Experts urge CMOs to adapt as global brands shift focus to data-driven marketing
By Felicia Nwosu
As global brands increasingly eliminate the Chief Marketing Officer (CMO) role, industry experts emphasize the need for CMOs to adapt by embracing new responsibilities that drive business growth and enhance customer experience.
Today, across the global marketing and communications space, notable brands are increasingly eliminating Chief Marketing Officer (CMO) roles in favor of data-driven positions focused on revenue generation.
Some notable global brands are leading this shift and it is gradually becoming a trend but some industry experts suggest that CMOs should expand their roles beyond traditional branding to include broader business growth and customer experience.
Kelechi Nwosu, CEO of TBWA Concept, underscores the importance of value creation and measurement in marketing.
“For some of us, the challenge is how we make sure that we are creating value, if you create superior value. Think about this journey, data, analytics, how does the data fuel the work that you are doing. We must use data and analytics to predict outcomes, optimize campaigns, and demonstrate the tangible benefits of our efforts.”
Jude Odia, Managing Director of Starcom Media Perspectives, stresses the necessity of scientifically validating marketing’s value.
““Marketing seems more like art that people cannot measure, and that makes us first hit, once there is pressure on the revenue. With data, we need to show the value that marketing brings to the table if there is a professional application of marketing within a long period of time. Data is crucial in proving marketing’s impact on business performance and avoiding budget cuts,” he noted.
Sinmisola Hughes-Obisesan, Executive Creative Director at Publicis Groupe Nigeria, advocates for purpose-driven marketing.
“Marketing should not just sell products but also contribute to meaningful, positive change in society. It must be very purpose-driven and something that will drive change, positive change. When you are doing good, there is a feel-good feeling that you are doing something for humanity and that is actually where marketing is going. Beyond what they functionally do, how can you help people do better or live better, which as well, bring a positive outlook for the brand.”
Buki Osunkeye, a tech leader and growth marketing strategist, advises marketers to leverage technology and AI to maximize value.
“We need to be strategic and creative, extracting more value from existing resources without increasing costs. We need to get more creative, we need to look for ways to squeeze and get more value at the same cost. Don’t squeeze the budget, no. This is not the time to be cutting marketing budgets at all. This is the time to think of how much more value you can get from the same budget, while leveraging technology.”
Bolaji Okusaga, Managing Director of Market Engine, calls for innovative thinking in marketing.
“Marketers must bring growth opportunities to the table and rethink traditional strategies, especially during economic turmoil. “If growth is not on the table, marketing as a discipline will be affected, because we help to serve the purpose of growth within an economy. In this period of turmoil it is imperative to become an innovative player for more opportunities and also to begin to rethink the route to market.”
Dr. Tunji Olugbodi, Executive Vice Chairman and Group CEO of Verdant Zeal Group, attributes the elimination of CMO roles to technological advancements and changing consumer habits and proposed for up scaling of skillset
“We should reassess the CMO’s job description to include a broader, more versatile skill set. I don’t think it is because of they don’t have confidence in them, but because of the changing landscape of the consumer habit, and changes based on the dynamics of market itself, what you find is that increasingly, there is need to do away with middle men in many situations, and technology has democratized a lot of these things including our offerings, so you can reach the consumer directly. . My own would be, can we reassess the job description, so that you are not just looking for a CMO, but also for somebody who has a much more versatile compatibility to do much more.”
If then, you understand that tech can provide you the app to understand the consumer need and orientation, the route to market better, distribution, so you saying to yourself, these are all the things I need the CMO to do. My own would be, can we reassess the job description, so that you are not just looking for a CMO, but also for somebody who has a much more versatile compatibility to do much more.”
Morolake Emokpaire, Head of Marketing for Cadbury Nigeria Plc., emphasizes delivering profits to shareholders and maintaining brand promises.
“Providing quality products and convenient alternatives to meet consumer needs is crucial. I think number one is staying true to the promise of delivering profit to shareholders and investors. Number two staying true to the promise of our brands to continue to consistently deliver quality products at the right prices and meeting consumers’ needs. These are the greatest challenges that face manufacturers or business owners. You must be optimal to survive these challenging times and I think finally, the promise of right convenience alternatives for the consumer to choose from the power of variety within reasonable limits, these are critical implications for marketers and business owners to leverage upon.”
The industry experts therefore suggested that as the marketing industry transforms, CMOs must adapt by embracing new technologies, demonstrating value through data-driven insights, and aligning their roles with broader business goals to remain relevant.
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