Look for technology and marketing thought leadership every month from Marketing Magnified.
|Sign up for the Mailing List|
Chief marketing officers are under pressure to own critical areas of authority and influence inside enterprise organizations, reports the Chief Marketing Officer (CMO) Council in its second issue of PeerSphere, a peer-inspired, peer-driven, and peer-influenced quarterly journal. The cover story centers on the evolving role of the CMO and new requirements that must be met in order to develop and execute a successful marketing strategy.
In a recent study, "What's Critical in the Insurance Vertical," the CMO Council revealed that the insurance industry is in the enviable position of having consumers who are actively investigating where and how insurance organizations could become more involved in their lives. But the study also uncovered that insurance marketers did not have programs or strategies in place to truly exploit this opportunity through robust retention, cross-sell or upsell strategies.
Big data and analytics have climbed to the top of the corporate agenda, with ample reason. Together, they promise to transform the way many companies do business, delivering performance improvements not seen since the redesign of core processes in the 1990s. As such, these tools and techniques will open new avenues of competitive advantage.
An oft-cast-around buzzterm, ‘big data’ encompasses data collection and storage infrastructure, the generation of insights from the data and using the data to tailor interaction with customers. It’s one of the main challenges marketers are facing in the current landscape, according to a study by the CMO Council in August. The same study also predicted that by 2017 CMOs will outspend CIOs on information technology.
we must understand how smartphones are currently being used amongst shoppers and where our greatest opportunity lies. According to research done by both comScore and Forrester, four out of five consumers use smartphones to shop and an average of 22 percent of smartphone owners have used a shopping application in the past three months. Add to that, a fact uncovered by the CMO Council, 54 percent of North American consumers would consider ending their loyalty relationships if they were not given tailor-made, relevant content and offers.
Loyalty is a big business in travel – travelers accumulated an estimated value of $48 billion in loyalty points last year, while companies spent around $2 billion in actual cash. And yet, according to the CMO Council, only 13% of marketers believe their program has been “highly effective.”
Marketing in the mobile space is clearly the hot topic as we finish out 2012, as evidenced by the CMO Council’s “Engage At Every Stage” study on mobile relationship marketing (MRM), as well as this month’s Mobile Marketing Association’s SM2 event and The Smarties Awards, held at Advertising Week, in New York City.
Only 16 percent of marketers out of 250 global marketers surveyed have developed a mobile strategy aimed at building customer engagement, according to a new report from the Chief Marketing Officer Council.
One of our readers here at IMA recently posed a great question in the blog comments: how do I localize my social media presence? Is it possible to focus my brand’s social media stalkingand interactions on a specific, targeted area? It’s a fantastic question that has a lot of relevance for many small businesses that don’t have an international market or plans to expand in the near future. For your average local auto shop or specialty catering company, followers from another country can offer the benefit of a bigger following and engagement. However, they’re not likely to ever make a purchase. Perhaps most interesting, it’s not just local businesses that should think about targeting. Focusing heavily on key geographic areas can actually be an effective marketing maneuver for national brands.
The Chief Marketing Officer (CMO) Council's "Engage at Every Stage" study focuses on how companies are using mobile relationship marketing (MRM) to add value to their overall brand experience by putting interactions in the hands of tech-savvy consumers. The survey, fielded in cooperation with the Mobile Marketing Association and sponsored by Pandora® and FUN™ Mobility, polled a total of 269 global marketers.
Few major advertisers believe they are "very advanced" when it comes to leveraging the opportunities provided by mobile devices to engage consumers, a study has argued. The CMO Council, the trade body, polled 250 global marketers, just 8% of which agreed their firm already had "very advanced" capabilities with regard to this channel.
An initiative to explore where and how Mobile Relationship Marketing (MRM) is being embraced across multiple industries to ensure continuous customer touch and interaction, sustained support and service, closer and more dependent connectivity, as well as greater insight and intimacy. Detailed in this full report are best practices of early winners in mobile and executive perspectives from big-name brands including Anheuser-Busch InBev, Caesars Entertainment, Coca-Cola Company, JP Morgan Chase, Nascar, and Sony Entertainment Television.
Nearly half (47%) of major brands are dissatisfied with the progress of their mobile marketing efforts because of a lack of resources and talent to develop and execute mobile engagements, according to a new study by the CMO Council.
Only 14% of marketers are satisfied with the progress they are making accessing and leveraging the mobile channel, according to a new study by the Chief Marketing Officer Council.
What's one reason the year of the mobile ad always seems to get pushed out to next year? Marketers aren’t sure how to measure their impact. Measure only clicks on the buy button, without tracking how mobile ads lead customers to physical stores as they surely do, and it doesn’t look like many mobile ads pencil out as well as Web ads. It’s no wonder that a new survey out this morning by the Chief Marketing Officer Council shows only 14% of CMOs are satisfied with their mobile efforts, and 43% definitely aren’t.
The CMO Council reports, in a new study, that companies may be getting better at figuring out how to make mobile interaction work for their brands but marketers aren't happy with the pace of mobile relationship marketing (MRM).
New CMO Council Study Explores Global Brand Uptake of Mobile Relationship Marketing; Brand Interaction Now in the Hands of More Savvy and Socially Connected Consumers.
One reason the year of the mobile ad always seems to get pushed out to next year? Marketers aren’t sure how to measure their impact. Measure only clicks on the buy button, without tracking how mobile ads lead customers to physical stores as they surely do, and it doesn’t look like many mobile ads pencil out as well as Web ads. It’s no wonder that a new survey out this morning by the Chief Marketing Officer Council shows only 14% of CMOs are satisfied with their mobile efforts, and 43% definitely aren’t.
Over the past few years, I’ve connected with dozens of CMOs via peer groups, such as The CMO Council, The CMO Club and Forrester’s CMO Group, and everyone I talk to is striving to become more “2.0.” So what does it really mean to be CMO 2.0?
Donovan Neale-May is the president of marketing service company GlobalFluency, the founder and executive director of the Chief Marketing Officer (CMO) Council (a global affinity network of over 6,000 senior marketing and branding executives), a member of Rhodes University's Board of Governors, and a South African.