CEOs Want More ROI, How About Look In The Mirror
All those measurement companies offering services that would demonstrate a link between TV ads and product purchasing might get a few more calls from CMOs today. Turns out their bosses think their dedication to ROI is pretty wayward, at least according to new research.
An extraordinary 80% of CEOs “admit they do not really trust and are not very impressed by the work done by marketers,” says Fournaise Marketing Group. Those top executives have different opinions about their CFOs and CIOs as 90% “trust and value the(ir) opinion and work.”
The data culled from a survey of 1,200 leading global executives may be a bit self-serving as London-based Fournaise, a consulting and research group, would like to drum up business. There are also elements hard to fathom ...
Such as CEOs feel CFOs and CIOs are “100% ROI-focused – where every dollar spent must have a measurable, quantifiable and positive impact on the company’s P&L and operations.” Meanwhile, 74% of CEOs want marketers to take on that 100% focus.
So, the other 26% are cool with marketers experimenting with social media and working with a creative agency to make the corporate Web site as engrossing as a Monet?
The research, reported by MediaPost’s Steve McClellan, also shows 82% of CEOs want marketers to emphasize that link between marketing investment and profit. Again, not sure what the other 18% are seeking.
Still, if the overall thrust of the research is to be believed, there’s a sure-fire endorsement for the boom in research companies promising “single-source” data or quantifiable connections between ad watching and cash registers ringing. There seem to be more announcements about new products in that field than singing competitions on TV.
What if CMOs buy these services and still find their superiors overwhelmingly think their ROI pursuits are fruitless? Legendary media journalist Bob Garfield might have some advice, albeit guidance that could lead to a quick dismissal: start asking questions about the ROI in other aspects of the company.
After appearing at a MediaPost event, Garfield wrote a column referencing difficulties marketers might deal with in showing a CFO there is value in social media plays.
Turn the table, he suggests, and ask a CFO if there is demonstrable ROI for a rest room. Gotcha.
“Of course not,” Garfield wrote. “We need to have a place for our hygiene activities and that’s that. No key performance indicator necessary. So when the CFO demands for justification for your output, just say, ‘Sure, if you’ll give me the justification for yours.’”