The role of the Chief Marketing Officer is alive and well and will stay that way in the future – but it’s in for some major changes, concludes a new study from the World Federation of Advertisers (WFA).
The WFA research highlights the need, it says, “to look beyond the cult of the CMO as the person with ultimate wisdom in all the complex areas that now affect the role”.
Team capabilities, and the softer skills needed to effectively lead a team, are increasingly critical for CMOs, the report says.
Marketers’ ever-expanding responsibilities typically range across nine distinct areas, the WFA finds, from marketing strategy (79%) through to data ethics (34%), business growth (58%) through to sustainability (37%).
Many of these areas are expected to become increasingly important during the next five years, with 80% of respondents citing sustainability, 77% the need to manage digital martech and platforms, and 74% the role of data ethics.
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