A good number of digital retail marketing leaders are looking for new jobs.
Forty-two percent of executives predict they will interview at other companies within six months, according to a survey by performance advertising software company Nanigans. Also, over the past seven years, respondents report their companies have had an average of 2.6 chief marketing officers.
The survey of 100 digital advertising decision-makers — including chief marketing officers at some of the largest online retailers in the U.S. — found that despite marketing being tasked with revenue accountability, roadblocks — including increased demands, organizational challenges and external market forces — prevent success.
Based on the survey results the top three priorities of retail marketers are: improving ROI / boosting sales (27%), customer acquisition and retention (24%), and expanding / increasing market share (24%). These objectives underscore the pressure senior-level marketers face to prove results as competition and customer expectations simultaneously increase.
Other key survey findings include:
• Fifty-eight percent of marketing leaders have seen their roles become fragmented among different executives;
• Ninety-three percent of marketing leaders sometimes or often need buy-in from non-marketing executives on growth-related initiatives;
• Less than a third (30%) of respondents strongly agree that the measure of success for the marketing organization is clearly defined and known across the company; and
• The top three topics marketers are actively having conversations about include: data privacy and security (58%), artificial intelligence and machine learning (53%), and regulation and compliance – including the General Data Protection Regulation (47%).
“Our research findings speak to the confusion and transformation taking place in marketing today. It’s unclear who owns this critical business function, especially as new roles emerge such as the chief digital officer or chief growth officer,” said Ric Calvillo, co-founder and CEO of Nanigans. “To maintain order and drive growth, modern CMOs need independence and autonomy, setting clear metrics and objectives across the organization.”