IDC Asia/Pacific CMO Barometer shows that the top three key performance indicators (KPIs) for marketing departments in 2015 are:
• increasing market share (66%)
• improving marketing processes — particularly measuring effectiveness (60%)
• increasing customer satisfaction ratings/ Net promoter score (NPS) (55%)
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"The road is going to be bumpy since growing data silos are still a major challenge for many organisations," Jimenez adds.
"This is stopping them from really knowing their customers and fulfilling their expectations. To be successful they will need to partner with the CIO.
"CMOs and CIOs need to establish common goals and define shared KPIs that can help them track the success of their joint initiatives."
Also, according to the IDC Asia/Pacific CMO Barometer, to achieve its KPIs CMOs have identified 3 key IT requirements for 2015: investing in disruptive technologies that can help gain competitive edge (25%), enabling a multi-channel environment (16%), and driving improved marketing automation and productivity (13%).
"But don't expect to achieve this just by making technology investments," Jimenez recommends.
"First and foremost, 'Starters' need to define their goals (with quantifiable metrics), as well as assess if their organizations’ customer service culture is well aligned to their customers’ priorities.
"Then, look at their processes (internal and external), people (skills) and technology," Jimenez recommends."