize their part in generating customer impact.
Ultimately, the analysis demonstrates that CMOs ought to coordinate profitable expansion within departments. Growth opportunities are frequently impeded by cross-functional complexity, as per the research. According to the survey, teams will achieve greater business outcomes if they make decisions under the direction of senior executives as opposed to having complete power.
79% of cross-functional leaders report high collaboration drag on digital growth projects, which means they are 37% less likely to reach sales and profitability targets than their counterparts with low collaboration drag.
“Our survey data shows that progress on this journey won’t necessarily be stymied by technology, but by people getting in their own way. What’s required is a new form of collaboration that cascades productively across teams,” concluded Sharon Cantor Ceurvorst, vice president, research in the Gartner marketing practice.
About The Author
