That explains why 46 percent of CMOs reported that their top priority for future investment would be to improve customer experience or enhance digital channels.
In addition to the multiple new roles and responsibilities being taken on by CMOs, there’s one key role that should be considered absolutely essential — Inventor.
By inventing ways of reaching, attracting, and retaining customers, organizations can create unique relationships that can survive disruption.
The other roles being taken on by CMOs will provide fertile soil for inventive thinking.
- Chief collaboration officer: By collaborating across so many disparate areas of an enterprise, marketers will better recognize the untapped potential of the enterprise.
- Customer experience officer: By closely observing and analyzing customer journeys at a highly granular level, marketers will uncover ways in which the customer experience can be improved.
- MarTech chief information officer: By investing in the latest MarTech innovations, marketers will be in a position to execute upon innovative strategies that make new uses of emerging technology.
- Change leader: By developing skills in leading change, marketers will have the clout to launch true innovation within their organizations.
By combining these insights and capabilities, CMOs will be positioned to come up with new thinking that has the best chance to succeed. In their new roles, marketing leaders will have the insights, expertise and relationships to be at the strategic center of the transformation of the financial services enterprise.
The future will belong to financial institutions that deliver large-scale, intelligent personalization in ways that highlight appropriate aspects of service quality, reputation, pricing, products, and technology.
The authors would like to recognize the following EY professionals for their support and contribution to this report: Rashmi Singh, Nancy Gordon, Alyssa Smith and Jennifer Younts.