A new generation of marketeers to drive retail banks through turbulent times

The role of the Chief Marketing Officer in financial institutions has changed dramatically in recent years and is continuing to evolve. This new Efma conference therefore focuses specifically on the needs and challenges faced by CMOs. They no longer just need ‘traditional’ skills but also new capabilities, covering areas such as finance, IT and legal. They have a more strategic and tactical role than ever before. They have to be more agile to cope with an increasingly complex, rapidly changing and economically difficult environment. 

Meanwhile, they also need to become more customer-centric. The ‘digital revolution’ has changed customer behaviour: they increasingly expect a closer relationship; faster, real-time responses; and a greater depth of technical knowledge than ever before. Sales and Marketing departments therefore have to collaborate closely on issues such as customer acquisition and retention. Consequently, the CMO’s role is becoming more central, broader but also more exciting. In facing new challenges, CMOs might need to seek solutions in other sectors.