Chief Marketing “Analytics or Digital” Officer [CMO]: Is the “Big Data” Alone Adequate for Firm’s Customer Retention & Return on Investment (Published)
Excellence in customer experiences is a top priority for the Chief Marketing “Analytics or Digital” Officer (CMO). The purpose of this study is to examine the effect of ‘Digital Marketing Analytics’ [DMA] on firms Return on Investment (ROI) and CMO’s performance in customer retention and acquisitions. The main question addressed by the study is: should the firm CMO engage more resources with social media analytics for customer retention & acquisition. This study used the quality content analysis methodology and relied on the recent marketing research articles, case studies, and digital analytics surveys. The results of the study suggests that the innovative CMO’s that embrace DMA to win the hearts and wallets of customers can influence the broader customer journey from the offer to the post-purchase care stage for continued positive impact on the firms desirable ROI. This research study provides strategic recommendations and directions for the future research.