Move Over CMOs, Data-Driven Growth Marketers Are Taking Over - NGDATA

Read the Financial Brand article here.

Here is a brief summary:

• Decline of CMO Role: High-profile dismissals at major firms like Wells Fargo, Bank of America, UPS, Walmart, and Etsy reflect a trend towards distributing marketing responsibilities across departments.
• Focus on Growth: Growth marketing emphasizes direct contributions to revenue, shifting from traditional metrics like brand loyalty to data-driven strategies.
• Data-Driven Strategies: Growth marketing integrates data and analytics, relying on tools like A/B testing and cross-channel marketing to inform decisions and drive consumer actions.
• Bridging Silos: By connecting marketing with product and sales teams, growth marketers foster better communication and create more cohesive customer experiences.
• Customer-Centric Approach: Modern marketing strategies focus on the entire customer lifecycle, from initial engagement to conversion and referral.
• Executive Alignment: Despite the emphasis on growth, there is a disconnect between CMOs’ self-perceived impact and their recognition by peers, highlighting the need for better internal communication of marketing value.