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New Research From the CMO Council Highlights How Leading Brands Are Learning From Big Digital Marketplaces and Adapting to a New 4P Model of Marketing That Is Based On Precision, Personalization, Persuasion and Perfection to Multiply Purchase. Leaders have followers, and nowhere is that more evident than the global eCommerce market, where giant digital shopping destinations like eBay, Amazon and Alibaba now account for more than 50 percent of the nearly $500 billion spent by North American consumers online.

Leaders have followers, and nowhere is that more evident than the global e-commerce market, where giant digital shopping destinations like eBay, Amazon and Alibaba now account for more than 50% of the nearly $500 billion spent by North American consumers online.New research by the Chief Marketing Officer (CMO) Council – entitled 'Ingenuity in the Global eCommerce Community' – explores how the massive scale, data quality and customisation capability of online marketplaces are bringing new levels of customer insight, enriched experiences and added value to brands. Digital commerce accounts for about 10% of the $5 trillion in total annual sales across all retail channels.

New Research From the CMO Council Highlights How Leading Brands Are Learning From Big Digital Marketplaces and Adapting to a New 4P Model of Marketing That Is Based on Precision, Personalization, Persuasion and Perfection to Multiply Purchase.New research by the Chief Marketing Officer (CMO) Council—entitled "Ingenuity in the Global eCommerce Community"—explores how the massive scale, data quality and customization capability of online marketplaces are bringing new levels of customer insight, enriched experiences and added value to brands. Digital commerce accounts for about 10 percent of the $5 trillion in total annual sales across all retail channels.

According to a report by the CMO Council released on Monday, seeing which way the wind is blowing in the dawn of the digital retail age is just one of a number of hurdles marketers have to face. Fifty-six percent of respondents in the CMO Council’s report titled “Ingenuity in the Global eCommerce Community” said that eCommerce is revolutionizing and reinventing the global retail marketplace and 43 percent say it challenges brands to evolve across all channels and markets. While views on eCommerce were positive overall, 14 percent said that it complicates relationships with traditional retail partners.

The explosion of online marketplaces run by Alibaba, Amazon and eBay has given brands opportunities to reach new consumers and test ideas, but brand marketers worry about potential consequences of the new retail model. According to a Q2 2018 survey by the CMO Council, a majority of brand marketers worldwide (56%) think retail is being reinvented by marketplaces. Many also agreed that marketplaces are forcing brands to rethink every aspect of how they go to market. A change this disruptive naturally causes concerns. No. 1 by far is the potential for conflict and cannibalization of traditional retail channels (50%). Less worrisome—but still important—are concerns about counterfeit product sales (32%), and privacy and protection of customer data (32%).

A new report conducted by the CMO Council and Sendwithus has shone a light on the deficiencies under which many marketers still labour when attempting to maximise their revenues, with 77% admitting that they weren’t fully realising the revenue potential of customers (a further 10% weren’t even sure how to answer). This compares badly to the 76% who admitted the same deficiency in a similar poll 10 years ago leading the CMO Council to declare the industry to be mired in a ‘decade-long rut’.

No wonder chief marketing officers have such stressful lives. Over three-fourths of all brands are failing to realize the full revenue potential of their existing customers, and little more than a tenth are succeeding at it, according to Gaining Traction With Every Digital interaction, a paper by the CMO Council and Sendwithus. Of the executives polled, for example, 36% believe transactional emails are an opportunity to reinforce relationships. But 30% deploy them only to affirm choices, not to further relationships. And 12% are struggling to align the teams that work on them.

Joint Study by the CMO Council and Sendwithus Reveals Marketers Are Spending More Time in Meetings About Collaboration Than Growing Relationships With Customers Looking to More Deeply Engage With Brands. Despite a mandate to drive growth, chief marketers are still stuck in a decade-long rut that has yet to see them fully optimize the lifetime value of existing customers. In 2008, when asked if brands were fully realizing the revenue potential of customers, 76 percent said no. Ten years later, 77 percent of respondents to the same question in a new Chief Marketing Officer (CMO) Council audit still say no, and 10 percent say they are not even sure.

A new report conducted by the CMO Council and Sendwithus has shone a light on the deficiencies under which many marketers still labour when attempting to maximise their revenues, with 77% admitting that they weren’t fully realising the revenue potential of customers (a further 10% weren’t even sure how to answer). This compares badly to the 76% who admitted the same deficiency in a similar poll 10 years ago leading the CMO Council to declare the industry to be mired in a ‘decade-long rut’.

A joint study by the CMO Council and Sendwithus reveals that marketers are still struggling to connect consumers with brands as three-quarters of CMOs do not believe they are fully realizing the revenue potential of their brands. However, his is not a new problem, as marketers have been looking to connect consumers to the brand for more than a decade. In 2008, 76% of CMOs said they were not fully realizing the revenue potential of customers, and in this year's report, 77% of CMOs had the same response to the question. According to the report, just 36% of respondents are leveraging transactional emails as an opportunity to build a relationship. The 30% of CMOs that said they are engaging through triggered emails said the relationship is to acknowledge a past transaction, yet 94% of respondents believe communications is critical to a good customer experience. 

Despite a mandate to drive growth, chief marketers are still stuck in a decade-long rut that has yet to see them fully optimize the lifetime value of existing customers. In 2008, when asked if brands were fully realizing the revenue potential of customers, 76 percent said no. Ten years later, 77 percent of respondents to the same question in a new Chief Marketing Officer (CMO) Council audit still say no, and 10 percent say they are not even sure.

A new report conducted by the CMO Council and Sendwithus has shone a light on the deficiencies under which many marketers still labour when attempting to maximise their revenues, with 77% admitting that they weren’t fully realising the revenue potential of customers (a further 10% weren’t even sure how to answer). This compares badly to the 76% who admitted the same deficiency in a similar poll 10 years ago leading the CMO Council to declare the industry to be mired in a ‘decade-long rut’. A mere 36% of respondents leverage transactional emails in this way while 30% engage through triggered emails only to acknowledge a past transaction, not to foster a more meaningful relationship with the customer.

A joint study by the CMO Council and Sendwithus reveals marketers are spending more time in meetings about collaboration than growing relationships with customers looking to engage more deeply with brands. The new report, titled Gaining Traction With Every Digital Interaction, reveals that collaboration around the channels of choice for the customer is critical to turning an automated touchpoint into a revenue-producing opportunity. Despite a mandate to drive growth, chief marketers are still stuck in a decade-long rut that has yet to see them fully optimise the lifetime value of existing customers. In 2008, when asked if brands were fully realising the revenue potential of customers, 76% said no. Ten years later, 77% of respondents still say no, and 10% say they are not even sure.

That is according to a new Chief Marketing Officer Council audit, which surveyed 179 senior marketing leaders, 43% of which represented organisations with revenues of at least $500m (£369m). Only 13% of respondents said they were realising the revenue potential of existing consumers, while 10% were not sure. When the CMO Council asked the same question in 2008, 76% of respondents said they were not realising the revenue potential of consumers. The Council’s report, Gaining traction with every digital interaction, revealed a significant touchpoints in which many brands seem to be missing out: transactional emails. Just over a third (34%) of respondents said these were not being used to build relationships and drive revenue because they are created outside of marketing.

After a decade, marketers still have a difficult time funneling customer engagement into revenue, the CMO Council and Sendwithus reported Tuesday. In 2008, the CMO Council asked brands if they were fully realizing the revenue potential of customers, to which 76 percent said no. The question was posed again in a March study but 77 percent of marketers still said no and 10 percent say they are not even sure. The new report, Gaining Traction With Every Digital Interaction, found that marketers aren’t confident in using digital communication to drive revenue. In fact, only 47 percent feel they are only “doing okay” in their digital communication efforts.

Chief marketers call for more digital platform transparency: News coverage about inaccurate, questionable and false digital media reporting measures have caused 21% of marketers to reduce advertising spend. More than 70% of brand leaders admit negative news headlines have had an impact on budgets. Another 95% of marketing leaders surveyed believe digital media must deliver more reliability. Marketers are also calling “viewability” standards into question as only 3% of respondents agree on the definition advocated by the Media Rating Council. This negative outlook of the digital media landscape comes as marketers intend to significantly boost investments in online video advertising—a channel that 28% of respondents believe is more important than other media investments and 40% say is growing of importance. In fact, 95% of marketers intend to increase investments in 2018, with nearly half increasing spend by up to 25%.

Solutions like Kantar Analytics Practice also arise form a demand for more transparency in digital marketing and data. A recent CMO Council survey found that 73% of marketers want more transparency into traffic, viewers and engagement, and 45% want real-time access to customer data and intelligence. Having the ability to discover deeper insights about consumers can help brands create more personalized content and experiences.

"Marketers want to get going on connecting systems and busting silos to put the customer’s expectations above the drama being caused by fragmented tools that fail to deliver results for the business," says The CMO Council's Liz Miller.  Aside from the perennial question about turning “Big Data” into actionable, “Smart Data,” the other big issue pressing down on CMOs is organizing the myriad — and often walled-off — marketing touchpoints that influence consumers’ brand choices. A survey by the The CMO Council, The State of Engagement: Bridging the Customer Journey Across Every Last Mile, finds that businesses will measure the success of customer experience initiatives on bottom-line improvements like overall revenue growth and increases in individual sales.

Chief marketing officers who are struggling to keep up with new digitally driven ways to engage, satisfy and enrich the experience of more mobile, savvy and fickle consumers believe their jobs are at risk. This is according to a new study from the chief marketing officer (CMO) Council, in partnership with RedPoint Global. Moreover, nearly half of marketing respondents believe it is possible that their jobs will be at risk should technology investments fail, even though there are other factors that have a direct impact on the role.

A new report says 95 percent of marketing leaders believe digital media must become more reliable and that 21 percent plan to reduce their spending this year because of inaccurate, questionable, or false digital media reporting. The report, “Engage at Every Stage: An Investigation of Video Activation,” from the CMO Council says marketers have also increased their scrutiny of platforms like Google and Facebook. Marketers also questioned viewability standards, with just 3 percent agreeing on the Media Rating Council’s (MRC) definition of 50 percent of content playing for two consecutive seconds with the sound off.