Creating a customer-centric marketing organization provides significantly higher return on marketing investment (ROMI) and has become a driving imperative for chief marketing officers (CMOs) according to the benchmark report "The CMO's Strategic Agenda: Creating a Customer-Centric Marketing Organization."
Best-in-class companies consistently demonstrate proficiency in multiple marketing capabilities, which has a positive impact on performance. These top performers track customer behavior, use customer profitability modeling, maintain centralized knowledge and data management systems, and possess real- time decision support, including business intelligence tools integrated with marketing and customer data with higher frequency than benchmarked groups
Specifically, enterprises under $2B in revenues exceeded average performers in all metrics benchmarked. For example:
- Fifty percent of small (SME) and mid-market (MME) enterprises lead in capturing 70% of current customer profiles.
- Fifty-five percent have centralized customer knowledge and data management processes in place.
- Customer data is utilized to perform customer profitability modeling at rates significantly above average -- 41% versus 33%.
A majority of "customer-centric organizations" companies achieved better than 15% annual improvement in ROMI, gross revenues, and customer retention rates as a result of the following capabilities:
- Leaders leverage customer analytics, multi-channel interaction applications, business processes, and technology infrastructure integrated across brands and product lines.
- Best-in-class companies understand exactly the relationships their best customers want.
Aberdeen's "Creating a Customer-Centric Marketing Organization" benchmark research was launched with support from the American Marketing Association. The report is available free of charge here based on the generous underwriting of the following sponsors: Dun & Bradstreet Corporation, FrontRange Solutions, Infor, and Sage CRM Solutions.