Chief marketers are also stressed about new competition, and feeling extra burned out.
A GfK study of U.S. CMOs finds a dismal lack of confidence in their own data, analytics and insights.
CMOs have a variety of ways to obtain data that
guide their decision-making, though many are frustrated with the lack of tools to gain insights, the CMO Council and market researcher GfK found in a global survey of marketing leaders
. Among the data that help marketers
to improve key performance indicators (KPIs), media metrics were ranked as the most significant. About two-thirds (67%) of marketing leaders worldwide said content response and conversion data are
helpful, and 64% said ad performance metrics were helpful. “Content response can lead to customer conversion, acquisition and repeat purchases,” according to the report.
“Getting the right content to the right person at the right time can build toward a shortlist, a call to a sales rep or even an ecommerce transaction. Content response is a marketing KPI that
moves the revenue needle.” Only 39% of respondents said their social media following was a significant data point, and a mere 36% considered customer lifetime value (CLV) important for
measuring performance. CLV metrics aim to quantify how much money customers will spend on a brand during their lifetime. Marketers say they face a variety of hurdles in obtaining useful data.
Almost three quarters (73%) of survey respondents bemoaned insufficient marketing technology as a barrier, while 60% said lack of data management processes were concerning. “The
challenge is choosing the right solution from a sea of options,” according to the report. “The 2022 martech landscape is nearing 10,000 solutions and data marketers are overwhelmed with
"Many need to get better at extracting relevant data signals across channels, generating actionable insights, making insights available in real-time, and going deeper and more granular," Executive
Director Donovan Neale-May says.
Amid the changes in media and technology, marketing executives are looking to expand their production or sponsorship of original content.
"CMOs should embrace the fact that CEOs are crazy and mercurial as the new status quo," Boathouse's John Connors tells "Marketing Daily."
Martech is the top area for involving the procurement department, and creative services is less so, the CMO Council and KPMG report.
Marketing budgets climbed to 9.5% of total company revenue in 2022 -- up from 6.4% in 2021, but down from 11% in 2020 and 10.5% in 2019, according to Gartner.
Most customers don't understand what the notices actually mean to them, The CMO Survey reports.
Cookie-free data unions will become key components to understanding the complexities of consumer behavior. These permission-based platforms address the challenges and opportunities of the data-hungry
ad and research industries. What is the novel approach of data unions? Consumer ownership and agency over their data, including the ability to monetize it.
Gartner analysts predict changes in media, from mobile app tracking to how B2B companies will use machine learning to slow the customer journey. Strategic planning may be the most interesting part of
A decline for the next quarter aligns with the rise of the COVID-19 Delta variant and reapplication of pandemic protocols.
Only 4% of CEOs surveyed say the CMO is the most trusted member of the leadership team.
The findings suggest only 1 in 4 marketing organizations say they have a "very effective" CMO-CIO working relationship -- which ties directly to better performance.
Privacy concerns are driving 86% of marketers to invest more in first-party data and 77% in zero-party data, the CMO Club and SheerID report.
CMOs fell into one of three personas in 2020: Traditionalists, Progressives and Disruptors. Which describes you? Findings of a global study by Designit may surprise marketers.
Marketing budgets as a percentage of revenue fell to their lowest level in recent history, as CMOs continue to reprioritize channels, programs and resources.
Some 36% of execs working with data base decisions on instinct, about 22% think their data investments aren't worth it and 1/3 say creating a data-driven culture is a challenge, according to a
survey by Talend, which focuses on data integration and integrity.
Some 86% of senior marketers worldwide believe lack of leadership and capabilities has resulted in missed revenue.
Two-thirds of all brands are budgeting more, and only a fourth are cutting staff, a study by the CMO Council finds.
Data silos are increasingly frustrating consumers. Some 87% in a survey by the CMO Council found it frustrating when engaging in multiple channels and having to repeat themselves each time.
The pandemic has changed the playbook. In a study of how people and brands have responded to the pandemic and how some brands were able to flourish, Deloitte found that as times got tougher, consumers
expected from the brands they frequently use.
What you spend says so much more than what you intend. Budgetary commitment measures get to the heart of marketing strategies and the stories that underpin them. 2020 has been a year with more plot
twists than an Agatha Christie novel.
Brands' messages need to change, said CMO Council Chief Content Officer Tom Kaneshige. "They're expected to take a stand on social issues. They can no longer remain silent."
Contributions in research, science, data, analytics, and empathy embraced by Greg Lyons and his Pepsi team are cornerstones to establish great brands. Josh Chasin, chief measurability officer,
VideoAmp, was recognized with the Erwin Ephron Demystification Award by Leslie Wood, CRO, NCSolutions, who also interviewed him as part of the same ARF Great Minds Event.
A story ("Gartner CMO Spend Survey Shows How Digital Budgets Will Increase In 2021") in the July 6, 2020 edition of "Search & Performance Marketing Daily" stated that digital advertising
business-to-consumer (B2C) marketing budgets are expected to grow by 78% in aggregate in 2021, according to Gartner's 2020-2021 CMO Spend Survey. The Gartner research stat is specific to the number of
CMOs who expect digital advertising to increase, not how much digital advertising will increase.
Marketer confidence in the U.S. economy climbed significantly in February from the last time they were surveyed in August 2019, according to the latest installment of bi-annual tracking by The CMO
Survey, conducted by Duke Fuqua, Deloitte, and the American Marketing Association. February rose 2.8 points to a confidence index of 62.7 in February from an index of 59.8. The index represents the
average of respondents rating their confidence on a 100-point scale with 100 representing "most optimistic."
Third-party vendors are deluging the market with badly qualified, non-permission-based email lists, The CMO Council warns.
A recent benchmark report finds that 72% and 50% of B2B CMOs intend to increase spend on SEO and paid search, respectively, through year-end 2019.
Forrester has a dire warning for the CMO. As many brands ditch the title, its researchers suggest that 2020 will be the year in which CMOs collectively prove their worth or face extinction, according