Unlike many C-level executives, Chief Marketing Officers (CMOs) are without commonly accepted strategies and routine performance measures. This may be in part why CMOs so often dont get a seat at the executive table and incur such high churn. So whats a CMO to do? In this
Professor Turpin says that the chief marketing officer position is no longer tenable because most CMOs are simply executing a communications strategy. As Turpin put it, “The chief executive sets the overall strategy, the research and development and innovation teams design the product, and the chief financial officer determines pricing and departmental budgets.” Professor Turpin argues that the CMO should be replaced by a “chief customer officer” whose primary role would be to listen and communicate the views of customers across the company.
Whether or not you agree with Professor Turpin, it seems clear that many CMOs have a significant credibility problem in the C-suite. In a study by The Fournaise Marketing Group , 80% of CEOs said they don’t really trust marketers, and 64% said they have taken away product and pricing powers from CMOs because those functions are too important for business success to let marketers control them.
Doremus optimism is rising among global executives around the world.
Across four key metrics—global economic conditions, local economic conditions, industry economic conditions, and corporate outlook—more senior-level executives project improvements over the next six months vs. the same period a year earlier some 41 percent are expecting global economic conditions to improve over the next six months, up from the 25% who did so a year earlier. No more then 52 percent expect improvements in their own businesses over the next six months, up from the 39% who did so in 2011.
The outlook differs by geography: North Americans were the most optimistic overall, particularly about economic conditions locally and within their own industries. By contrast, Europeans were the most pessimistic, particularly regarding local economic conditions.
For the first time in nine years, senior execs ranked improving market share/competitive position (47%) as their top goal for the year. That shift pushed cost cutting into the No. 2 spot (43%), while developing/marketing new products/services (39%) ranked No. 3
Some long time IT observers and CIOs see the chief marketing officer as a threat to the CIO as nonsense.
But is he or she?
Weve seen this clash before, observes Enterprise CIO Forum community manager John Dodge.
In today’s market marketing teams are under more and more pressure to perform and get results. ROI is a magic word in marketing now-a-days, while budgets and resources are under pressure as well. In the meantime customers are holding back and getting less and less faithfull to just one brand. So, pressure is on for the marketing department, because you can only do so much to get better results.
There are several trends today which cause this higher pressure, says a paper by SAS.
How can marketers keep their head up in all this turmoil? How can they identify the best strategy that will deliver the best returns on from marketing investments?
Wilson Raj, Global Customer Intelligence Director at SAS shed his light on how to improve ROI on your marketing investments during a webinar sponsored by the Direct Marketing Association and SAS. Optimization is the keyword, he says.
The CMO now a days is quite a different one then twenty years ago. Digital and social innovation and the availability of better and more accurate data have affected everything: the way things are marketed and sols.
In this two-minute video [x+1] CEO John Nardonne tells how he thinks the role has changed since he began his career in the 1980s marketing for Pepsi.
Ross Graber serves as Research Director for the Marketing Operations Strategies service at SiriusDecisions. He brings over 15 years of marketing experience with focus spanning marketing measurement, demonstrating ROI, data management, process development, marketing technology, customer marketing and sales enablement. He sheds his light on measurement tools. The web is littered with people who know best for you and your organisation. They think they know what your marketing measurement needs to be like and look like.
But dont be fooled, Graber says. There’s way too much bad advice being dispensed from sources that you’d expect to be credible. Whether this advice is well intentioned or simply snake oil, b-to-b marketers need to be able to spot bad measurement advice and reject it.
In his article Marketing Measurement Snake Oil he explains three key points which any marketer should consider when shopping for tools to measure your marketing.
Outside looking in: the CMO struggles to get in sync with the C-suite is based on a global survey of marketing and non-marketing executives from 19 industries in 42 countries, and on in-depth interviews with senior executives from major companies.
The EIU report shows that a significant gap exists between CMOs and the rest of the C-suite regarding marketing’s strategic priorities. EIU asked survey participants to identify marketing’s top priority. The filelink:file0 below shows how both CMOs and non-marketing executives responded
Do you rely on hearsay when it comes to your marketingcampaigns? No you say? Feedback on your marketingcampaigns, showing results and measuring effectiveness. It sounds like every marketer would own one or more processes to do so, but do they?
Most senior marketers say they either have a formalized process or are using one when the situation calls for it. “But when it comes to the types of local market data used to impact campaign performance, those same marketers appear to be too reliant on ‘hearsay data’,” the CMO Council states in a new study.
Marketers are twice as likely to gather insights from field and business development teams as they are to examine online voice of customer listening and analysis (57% vs. 29%).
All you Marketing Managers, Mkt. Ops. Firefighters
We have great news for you, 2013 will not be boring! The pressure is on and many marketing transformation programs, which have been on the drawing table in 2012, will finally see the daylight this year. We cannot wait and will continue to update you on a daily basis on whitepapers, trends, press releases and events.
Let’s start with three interesting posts from last week to catch up.
1. The Top 5 Obstacles to Customer Experience Management Success in 2012 looks back to see trends and creates a benchmark.
3. The Mayas were wrong for 2012, do you think Will Margiloff is right for 2013 with his Five Bets On How Digital Marketing Will Change in 2013?
