The average tenure for chief marketing officers of leading U.S. consumer brand companies dropped from 48 months to 44 months, representing the first decline of average tenure in 10 years. 22 of 30 new CMOs in 2015 were new to the role.
While 36 percent of marketers say that the market has become more cluttered and confusing over the last five years—both online and offline—31 percent say that they are able to provide better customer experiences due to the accessibility of customer intelligence that enables them to become more relevant to customers.
Customer lifetime value is another blurry area for marketers as nearly half (45 percent) of respondents indicated that they do not have good visibility or accurate valuations around customer lifetime value and retention rates. Only 16 percent said that they do have good visibility in this area, with 37 percent revealing they are getting better.
Only 16 percent of marketers feel that their organizations are delivering customer experiences that truly fulfill their brand promises, while two-thirds (66 percent) say their efforts in this area are hit or miss, and 14 percent say they are completely missing the mark.
Top retailers see double the growth in mobile’s share of transactions, widening the gap with average retailers in the space. Nearly four-in-ten transactions occurred on multiple devices and were completed on a mobile device almost a third of the time.
In 2016, the term “digital marketing” borders on redundancy. Digital accounts for an ever-growing share of marketers’ activities, channels, and budgets. This year marks a tipping point, with marketers spending more than two-thirds (70%) of their total budget on digital marketing channels.
Digital advertising, video games, and broadband will continue to be the fastest-growing segments over the next five years, with projected compound annual increases of 12.7 percent, 8.1 percent, and 7.8 percent, respectively, to 2019.