As customer needs and technology change, the role of bank chief marketing officer has evolved from chief marketer to chief customer advocate.
Banking Strategies May 8, 2012 By Robert Stowe England Banking customers have someone new to represent their concerns and it’s someone inside the bank – the chief marketing officer (CMO). The CMO has become “the ultimate advocate or voice of the customer,” says Bill Marks, who holds the CMO position at Memphis-based First Tennessee Bank. “In the past, the CMO might have been an ad guy or all about the creativity – and that’s still important,” Marks says. “But what we’re seeing now, in general, is the rise of what I would call the business-focused CMO, or the analytically-focused CMO.” Read more here.
Robert Stowe England is an author and financial journalist who has specialized in writing about financial institutions, financial markets, retirement income issues, and the financial impact of population aging.