The economist intelligence unit:  Voice of the customer, whose job is it, anyway
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In what areas should marketing focus investments in order to contribute most to your business in 3 years?

In what areas should marketing focus investments in order to contribute most to your business in 3 years?
#1 Customer Analytic
#2 Customer Relationship Management
#3 Social Media

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The economist intelligence unit:  Voice of the customer, whose job is it, anyway The economist intelligence unit: Voice of the customer, whose job is it, anyway Document Transcript

  • Whose job is it, anyway?Voice of thecustomerA report from the Economist Intelligence UnitSponsoredby
  • © The Economist Intelligence Unit Limited 20131Voice of the customer Whose job is it, anyway?About the report 2Introduction 3Conflicting priorities, expanding expectations 4Finding the voice of the customer 5A digital shift demands new skills 6Time to add a chief customer officer? 8The CMO as CCO 9Conclusion 11Appendix: survey results 12Contents123456
  • © The Economist Intelligence Unit Limited 20132Voice of the customer Whose job is it, anyway?AboutthereportVoice of the customer: Whose job is it, anyway? is anEconomist Intelligence Unit report, sponsored bySAS. The Economist Intelligence Unit bears soleresponsibility for the content of this report. Thefindings do not necessarily reflect the views of thesponsor.The paper draws on two main sources for itsresearch and findings:l A global survey—conducted in July 2012—of389 executives. The respondents are based inWestern Europe (40%), North America (27%),Asia-Pacific (24%), Latin America (6%), MiddleEast/Africa (2%) and Eastern Europe (1%); atotal of 42 countries are represented.Respondents include marketing and non-marketing professionals from 19 industries,such as financial services (14%), consumergoods (11%), IT/Technology (8%) andmanufacturing (8%).l A series of in-depth interviews with seniorexecutives from major companies and otherexperts listed below.Curtis Bingham, founder and executive director,Chief Customer Officer CouncilSteve Cannon, CEO, Mercedes-Benz USACammie Dunaway, US president and global CMO,KidZaniaDan Marks, CMO, First Tennessee BankJohn McDonald, vice-president marketing,Americas, British AirwaysMichelle Peluso, global consumer chiefmarketing and internet officer, CitigroupWe would like to thank all interviewees and surveyrespondents for their time and insight.The report was written by Rob O’Regan andedited by Gilda Stahl.
  • © The Economist Intelligence Unit Limited 20133Voice of the customer Whose job is it, anyway?Customer-centricity is not a new concept, but it hastaken on increasing importance in today’s businessenvironment, marked by empowered consumerswho want to interact with a brand on their ownterms. For many organisations, the challenge liesin finding innovative ways to capture the “voice ofthe customer” and infuse customer insights acrossall business functions, from the point of sale to thecall centre, in order to create business value.The chief marketing officer (CMO) is wellpositioned to serve as the champion of customerinsights and engagement at organisations lookingto become more customer-driven. Marketing hasaccess to a wealth of data about the behaviours,activities and interests of customers and prospectsand, as a result, is often at the centre of thecustomer experience.Ironically, however, CMOs’ attempts to leveragecustomer insights more strategically across theirorganisation have been thwarted by the increasingdemands of their “day job.” As the CMO role hasexpanded well beyond traditional advertising,branding and PR, marketing’s mandate has in manyways become less clear.In Outside looking in: The CMO struggles to get insync with the C-suite—the first in a series ofEconomist Intelligence Unit reports on theevolution of the CMO’s role—we highlighted adisconnect between CMOs and the rest of the C-suite over marketing’s role. In this report, we willexamine how the CMO’s increasingly fragmentedresponsibilities make it increasingly difficult totake ownership of the “voice of the customer”across the organisation.Some believe the CMO remains in the bestposition to embrace the role of customerchampion. Others advocate yet another C-suiteposition—the chief customer officer (CCO)—to leadthe charge to customer-centricity. Regardless oftitle, a void remains that many organisations needto fill before they can truly call themselvescustomer-centric.Introduction
  • © The Economist Intelligence Unit Limited 20134Voice of the customer Whose job is it, anyway?Traditional marketing is obsolete, and many seniorleadership teams have yet to come to grips withwhat the new model should look like. Our surveyshows differences between CMOs and the rest ofthe C-suite over the priorities of the marketingfunction, its contribution to the business and itsability to measure return on marketing (ROMI)investments. The C-suite priorities for the CMO—increase revenue, find new customers and improvethe organisation’s reputation—are formidable. Yetdespite this accountability, the CMO’s role isviewed as strategic in only 61% of organisationsand the CMO plays a leading role in formulatingmarketing strategy in just 53%.We also see just how broad the CMO’s role hasbecome. The CMO’s job description is as fluid as themarketing landscape he or she navigates. The CMOstill oversees traditional marketing functions suchas advertising, brand marketing, productmarketing and communications. However, thecurrent top areas for marketing investments—customer relationship management, brandadvertising, collaboration tools and customeranalytics—will morph significantly over the nextthree years where the focus is primarily onunderstanding and interacting with the customer.This shift offers a clear indication of the risingimportance of the voice of the customer.But the rise of digital marketing channels—online, social and mobile—and a new customersovereignty, fuelled by increased access toinformation about their choices, have added newlayers of complexity on top of these traditionalactivities.Conflicting priorities, expandingexpectations1QSource: Economist Intelligence Unit survey, July 2012.5138402228182741242124201721171915291416132289Now In three yearsIn what areas should marketing focus investments in order to contribute most to your businessboth now and in three years?(% respondents)Customer relationship management (CRM)Brand advertisingCollaboration toolsCustomer analyticsTraining employeesDirect marketingReputation managementMarketing automation toolsSocial mediaNew hiresMobile application developmentWeb optimisation tools
  • © The Economist Intelligence Unit Limited 20135Voice of the customer Whose job is it, anyway?Many companies find it challenging to restructuretheir businesses around the customer, having beenorganised traditionally around products orgeographies. Only six in ten survey respondents saytheir company is a customer-centric business andjust over half (56%) believe their company has aclear understanding of customers’ tastes and needs.The C-suite’s high expectations of the CMO—tomeet the significant challenges of the new era ofmarketing and increase revenue—leave the CMOlittle time to focus on the customer, however. Infact, just 19% of CMOs play a leading role inconnecting customer-facing functions—a key stepin the journey to customer-centricity. The CMO isconsidered the voice of the customer at just 18% oforganisations, trailing the head of sales (31%).Another 21% believe it is a shared responsibilityacross multiple roles. A plurality, however, believethe CMO should represent the “voice of thecustomer.”Finding the voice of the customer2QSource: Economist Intelligence Unit survey, July 2012.1 Stronglyagree2 3 4 5 StronglydisagreeOur company is a customer-centric businessOur company has a clear understanding of our customers’ tastes and needsOur organisation has the data, tools and process in place to react quickly to changes in customer behaviour or other customer dynamics19 41 30 8 313 43 37 7 19 30 37 19 5Indicate the extent to which you agree or disagree with the following statements.Rate on a scale of 1 to 5 where 1 = Strongly agree and 5 = Strongly disagree.(% respondents)QSource: Economist Intelligence Unit survey, July 2012.Is voice of customer Should be voice of customerWho is considered the “voice of the customer” at your organisation, and who do you believeshould take on that role?(% respondents)3117212318281213878536Head of salesIt’s a shared responsibility across multiple rolesCMOChief Customer OfficerBoard memberChief Executive OfficerChief Strategy Officer
  • © The Economist Intelligence Unit Limited 20136Voice of the customer Whose job is it, anyway?The rise of web, social and mobile channels hasincreased the complexity of customerengagement—but these channels also may provideCMOs with the keys to delivering on organisations’evolving customer-centric mandate.“There is a real imperative for companies to bringthe customer front and centre,” says MichellePeluso, global consumer chief marketing andinternet officer at Citigroup, a US multinationalfinancial services corporation. “Increasingly in thedigital world, the tools have evolved so you canbring the customer perspective much closer to thebusiness.“There is an outrageous proliferation of data,and part of what we have to do as marketers is touse data not to analyse the past, but to be morepredictive about what people are interested indoing next,” Ms Peluso says. There is a lot of powerin that.”There is also plenty of complexity, driven byshifting consumer preferences that are forcingchanges in the marketing mix. E-mail and thecorporate website, for example, have become vitalchannels for customer engagement in a relativelyshort period of time. But in the next three years,social and mobile will eclipse those channels—andall others other than face-to-face interactions—asthe most effective for customer engagement.Few organisations, however, are leveragingemerging social and mobile media channelseffectively to reach customers.How can marketers get smarter about theseemerging channels? An increasing emphasis ondigital marketing requires a broader combination ofquantitative and qualitative skills across the entiremarketing organisation—from the CMO on down.Customer insight, data-driven analyticalcapabilities and social media expertise are amongthe CMO skills that respondents say are becomingincreasingly important. These and other technicalA digital shift demands new skills3QSource: Economist Intelligence Unit survey, July 2012.5950462739312512243521141947183495Face to faceEmailCorporate websiteCall centreMobile devicesTraditional media (print, TV, radio)Social mediaOnline media (e-commerce website or 3rd-party websites)Direct mailWhat are your company’s most effective channels for customer engagementboth now and in three years?(% respondents) Now In three years❛❛There is anoutrageousproliferation ofdata; part of whatwe do is use datanot to analyse thepast, but to bemore predictiveabout what peopleare interested indoing next.❜❜Michelle Peluso, globalconsumer chief marketing andinternet officer, Citigroup
  • © The Economist Intelligence Unit Limited 20137Voice of the customer Whose job is it, anyway?skills are critical because they help CMOs justifymarketing investment based on facts, notassumption, enabling them to build credibilitythroughout the organisation.“Data give you the ability to be relevant,” saysJohn McDonald, vice-president of marketing,Americas, at British Airways. “Our approach ismaking sure we are leveraging the ability to bemore relevant by using data to more effectivelycommunicate across the customer journey.”Because digital channels are playing anincreasingly important role in this journey, someCMOs are finding the need to ramp up their owndigital and data-driven expertise. “Digital is animportant CMO skill, and it is important to recognisethat just because you have managed [digital]doesn’t mean you know it,” says Ms Peluso, whooversees all of Citi’s digital channels, includingmobile and social media. “Spending the time andenergy to understand it gives you credibility withyour teams, your business colleagues and yourclients.”QSource: Economist Intelligence Unit survey, July 2012.1 Stronglyagree2 3 4 5 StronglydisagreeWe are using social media effectively to engage customers with our brandWe are using mobile media to effectively reach customers wherever they wish to engage with our brand7 25 39 19 109 25 33 21 12Indicate the extent to which you agree or disagree with the following statements.Rate on a scale of 1 to 5 where 1 = Strongly agree and 5 = Strongly disagree.(% respondents)❛❛Our approach ismaking sure weare leveraging theability to be morerelevant by usingdata to moreeffectivelycommunicateacross thecustomer journey.❜❜John McDonald,vice-president of marketing,British Airways
  • © The Economist Intelligence Unit Limited 20138Voice of the customer Whose job is it, anyway?Time to add a chief customer officer?4The challenge for CMOs is that aspiring to be thecustomer champion across the entire organisationmay simply be too much to take on, given thealready broad scope of their existingresponsibilities. As an alternative, someorganisations are establishing a relatively new C-suite title, the chief customer officer (CCO), to actas customer champion. About 500 CCOs existglobally, either in title or responsibility, accordingto the Chief Customer Officer Council, a peer-ledadvisory group for CCOs (see sidebar).“At every strategic decision point, somebodyneeds to be asking, ‘what is the impact of thisdecision on the customer?”’ says Curtis Bingham,founder and executive director of the CCO Council.“In the absence of other people taking up thatbanner, the CCO can be the best choice becausethey are uniquely accountable for bringing thecustomer perspective into the company.”CMOs themselves seem to be warming up to theidea of a CCO to complement their efforts. Nearlyone-quarter of CMO respondents in our survey saida CCO should be the voice of the customer. Still,more than one in four CMOs believe they shouldserve in the role as the voice of the customer.In our interviews, executives maintain that theCMO is best equipped to serve as the voice of thecustomer and lead customer-driven strategicinitiatives, because marketing is already at thecentre of the customer experience.“As a CMO you are sitting on a wealth of data,which puts you closer to the customer than anyoneelse in the organisation,” says Ms Peluso. “That is areally profound privilege and responsibility. Themore you think about that and leverage that andfigure out how companies can make betterdecisions because of the data they have access to,the broader your power can be.”Other executives agree that the CMO is uniquelypositioned to drive a customer-led strategy. “If theCMO is not at the forefront of the customerexperience, where else will you find it inside yourorganisation?” asks Steve Cannon, CEO ofMercedes-Benz USA. “The CMO role brings togetherthe customer, the brand and the product. There isno more essential intersection in any business.”1. The CMO reports to the CCO.Justification: Marketing is just one of many functions touching the customer.2. The CCO reports to the CMO.Justification: Marketing has the budget and the data to support broad-basedcustomer initiatives.3. The CMO and CCO both report to the CEO.Justification: The CEO provides the mandate for change, and the CCO and CMOwork in tandem to deliver for customers at all stages of the customer lifecycle.Source: Chief Customer Officer CouncilCMO and CCO: three organisational models❛❛The CMO rolebrings togetherthe customer, thebrand and theproduct. There isno more essentialintersection inany business.❜❜Steve Cannon, CEO,Mercedes-Benz USA
  • © The Economist Intelligence Unit Limited 20139Voice of the customer Whose job is it, anyway?The CMO as CCO5CMOs who aspire to serve as the de facto CCO mustfind a way to use customer insights to create anexceptional customer experience that spans allphysical and digital channels. At First TennesseeBank, for example, a customer-experiencemonitoring programme lies at the crux of themarketing team’s efforts to improve cross-channelcustomer interactions. The programme uses avariety of tools, from surveys to social mediamonitoring, to measure the customer experience.“Everything flows into customer-experiencetracking,” says CMO Dan Marks. “After a tellertransaction or call centre transaction, we askmacro-level questions around loyalty andrecommendation, but we also ask about brand-specific attributes. It yields a nice feedback loop.”Understanding what Mr Marks calls “the full 360degrees” of the customer experience has led toThe “chief customer officer” title has been aroundsince 1999. It is becoming more prevalent,however, as organisations across all industries lookto take a more customer-centric approach to theirbusiness.“A CCO is a good way to reorient a businessaround the people who really pay the bills: yourcustomers,” says Curtis Bingham, managingdirector of the Chief Customer Officer Council, apeer-advisory network for CCOs. Mr Bingham saystwo main criteria define a CCO:1. The CCO is the ultimate authority on customersthroughout the organisation.2. The CCO drives customer strategy at the highestlevels of the organisation.CCOs have a variety of backgrounds, fromIT to marketing, but Mr Bingham says thosewith operations experience are most common.“Executives who come from operations oftenhave played a role in so many different divisionsthat they can tell where to go to gain theresources to resolve an issue,” he says. Becausethey understand many aspects of the business,these CCOs often possess another critical asset:credibility.Asking the CMO to assume CCO responsibilitiescan be a stretch, for one main reason: it is a lot toexpect of an executive who already has a full plateof responsibilities. “A CMO can certainly take onthe role of the CCO,” says Mr Bingham. “However,I don’t know that they should aspire to be one asmuch as they should be committed to workingalongside a top-notch CCO.” Working in tandem,the CCO and CMO can deliver insights that improveperformance at all stages of the customer lifecycle.“We are seeing more and more of this, and I believeit is the right way to go,” says Mr Bingham.The rise of the CCO
  • © The Economist Intelligence Unit Limited 201310Voice of the customer Whose job is it, anyway?smarter investments in marketing programmes andthe discovery of an important brand advocate: thebank’s own customers. In 2011 First TennesseeBank launched a campaign featuring customertestimonials—including videos featured on thebank’s YouTube channel—that reinforced thecompany’s brand promise.“We realised that in an era when many peopleare sceptical of banks, our biggest advocates wereour customers,” says Mr Marks. “So it wasimportant to amplify their voice, in a way that wasauthentic and powerful.”Improving the linkages among differentfunctions enables companies to deliver a moreconsistent experience across all customer touchpoints, including face-to-face interactions. AtKidZania, a Mexico-based business that haslaunched career-oriented “edutainment” themeparks for children in nine countries, marketing andIT worked hand in hand to launch a loyaltyprogramme that attracted 100,000 members in itsfirst year. The programme enables marketers tocollect information about member activities atKidZania parks, and then use the data to deliverpersonalised communications at the physicallocations or via e-mail or mobile messaging. Datacollection is centralised to ensure privacy.“It is important for kids and their parents to feela connection to KidZania wherever they go,” saysCammie Dunaway, US president and global CMO ofKidZania. “It is an exciting and powerfulprogramme which we have been able to build fromthe ground up.”At British Airways, marketing has played a keyrole in the launch of Know Me, a cross-functional,companywide effort to improve the customerexperience through deep insights about existingcustomers’ preferences and behaviours. “Marketingworks very closely with the customer experienceteam, IT, the cabin crews and other groups tomonitor the feedback and listen to what customersare saying,” says Mr McDonald. “But it is anenterprise-wide effort.”While the CMO can play a leading role in drivingcustomer insights throughout an organisation, it isclear that the “voice of the customer” extends wellbeyond a single person or business function. “Citihas over 200,000 people,” says Ms Peluso. “If weare going to be customer centric, it can’t be oneperson’s job. For a company to make atransformation into having a much moreinteractive relationship with customers, it has tobe everybody’s job.”This mandate also extends to every member ofthe C-suite, whether they’re called a CMO, a CCO orsomething else. “It doesn’t matter what people’stitles are,” says Mr Bingham. “What matters iswhether they are driving customer-centricitythroughout their organisation.”
  • © The Economist Intelligence Unit Limited 201311Voice of the customer Whose job is it, anyway?Conclusion5As Citigroup, Mercedes-Benz, British Airways andothers have demonstrated, marketing has anopportunity to lead any firm’s transformation intoa more customer-centric organisation. CMOs,whether assuming the role of “chief customerofficer” or working in tandem with one, can play alead role in analysing and disseminating deepcustomer insights that drive business performance.Here’s how:Change the process. Organisations havebecome much more effective at gleaninginsights by monitoring and analysing activitieswithin individual channels. The next—and farmore valuable—step is integrating informationgathered from all digital and physical channels.Twenty-one percent of respondents say theirability to track customer engagement acrossdifferent marketing channels is “lagging”.Taking steps to better understand “the full 360degrees” of the customer experience can helpCMOs offer predictive guidance about customers’interests and activities.Leveraging this guidance will require newprocesses and workflows that provide theworkforce with the information they need tomake smarter decisions about all aspects of thebusiness.Change the mindset. CMOs need to make a realcommitment to infusing a customer-focusedmindset across the entire organisation. Thiscommitment begins with proper training andskills development for the marketing team, withan emphasis on data-driven analyticalcapabilities.CMOs cannot simply delegate this expertise,however. Although it’s unreasonable to expectCMOs to master all of marketing’s diversedomains, they do need to possess hands-onknowledge of emerging trends, tools andplatforms for engaging and understandingcustomers. Demonstrating an aptitude for thesetypes of emerging skills will build credibility andwill trickle down through the rest of theorganisation.A true customer focus requires everyone in theorganisation to play the role of customer advocate.CMOs who can translate customer insights into realvalue for each part of the business can geteveryone working towards the same goal—andsecure their own standing as a strategic player inthe C-suite.
  • © The Economist Intelligence Unit Limited 201312Voice of the customer Whose job is it, anyway?Appendix:surveyresultsPercentages may not add to 100% owing to rounding or the ability of respondents to choosemultiple responses.Chief Executive OfficerChief Operations OfficerChief Sales OfficerChief Strategy OfficerChief Information OfficerChief Financial OfficerOtherTo whom does your CMO or most-senior marketing executive report?(% respondents)6418533061 Highlystrategic2 3 4 5 NotstrategicThe CMO’s roleHow strategic a role does the CMO play in your organisation?Rate on a scale of 1 to 5 where 1 = Highly strategic and 5 = Not at all strategic.(% respondents)23 39 29 8 2
  • © The Economist Intelligence Unit Limited 201313Voice of the customer Whose job is it, anyway?A leading role A key player Consulted No role Don’t knowFormulating business strategyFormulating marketing strategyFormulating pricing strategyDeveloping new products/servicesDeveloping customer engagement strategyShaping customer serviceSelecting new markets to enterDeciding on new IT investmentsDeciding on new marketing investmentsConnecting customer-facing functionsWhat role does the CMO (or the most senior marketing executive) play in your organisation with regard to the following activities?Select the most appropriate response for each activity.(% respondents)18 57 21 3 156 27 15 2 123 39 25 11 119 44 28 8 124 46 24 5 117 42 31 10 118 39 29 12 26 20 40 31 236 40 19 4 119 44 27 8 2Brand marketingDigital marketing (online, mobile, social)Product marketingChannel marketingCustomer serviceMarket researchProduct developmentPublic relationsE-commerceWebsite developmentSalesMerchandisingRetailPricing strategyOver which areas do you expect the CMO’s influence to increase in the next 3 years?Select all that apply.(% respondents)5048454140343332313026151223
  • © The Economist Intelligence Unit Limited 201314Voice of the customer Whose job is it, anyway?1 A significantobstacle2 3 4 5 Not anobstacleLack of C-level support for the CMOCurrent marketing executives lack the relevant skillsUnder-investment in supporting systems and technologyUnder-investment in talent acquisition, training, and retentionDisconnect over what marketing should be deliveringThe C-suite conception of marketing is not as a strategic functionPlease indicate the extent to which the following are obstacles to the CMO playing a more strategic role in your organisation.Rate on a scale of 1 to 5 where 1 = A significant obstacle and 5 = Not an obstacle.(% respondents)8 22 33 21 168 32 32 19 910 27 39 18 711 33 38 13 69 30 35 19 710 24 36 19 11Customer insightCommunications expertiseCreativityIndustry expertiseTeam buildingData-driven analytical capabilityGeneral business acumenTechnical expertiseLine-of-business knowledgeAdvertising/agency experienceSocial media expertisePattern recognitionVisual/design aestheticsWhat skills are most important for CMOs to have?Select the top three.(% respondents)42413131292725211913721
  • © The Economist Intelligence Unit Limited 201315Voice of the customer Whose job is it, anyway?1 Significantlyincreasing2 3 4 5 SignificantlydecreasingAdvertising/agency experienceTechnical expertiseTeam buildingCommunications expertiseCreativityData-driven analytical capabilityCustomer insightIndustry expertiseLine-of-business knowledgeGeneral business acumenPattern recognitionSocial media expertiseVisual/design aestheticsWhich skills needed by the CMO are gaining or losing importance?Rate each skill on a scale of 1 to 5, where 1 = Significantly increasing and 5 = Significantly decreasing.(% respondents)6 33 33 21 711 29 41 17 322 41 30 6 224 45 27 417 40 33 9 125 35 32 7 128 36 29 5 114 38 37 9 212 36 42 9 118 36 38 7 210 31 49 8 216 44 31 9 17 28 46 17 21 Excellent 2 3 4 5 Poor Don’t knowEstablishing a clear business case for new marketing investmentsDelivering customer insights that drive business valueDelivering measurable ROI for marketing expendituresCollaborating across functions to improve business performanceBuilding relationships with customersDifferentiating the value of your brand from your competitorsHow effective is your organisation’s CMO in the following areas?Rate on a scale of 1 to 5 where 1 = Excellent and 5 = Poor.(% respondents)10 34 37 13 4 211 38 32 14 3 211 28 36 16 6 311 37 34 13 4 216 35 31 13 2 319 35 32 11 2 11 Stronglyagree2 3 4 5 StronglydisagreeOur company is a customer-centric businessOur company has a clear understanding of our customers’ tastes and needsOur organisation has the data, tools and process in place to react quickly to changes in customer behaviour or other customer dynamicsWe are using social media effectively to engage customers with our brandWe are using mobile media to effectively reach customers wherever they wish to engage with our brandWe are able to track the value of marketing investments across functionsWe are able to track the value of marketing investments across channelsIndicate the extent to which you agree or disagree with the following statements.Rate on a scale of 1 to 5 where 1 = Strongly agree and 5 = Strongly disagree.(% respondents)19 41 30 8 313 43 37 7 19 30 37 19 57 25 39 19 109 25 33 21 126 30 38 21 59 30 35 20 6
  • © The Economist Intelligence Unit Limited 201316Voice of the customer Whose job is it, anyway?SalesCustomer serviceProduct developmentMerchandisingResearch and developmentOperationsFinanceHuman resourcesITDon’t knowIn your opinion, to which areas of your business does your marketing function deliver significant business value?Select all that apply.(% respondents)595149311918171483Lack of a strategic role for marketing in the organisationHiring and retaining skilled marketing talentInability to turn data into actionable insightsLimited ability to demonstrate ROI/accountability of marketing investmentsDisagreement about the role of marketingDifficulty in mining “big data” for customer insightsLack of senior management support for marketing investmentsMisalignment between marketing investments and business objectivesLack of transparency across customer touch pointsSharing insights quickly across the organisationOtherWhat are the primary internal barriers that impede marketing from delivering more value to your organisation?Select up to three.(% respondents)383633322825211615131Driving revenue growthFinding new customersImproving your organisation’s reputationCreating new products and servicesEntering new marketsRetaining existing customersWhat should the marketing function’s top priority be at your organisation?(% respondents)301716131310
  • © The Economist Intelligence Unit Limited 201317Voice of the customer Whose job is it, anyway?Improving your organisation’s reputationRetaining existing customersCreating new products and servicesDriving revenue growthFinding new customersEntering new marketsTo which area has marketing contributed most in the past year?(% respondents)222217151313Head of salesIt’s a shared responsibility across multiple rolesCMOChief Customer OfficerBoard memberChief Executive OfficerChief Strategy OfficerWho is considered the “voice of the customer” at your organisation?(% respondents)31211812883CMOIt’s a shared responsibility across multiple rolesHead of salesChief Customer OfficerBoard memberChief Strategy OfficerChief Executive OfficerWho in your opinion should be the voice of the customer?(% respondents)28231713765
  • © The Economist Intelligence Unit Limited 201318Voice of the customer Whose job is it, anyway?Face to faceEmailCorporate websiteCall centreMobile devicesTraditional media (print, TV, radio)Social mediaOnline media (e-commerce website or 3rd-party websites)Direct mailWhat are your company’s most effective channels for customer engagement?(% respondents)59463925242119189Face to faceSocial mediaMobile devicesOnline media (e-commerce website or 3rd-party websites)Corporate websiteEmailTraditional media (print, TV, radio)Call centreDirect mailWhat do you expect the most effective channels will be 3 years from now?(% respondents)50473534312714125Superior: Our customer data is integrated across channels and can be shared and mined effectively for insightsAverage: We are making good progress integrating different channels and data sources to gain a more comprehensive view of the customerLagging: Our customer channels are siloed, giving us little transparency across different touch pointsHow would you describe your company’s ability to track customer engagement across different marketing channels?(% respondents)186121
  • © The Economist Intelligence Unit Limited 201319Voice of the customer Whose job is it, anyway?Customer relationship management (CRM)Brand advertisingCollaboration toolsCustomer analyticsTraining employeesDirect marketingReputation managementMarketing automation toolsSocial mediaNew hiresMobile application developmentWeb optimisation toolsIn what areas should marketing focus investments in order to contribute most to your business now?(% respondents)51402827242417171514138Customer analyticsCustomer relationship management (CRM)Social mediaMobile application developmentBrand advertisingReputation managementTraining employeesDirect marketingMarketing automation toolsCollaboration toolsNew hiresWeb optimisation toolsIn what areas should marketing focus investments in order to contribute most to your business in 3 years?(% respondents)41382922222121201918169
  • Voice of the customer Whose job is it, anyway?© The Economist Intelligence Unit Limited 201320Customer satisfactionSales leadsCustomer engagementRevenue from expendituresBrand awarenessProfit from expendituresSales conversionBusiness analyticsCustomer retentionReferralsCustomer lifetime valueOtherWhich performance metrics does your organisation employ to track Return On Marketing Investment (ROMI)?Select all that apply.(% respondents)504034333331312823211521 Veryeffective2 3 4 5 VeryineffectiveDon’t knowAligning marketing strategy with overall business objectivesFinding new customersIncreasing the cost effectiveness of marketing investmentsProactively identifying new ways that marketing can add business valueConnecting customer feedback to new product/services creationRetaining existing customersEngaging customers across multiple platformsTracking customer value across multiple platformsLinking customer engagement across business functionsHow effective is your company’s marketing function in each of the following areas?Rate on a scale of 1 to 5 where 1 = Very effective and 5 = Very ineffective.(% respondents)10 36 37 12 2 27 33 40 14 3 28 26 42 17 4 38 31 36 19 4 27 31 39 17 4 212 34 36 12 4 26 32 37 18 4 35 23 35 26 8 35 27 41 21 4 21 Stronglyagree2 3 4 5 StronglydisagreeDon’t knowOur company can clearly demonstrate marketing’s contribution to top-line revenue growthMarketing can show direct linkages between our customer engagement and our financial performanceWe have fully integrated digital media into our marketing mix and have built proven models for digital media measurementWe have established metrics/dashboards for tracking and measuring customer engagementPlease indicate the extent to which you agree or disagree with the following statements.Rate on a scale of 1 to 5, where 1 = Strongly agree and 5 = Strongly disagree.(% respondents)7 29 37 19 6 29 31 35 16 7 26 19 35 28 11 18 28 35 18 9 2
  • Voice of the customer Whose job is it, anyway?© The Economist Intelligence Unit Limited 2013 211 Significantlyahead2 3 4 5 SignificantlybehindDon’t knowPerformance of marketing investmentsOverall financial performanceHow would you rate your company’s performance in the last year compared with that of its peers?Rate on a scale of 1 to 5 where 1 = Significantly ahead and 5 = Significantly behind.(% respondents)7 34 40 12 3 416 32 42 8 1 1302326516$100m to $499m$500m to $999bn$1bn to $4.9bn$5bn to $9.9bn$10bn or moreWhat are your organisation’s global annual revenuesin US dollars?(% respondents)Western EuropeNorth AmericaAsia-PacificLatin AmericaMiddle East and AfricaEastern EuropeIn which region are you personally located?(% respondents)402724621United States of AmericaAustraliaGermanyNetherlands, DenmarkCanada, United KingdomIndiaMexico, Hong KongBrazil, Singapore, Thailand, Argentina, Colombia, Indonesia,Switzerland, China, France, Italy, Malaysia, South Africa, Spain,Turkey, United Arab EmiratesIn which country are you personally located?(% respondents)19111098721Board memberCEO/President/Managing directorCFO/Treasurer/ComptrollerCIO/Technology directorCMO/Head of marketingOther C-level executiveSVP/VP/DirectorWhich of the following best describes your title?(% respondents)4254228928MarketingStrategy and business developmentGeneral managementSalesFinanceOperations and productionSupply-chain managementRiskITR&DCustomer serviceInformation and researchProcurementLegalHuman resourcesOtherWhat are your main functional roles?Select up to three.(% respondents)59343218121210877655321
  • © The Economist Intelligence Unit Limited 201322Voice of the customer Whose job is it, anyway?Financial servicesConsumer goodsIT and technologyManufacturingProfessional servicesHealthcare, pharmaceuticals and biotechnologyRetail/WholesaleEnergy and natural resourcesAutomotiveConstruction and real estateChemicalsTelecomsAgriculture and agribusinessEducationEntertainment, media and publishingTransportation, travel and tourismAerospace and defenceGovernment/Public sectorLogistics and distributionWhat is your primary industry?(% respondents)141188877755443222111
  • © The Economist Intelligence Unit Limited 201323Voice of the customer Whose job is it, anyway?Whilst every effort has been taken to verify the accuracy of thisinformation, neither The Economist Intelligence Unit Ltd. nor thesponsor of this report can accept any responsibility or liabilityfor reliance by any person on this white paper or any of theinformation, opinions or conclusions set out in the white paper.Cover:Shutterstock
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