Abstract
Customer analytics has moved to center stage and customer analytics budgets are rising rapidly. It is surprising, then, that many chief marketing officers (CMOs) are uncertain about whether these investments improve firm performance. We address this apparent disconnection using a multi-method approach. Using a large-scale global survey at two points in time, we first show that the use of customer analytics is positively related to firm performance. Second, from among a set of factors identified in the literature, we show that top management team (TMT) advocacy of customer analytics is by far the most important one influencing the degree to which firms use customer analytics. Third, we find that TMT advocacy is also critical for ensuring that customer analytics use results in a positive payoff—an outcome that remains elusive in many firms. Finally, we report on a set of in-depth interviews that offer insight into why TMT advocacy plays such an influential role and identify steps TMTs should take to facilitate the use of customer analytics in their firms.
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