One of the more interesting parts of The CMO Survey series, is tracking respondents attitudes and behaviour over time.
Here we have 2 really interesting changes;
1 - What % of your marketing budget do you spend on ‘Customer Experience’ . Firstly it’s great that any of the budget is allocated - a few years prior it wasn’t really a consideration. Today, £15 out of every £100 of marketers budgets are spent on designing, delivering and improving the customer experience - with that forecast to rise to over £20 in the next 3 years.
Besides actual media buys, there aren’t many things which can rival this for sheer size and importance. A fundamental shift has taken place, putting the emphasis firmly on giving the customer the experience they demand, in order to drive sales.
2 - The focus on growth, outpaces traditional marketing KPIs.
Clearly growth at any cost is a rare objective - but to place beating last years’ performance, and driving up share or market, or total sales ahead of ROI or LTV is significant.
Whether this trend continues further into 2020 and beyond as we are forced to operate under increased financial pressure remains to be seen.
