IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

Why businesses that prioritise CX generate 11% higher shareholder returns

Tue 23 Apr 2019
FYI, this story is more than a year old

A small number of innovative chief marketing officers (CMOs) are helping their organisations generate shareholder returns 11% higher than industry peers by delivering hyper-relevant customer experiences, according to a new report from Accenture.

Based on a global survey of nearly 1,000 CMOs and more than 500 CEOs at the world’s largest organisations, the report — Way Beyond Marketing – The Rise of The Hyper-Relevant CMO — found that the top 17% of marketing leaders are driving transformational change at the highest levels of their organisations, helping them respond quickly to changing customer needs by enabling better integration and collaboration and deliver superior customer experiences.

Commenting on the report, Michael Buckley, managing director for Accenture Interactive in Australia and New Zealand believes these customer experiences are challenging the status quo of traditional organisational structures.

“Locally, consumers are becoming more open to engaging in services and offerings that are hyper-personalised. As a result marketing leaders need to find creative ways to reinvent the customer experience and set themselves apart from competitors.

“They need to become what we call ‘living businesses’ —  to  anticipate and respond to changing customer needs at speed and deliver significant business value.”

Marketers leading the growth agenda 

Data has evolved to be a key strategic asset for marketing leaders. The report revealed nearly one-third (31%) of the CEOs globally surveyed expect CMOs to drive growth using customer data and insights to create new products, services and experiences. While marketers recognise brands have increased access to customer data, an equal number of Australian and global CMOs (69%) admit they are struggling to apply the insights to their marketing strategy.

Purpose driving profit

With consumers increasingly buying from brands that have a clear purpose that aligns to their personal values and beliefs, leading CMOs understand the importance of being highly relevant to their customers’ lives. Three-quarters (76%) of CMOs globally believe that consumers have higher expectations today of a brand’s purpose, compared to 63% of Australian CMOs surveyed.

New skills driving growth

As the role of marketers continues to undergo a profound shift, the vast majority (90%) of CEOs and CMOs globally agree that the function will change fundamentally over the next three years. The report notes that leading CMOs are ahead of the curve, thinking entirely differently about the kind of roles and skills their teams will need to be successful in the future. Australian respondents cite roles such as customer experience curators (72%) and immersive experience designers (57%) as the most desirable roles to succeed in delivering a hyper-relevant customer experience. 

“CMOs need to lead an effective, joined-up customer experience at all touch points, at pace and scale, to drive growth,” said Buckley. “In essence, there are four key actions they must take: using advanced customer insight and analytics to shape the future; building the marketing and sales capabilities of their people and organisation; leveraging partnerships to create innovative new products, services and solutions; and delivering cost-effective technological activation of personalised and scalable marketing programs.” 

Related stories
Top stories
Story image
trust
9/10 Aussies to stop spending if personal data compromised
"Based on the patterns we are seeing among Australian consumers, it is evident that trust in a brand is exceptionally important."
Story image
Artificial Intelligence
AI-based email security platform Abnormal Security valued at $4B
"A new breed of cybersecurity solutions that leverage AI is required to change the game and stop the rising threat of sophisticated and targeted email attacks."
Story image
CRM
Zendesk announces new conversational CRM solutions
“The last few years have made it obvious that digital is the front door, convenience is paramount and relationships are anchored in conversations."
Story image
Workato
Workato unveils enhancements to enterprise automation platform
"The extra layer of protection with EKM, zero-logging, and hourly key rotation gives customers a lot more visibility and control over more sensitive data."
Story image
Veryfi
Veryfi announces Mobile Receipt Capture for D2C marketing apps
Veryfi has announced a new enhancement to its portfolio, with Mobile Receipt Capture for direct-to-consumer marketing apps.
Story image
Mobility
Hands-on review: STM laptop bags
The advent of hybrid working has meant we need laptop bags. We got our hands on two of the most popular laptop bags from STM.
Story image
Adyen
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
SaaS
Cloudflare launches instant serverless database for dev teams
"Today we’re announcing our first serverless database which we expect will quickly become one of the largest databases in the world."
Story image
Artificial Intelligence
ANU and Seeing Machines to use AI to improve driver safety
The Australian National University and Seeing Machines have won a grant to develop AI systems monitor human behaviour while driving.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Wasabi Technologies
Wasabi opens new cloud storage in Australia with Equinix
Wasabi Technologies has opened a new hot cloud storage region in Sydney, Australia, using Equinix services. This is the company's 12th global storage region.
Story image
SAS
New SAS service overcomes subscription fatigue for media companies
SAS has launched SAS 360 Match which helps media companies move towards a AVOD model to generate revenue as subscribers cancel.
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
Talend
Talend introduces new data health solutions for businesses
Talend has announced its latest version of Talend Data Fabric, with the release of Talend Trust Score enabling data teams to establish a foundation for data health.
Story image
Manufacturing
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub. 
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Remote Working
How zero trust and SD-WANs can support productive remote working
The way people connect with applications and data has changed, users are remotely accessing resources that could be stored anywhere from a corporate data center to the cloud.
Story image
Microsoft
SAS Viya on Microsoft Azure to deliver 204% return - study
The Forrester Total Economic Impact study finds SAS Viya on Microsoft Azure brings a 204% return on investment over three years.
Softiron
For every 10PB of storage run on HyperDrive vs. comparable alternatives, an estimated 6,656 tonnes of CO₂ are saved by reduced energy consumption alone over its lifespan. That’s the equivalent of taking nearly 1,500 cars off the road for a year.
Link image
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Story image
Remote Working
IT teams deploy powerful technologies to enable remote work
"We found that IT teams mastered the challenges of remote work last year in large part by employing powerful yet easy-to-use technologies."
Story image
Artificial Intelligence
SAS launches human-focused responsible innovation initiative
SAS has launched a responsible innovation initiative, furthering its commitment to equity and putting people first.
Story image
Public Cloud
Cloud adoption still a work in progress, NetApp finds
NetApp has announced the results of the annual Cloud Infrastructure Report based on a survey of public cloud business and IT decision makers.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Wireless
SmartCIC, BICS partner to expand wireless service options
SmarCIC has partnered with BICS to increase choice for organisations using fixed wireless services, expanding existing carrier relationships for its CELLSMART division.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Hawaiki Cable
BW Digital completes acquisition of Hawaiki Submarine Cable
BW Digital has completed its full acquisition of Hawaiki Submarine Cable, with all applicable regulatory filings and approvals now received.
Story image
Testing
Google and CSIRO use AI to help protect the Great Barrier Reef
Google has partnered with CSIRO in Australia to implement AI solutions that help protect the Great Barrier Reef.
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Safety
Voxel hits total funding of $18M following ongoing wins
Since raising its seed round in September, Voxel has grown at pace, by decreasing on-site injuries by upwards of 80% and increasing operational productivity.
Story image
Sustainability
Grasping the opportunity to rethink the metrics of a sustainable data centre
A data centre traditionally has two distinct operations teams: the Facility Operations team, and the IT Operations team. Collaboration between them is the key to defining, measuring, and delivering long-term efficiency and sustainability improvements.
Story image
Sustainability
Siemens showcases new automated solutions for data centers
Siemens has implemented new automated solutions and AI in the Baltic region's largest data center, providing insight into the future of data center management.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Fortinet
Fortinet's Security Fabric hits new record for integrations
The Fortinet Security Fabric has surpassed 500 technology integrations with more than 300 Fabric-Ready Technology Alliance Partners.
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from IronNet
Michael Ehrlich joins us today to discuss the history of IronNet and the crucial role the company plays in the cyber defence space.
Story image
Remote Working
How organisations can meet employees' changing expectations
The global employment market has shifted dramatically in favour of employees, sparking the so-called great resignation, in which people are leaving unsatisfying roles in search of greener pastures.
Story image
Cybersecurity
Managed service providers: effective scoping to avoid costly vendor pitfalls
Managed security services are outsourced services focusing on the security and resilience of business networks.
Story image
Oracle
Prophecy International migrates VMware environment with Oracle Cloud Solution
The Adelaide-based global provider is using the solution to eliminate the need to re-write applications, therefore allowing the company to enhance its business operations.
Story image
Digital Transformation
Unlocking the next digital frontier for educational institutions
Understanding where to invest in technology can be challenging for education institutions, especially after the COVID-19 disruptions.
Story image
Cybersecurity
The 'A-B-C' of effective application security
Software applications have been a key tool for businesses for decades, but the way they are designed and operated has changed during the past few years.
Story image
Sustainability
Power at the edge: the role of data centers in sustainability
The Singaporean moratorium on new data center projects was recently lifted, with one of the conditions being an increased focus on power efficiency and sustainability.