76% of CMOs not realizing revenue potential

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CMOs are not realizing the revenue potential of their brands. (keport/Getty Images Plus)

A joint study by the CMO Council and Sendwithus reveals that marketers are still struggling to connect consumers with brands as three-quarters of CMOs do not believe they are fully realizing the revenue potential of their brands. 

However, his is not a new problem, as marketers have been looking to connect consumers to the brand for more than a decade. In 2008, 76% of CMOs said they were not fully realizing the revenue potential of customers, and in this year's report, 77% of CMOs had the same response to the question. 

According to the report, just 36% of respondents are leveraging transactional emails as an opportunity to build a relationship. The 30% of CMOs that said they are engaging through triggered emails said the relationship is to acknowledge a past transaction, yet 94% of respondents believe communications is critical to a good customer experience. 

In an effort to change this cycle of bad communication, 64% of respondents said they plan to personalize communication across all touch points and find new ways to up-sell and cross-sell. 

But in order to achieve these goals, marketers will need to close the gaps that exist across marketing silos, said Matt Harris, co-founder and CEO of Sendwithus. This includes collaboration between teams to deliver these personalized experiences. 

"Transactional and triggered emails represent a massive opportunity to improve the customer experience and fuel growth, and effective, cross-functional collaboration is the key to unlocking that opportunity," he said.