Singapore's CMO scene is confident and comfortable with analytics, which should remain strong in the next 12 months, according to Oracle Marketing Cloud's CMO of Tomorrow study in Singapore.
The Singapore CMOs focus strongly on the Information Technology, professional services and retail sectors.
Singapore was weak on mobility compared to other locations, particularly in mobile apps and SMS even though executives highly rate email marketing, content marketing, analytics and CRM as disciplines their organisations were proficient in.
Unlike other parts of APAC, there were clear expectations around revenue accountability beyond digital marketing campaign metrics in the nation.
"While marketers in Singapore are generally embracing of new technology for their digital marketing efforts, CMOs need to make sure the brand and team understands and remembers that customer-centric KPIs should be the key indicators of success," said Joshua Koh, general manager, ASEAN, Oracle Marketing Cloud. "With the ever-rising expectations of customers, one bad customer experience can spiral and change a company's bottom-line instantly."
Enjoy working with analytics
Seventy percent of the island state's managers describe their organisations as excellent or good at gaining insights from analytics, and 72 percent indicated that they were excited by or enjoyed working with analytics.
Findings of the report indicate that Singapore is the only market not to cite budget as the biggest impediment to accelerate digital marketing.
Instead, it was a lack of understanding and education around the subject of digital marketing amongst marketers in Singapore.
For the next 12 months, social media, predictive analytics and personalisation will be the leading priorities, with email marketing and web analytics also rating highly.
"It is good to see the region acknowledging the importance of the role of a CMO, but in the same breath, it does mean that he or she has a larger role to play in driving the performance of companies, and they need to get it right," said by Joshua Koh, general manager, ASEAN, Oracle Marketing Cloud.
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