The CCO Council Annual Chief Customer Officer Study
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With publication of the CCO Study, Curtis Bingham once again spearheads the cause of chief customer officers worldwide. The study is a unique synthesis of statistics and analysis portraying the current state of CCOs and similarly titled senior-most customer executives.
There can be no question that we’ve firmly entered the Age of the Customer. The democratization of information afforded by the Internet and the continued explosion of social media forms and channels have given customers a whole new position and never-before-seen leverage with business. But for all the information and materials keying customer buzzwords like experience and loyalty, virtually no one is studying the roles and the people leading this pivotal, new era.
The CCO Council’s CCO Study fills this gap with hard statistical data regarding the role, its global distribution, and industry diversity, as well as original analysis of trends in the role’s deployment, function, and potential future. Chief customer officers and similarly titled executives occupy a unique position from which to leverage customer and organizational insight in making strategic decisions, creating value, and inspiring groups of people inside and outside their companies. They are ultimately responsible for customer retention, satisfaction, loyalty, and engagement, stated goals for virtually every company doing business today.
The CCO Council’s CCO Study is designed to enlighten, instruct, and advance these critical roles and their singular mission. It provides them and their leaders with vital, original intelligence, specific recommendations, and practical strategies that will ensure their companies achieve greater customer centricity and long-term profit.
The 2014 CCO Study
EXECUTIVE SUMMARY
The chief customer officer (CCO) is becoming a staple of modern business: 22% of Fortune 100 companies and 10% of Fortune 500 companies have adopted the role. It is common in small companies and, to a lesser extent, enterprise companies, but inexplicably uncommon in mid-size companies.
The average tenure has lengthened from 23 months in 2009 to 34.5 months in 2013.
CCO Council member tenure is an extremely robust 54.2 months.
The role is most commonly found in technology sectors and is largely concentrated in the US; however, worldwide adoption has increased in recent years. But despite its gains in exposure and duration, the position is still volatile. This is due in large part to the lack of standardization in how it is defined. It also stems from the challenges to proving definitive ROI.
In earlier days, the CCO role was a terminal position. Most CCOs retired from their jobs; they were not usually promoted. For the first time, however, CCOs are experiencing upward mobility, receiving promotions to COOs, presidents of business units, and even CEOs. Based on the findings of this study, there are a number of recommendations and strategies for business leaders to consider, ensuring greater customer centricity and long-term profits.
TABLE OF CONTENTS
I. Strategic Recommendations for CEOs, boards, and CCOs
II. Premise, Definitions, Sources
III. Limitations
IV. Distribution by Country
V. Distribution by Company Size
VI. Rate by Adoption by Year
VII. Distribution by Industry
VIII. CCO Tenure
IX. Member Tenure
X. Volatility in the Role
XI. Career Paths
XII. Conclusion
TABLE OF FIGURES
I. Distribution by Geographical Region
II. Historical CCOs by Company Size
III. Distribution of Active CCOs by Company Size
IV. Growth of Current CCOs by Year
V. Current CCOs by Industry (All)
VI. Average C-Suite Tenure
VII. CCO Council Member Tenure
VIII. Historical Trend of CCOs by Year (All)
IX. Career Paths for CCOs Changing Roles in 2013
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If you would like to discuss further these results or engage Curtis to help you define and measure the CCO role, mentor you as a CCO, or help your organization better engage customers, please contact Curtis at 978-226-8675.