A new study from Deloitte and the ExactTarget Marketing Cloud has highlighted the priorities among global chief marketing officers (CMOs), with 61 per cent pointing to data acquisition as one of their biggest challenges for the coming 12 months.
The report questioned 228 marketing leaders from across the world, identifying five of their biggest challenges in 2014.
Some 53 per cent said that they are being given more responsibility when it comes to enabling revenue growth, particularly with the recent developments taking place in digital marketing.
Technology budgets are also increasing among marketing teams as companies attempt to keep up with the pace of change, 38 per cent of respondents suggested.
Customer experience is also likely to play a big role in their thinking in the future, meaning that some of those boosted technology budgets could be spent on CRM software.
This was highlighted by the fact that 38 per cent of CMOs consider improving the way they relate with customers a key shift in their role, as digital marketing continues to mature, while 23 per cent admitted to feeling inadequately prepared for such a development.
Frances Yu, director of Deloitte Consulting, said the role of the chief marketer has expanded a great deal in recent years.
“CMOs should chart their own path to provide answers to changing consumer demands, new channel adoption, upgrading technology strategies and marketing talent challenges,” she added.
Two other areas where CRM could help marketers keen to keep up with the pack is in data-based insight and real-time response, both priorities identified through Deloitte’s survey.
Agile and flexible processes were described as crucial by 59 per cent of CMOs, with 50 per cent planning to invest in web personalisation in the future, despite the fact that only 16 per cent do so at the moment.
Finally, supplying a solid return on investment was also considered to be important, with budgets still relatively tight – again, CRM software can make this process easier.