Large scale industry disruption caused by IoT, cloud and mobile technologies is forcing CMOs to reinvent how they interact with customers, IBM Commerce General Manager Harriet Green said.
“We are working directly with the world’s leading CMOs to help them seize the opportunities in cognitive commerce so they can rethink every aspect of their strategy, design and operations to enhance their customer experiences,” Green said, commenting on the results of a new IBM study.
The research found that two-thirds of global CMOs believe that the single greatest business challenge that they currently face is industry convergence, as disruptive technologies break down barriers.
The report surveyed 723 CMOs across the globe in 18 different industries. Almost 67 percent of CMOs are assessing their strategic direction in the light of technology disruption.
IBM said CMOs from leading organizations are more likely to embrace the “creative destruction” and build more open and collaborative business models to effectively drive innovation.
Further, IBM said CMOs consider creating better customer experiences their top priority. Three-quarters of leading CMOs are using more event and experiential marketing than market followers.