66% of Marketers Lack Confidence in Ability to Achieve Revenue Goals, According to CMO Council and Sprinklr Research
11 Maio 2023 - 9:00AM
The CMO Council, in partnership with Sprinklr (NYSE: CXM), the
unified customer experience management (Unified-CXM) platform for
modern enterprises, today announced a new research report,
“Outsmart Adversity: How CMOs Can Weather Economic Headwinds and
Emerge Poised for Growth.” The report finds that 2 in 3 marketing
leaders lack confidence in their ability to achieve goals in the
face of economic adversity and uncertainty. Nearly 8 in 10 express
concerns around lack of investment or budget cuts. Challenges with
executing data-driven marketing strategies contribute to this lack
of confidence.
“Marketers will have to build alliances with finance and IT to
protect budgets and MarTech investments, and they’ll need to
identify and shore up capabilities to build their confidence,” said
Donovan Neale-May, Executive Director of the CMO Council. “These
capabilities include gathering real-time insights that reveal how
audiences really feel about your marketing on multiple channels,
and then easily distributing this knowledge throughout the
organization.”
The report surveyed nearly 500 global marketing leaders to
reveal key findings about how marketers feel about economic
adversity, and how they can achieve revenue goals.
Key findings include:
- 78% of marketers don’t strongly feel
that they can convince the CFO to invest in marketing and not cut
the budget.
- Facing budget challenges, a majority
(68%) strongly agree that it’s imperative for CMOs and CIOs to
collaborate this year to develop a competitive advantage with
customer experience.
- However, even among highly confident
marketers surveyed, only 32% are very satisfied in their ability to
leverage data/analytics. Among less confident marketers, this falls
to 10%.
- Internal collaboration and
maximizing ROI across marketing channels will be key to success. In
the next 12 months, most marketers plan to create omnichannel
customer experiences to help them emerge from economic
uncertainty.
“In uncertain times, marketers face even more pressure to
protect budgets and programs by demonstrating clear ROI,” said Arun
Pattabhiraman, Chief Marketing Officer, Sprinklr.
“As our research with the CMO Council shows,
marketers must embrace the opportunity to enhance the way they
gather data, identify actionable consumer insights, and strengthen
their engagement strategy across channels.”
Download “Outsmart Adversity: How CMOs Can Weather Economic
Headwinds and Emerge Poised for Growth” at:
[https://www.cmocouncil.org/thought-leadership/reports/outsmart-adversity]
Methodology
The report is based on a CMO Council survey of nearly 500
marketing leaders across industries and geographies in Q1 2023.
About CMO Council
The Chief Marketing Officer (CMO) Council is the only global
network of executives specifically dedicated to high-level
knowledge exchange, thought leadership and personal relationship
building among senior corporate marketing leaders and brand
decision-makers across a wide range of global industries. The CMO
Council's 16,000-plus members control approximately $1 trillion in
aggregated annual marketing expenditures and run complex,
distributed marketing and sales operations worldwide. In total, the
CMO Council and its strategic interest communities include more
than 65,000 global executives in more than 110 countries covering
multiple industries, segments and markets. For more information,
visit www.cmocouncil.org.
About Sprinklr
Sprinklr is a leading enterprise software company for all
customer-facing functions. With advanced AI, Sprinklr's unified
customer experience management (Unified-CXM) platform helps
companies deliver human experiences to every customer and citizen,
every time, across any modern channel. Headquartered in New York
City with employees around the world, Sprinklr works with more than
1,000 of the world’s most valuable enterprises — global brands like
Microsoft, P&G, Samsung and more than 50% of the Fortune
100.
Media Contacts:
Kevin Sugarman
ksugarman@cmocouncil.org
Sprinklr (NYSE:CXM)
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