According to the study, 37 percent of CMOs in the financial services industry identified “economic conditions” as the biggest driver forcing change in the way they market in the next two years. The financial services CMOs who cited economic conditions as the greatest driver of change were evenly split on the most critical externally facing change they need to make over the next two years. Half said it was revising their route-to-market mix, and half said it was shifting from product-centric marketing to audience-centric marketing.
The efforts to revise routes to market are heavily weighted towards challenges with improving measurement with in the marketing function. A combined 62 percent of industry CMOs stated that determining the correct measurements and getting closed-loop reporting were the biggest hurdles to revising the route to market mix.
For the financial services CMOs who identified shifting from product-centric to audience-centric marketing as the most critical change, a better understanding buyer personas and developing audience-centric content were stated as the biggest challenge by more than 70 percent of the respondents.
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