In a recent study conducted by Asia’s research giant, 100 Global CMO’s shared their accomplishments in 2013 and goals for 2014. The CMO’s were picked across the automotive, banking, communications, retail, CPG and hospitality industries and questioned on various qualitative and quantitative stances to gauge brand objectives for the new year.
The study confirms a long held notion that CMO’s must start focusing on analytic’s and a lean start-up methodology towards marketing campaigns. It also comes in in line with the wave caused by the proliferation of marketing cloud, such as Adobe’s Marketing Cloud which includes Experience Manager in allowing not just analytic’s but also interpretation metrics.
Alongside measuring the outcomes, CMO’s are demanding more from the Price & Place components of their marketing mix, restructuring resources towards conversions for profitability and utilizing analytic’s to make it happen. A high quality sales pipeline would undoubtedly stem from responsive marketing campaign that use what works and discard what doesn’t. The analytic’s then cultivate a set of goals to inform the strategists on the best combination of tools for success bouncing between these top 3 mandates. Given the panel discussions taking place at marketing conferences around the world, the results of this survey are spot on. It’ll be up to the planners at agencies to respond with pitches that take into account all these factors and for academics to research into what works, why it works and how its applicable across B2B and B2C industries.
We’re looking forward to a follow-up study and will be discussing these results in video interviews in our online series, so stay tuned!