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Michael Lacorazza, EVP and CMO at Wells Fargo, and Christine Cutten, Principal, Deloitte Consulting LLP, Customer Transformation practice at Deloitte, led a recent CMO Club Virtual Roundtable discussing the most significant findings from this year’s CMO Benchmarking Survey.
The study was conducted by the CMO Club in thought leadership with Deloitte to examine the state of marketing organizations today. We analyzed the CMO’s role and reporting structures; marketing organization design structures; current and future scope, skills and functions of team members; and measures and performance standards of marketing organizations and their leaders.
Perhaps more than any other C-suite executive today, the Chief Marketing Officer continues a near decade-long process of evolving, embracing, assimilating, and adapting to its ever-changing role.
No longer an “artsy, creative” storytelling function, marketing and its stalwart leaders are now accountable for an expanding array of responsibilities and talent from data analytics to customer experience and everything in between.
In our virtual roundtable discussion on the CMO Club Benchmark study, we explored three emergent patterns trending with CMOs:
“Yes, you CAN get the kind of talent that you find at the great agencies.” – Michael Lacorazza, EVP and CMO at Wells Fargo
“One challenge that CMOs and marketing organizations have is more to do with the data and data architecture — often that responsibility of how it’s architected and managed is led somewhere else in the organization, and not set up in a way to be most useful to marketers.” – Michael Lacorazza, EVP and CMO at Wells Fargo
“As consumers have shifted to an almost all-digital experience, dynamic content provides huge opportunities, from a scale perspective, as well as a spend savings perspective.” – Christine Cutten, Principal, Deloitte Consulting LLP
Listen to the full Virtual Roundtable as Cutten and Lacorazza discuss practical takeaways from the CMO Benchmarking Survey and how they apply in today’s environment for marketing leaders.