As you think about ways to improve your marketing, the key is getting in the head of CMOs: what are their goals, fears, and pitfalls? It should be no surprise that proving ROI and digital adoption remain top priorities, but there are some other considerations that you should be aware of too. Continue reading to gain a better understanding of the direction CMOs are headed and how to tune your marketing to reflect them.
93% of CMOs say that they are under more pressure to deliver measurable ROI (Adage).
As marketers continue to gain influence within the executive team, justification is a requirement. This is most commonly sought in the form of ROI, as this metric connects your actions directly to the bottom line. Ensuring that each of your marketing channels has accurate attribution makes proving ROI tremendously easier.
Executives estimate that, at best, their companies are 25% of the way toward realizing the end-state vision for their digital programs. And 33% of organizations see digital transformation as a huge challenge (Santoku Partners).
Digital marketing is growing up. It has finally received recognition at the highest of levels, but has still not been fully adopted by the majority of companies. Rapid digital adoption is necessary. It may be a tremendous challenge, but CMOs know the returns are worth it.
For 63% of senior executives, the pace of digital transformation isn’t happening quickly enough (Santoku Partners).
Most companies have a long way to go to reach their digital goals. However, the majority of senior executives are not satisfied with the rate of movement towards digital. Digital innovation within your organization needs to happen at a rapid pace to gain the edge in your industry and raise your marketing to new heights.
Only 12 percent of 200 CMOs surveyed said they had a real-time, well-integrated view of customer interactions across their enterprises, and 45 percent said they felt they had underinvested in information and intelligence systems. As a result, only 16 percent said they trusted the accuracy, depth, and reliability of their customer data (DMNews).
Customer data and the way companies use it continues to be a difference maker. As personalization continues to become more important to the customer journey, having a robust knowledge of your customers will put you squarely ahead of the competition.
80% of CEOs say they don’t trust their marketing teams—and marketers know it. (Kapost).
Don’t worry, this scares us too. Gaining the trust of your CEO requires proof that you are moving in the right direction and providing quantifiable results. Trust from your chief executive comes as a result of proving your ROI.
39% of marketers plan to increase their digital budgets without increasing overall marketing spend, essentially reallocating existing budgets into digital channels (CMO Council).
Digital marketing provides incredible marketing channels to get your brand’s message in front of the right audience, at the right time. Optimize your digital marketing for offline conversions as well as online to get the most out of your digital ad spend.
Chief marketers live and die by their data. And these statistics show that digital transformation is at the top of the priority list. It is crucial to get your marketing organization to digital maturity as quickly as possible. As you strive to get there, keep in mind that proving the impact of your marketing efforts through ROI is crucial for success as a CMO or marketer at any level. With that in mind, here is a webinar that will help you prove the ROI of your digital marketing: Optimization Search, Social, and Display in a Mobile World.
