Has there always been a secret (or maybe not so secret) assumption that CMOs aren’t suited for the CEO role? Think about, I can name COOs, CTOs, and CFOs who have all gone on to become CEO but not too many CMOs in recent years.
Maybe that’s because there wasn’t much proof as to what marketers did? And then came the assumption that people who could make great products could also become great CEOs. Think about Facebook, Square, Paypal, Apple, and Twitter. The creators of these products and technology often rewarded themselves with the CEO title and that is kind of what we got used to. But a transition is once again underway. Where businesses are realizing the importance of marketing, how essential is to sales and that maybe in order to have a great product you have to know the people who are going to buy it.Continue reading “CMOs Make The Best CEOs”
If I were to sum up the life of a marketer I would say their goal on a daily basis is to
MINIMIZE THE COST OF FAILURE
From figuring out who your audience is, what your audience wants, how to reach them, and most importantly how to get them to make a purchase. Oh yeah and in as little time for as little money as possible.
And don’t forget to provide reporting detailing those results, with data and analytics, in a language everyone can understand.
Gulp. No problem.
Cue minor panic attack/nervous breakdown/ and never sleeping again.
What doesn’t my CMO want from me?! But maybe the reason they are expecting the best from you is because they are constantly going to battle for you.
So before you feel too defeated let us help you understand the importance of providing these insights to your CMO through reporting.
2016 was a big year for agencies! From agency and big brand shake-ups and break-ups, to the constant evolution of the industry (thanks to the introduction of new technology), to figuring how to get your clients’ messages across in more ways than ever before- 2016 was the year that would just not stop.
And as the holidays approach, maybe clients go quiet for a bit, you will finally have time to come up for air, take a deep breathe and find a second to evaluate the damages and celebrate the fact that you survived! You might be a tad bruised and battered but 2016 didn’t knock you over.
With a new year only a month and a half away (WHAT) it has us thinking about routines, processes, goals and all the what ifs that have come and gone this year. We thought this would be the perfect time to refresh our memory, as well as yours, on what we should be doing every day as marketers.
The good marketers start with research and gather great data that supports their message. The best know it’s what they do with it from there that matters the most.
When you have the right marketing analytics tool that visualizes data you are able to give data meaning, make data flexible and integrate it with other data systems. That data could be from social, digital or offline channels and sources could include customer satisfaction surveys, TV ratings, Facebook Insights, product reviews, Google Analytics and much much more.
The marketing technology landscape has exploded. Just take a look at Scott Brinker’s supergraphic where he lists nearly 4,000 companies providing some sort of marketing technology solution in 2016.
Being in the space ourselves (you can find Converge under Dashboards & Data Visualizations in the blue column) we understand there are a lot of options depending on what problems you are trying to solve. But what we have also realized is that so much of this marketing technology is now only focused on social analytics.
The topic of metrics comes up a lot.… But that’s not a huge surprise, as modern marketers continue to be concerned with finding the right metrics to prove their success and justify their actions.
However, implementing data gathering and reporting as just another tactic to tag onto your marketing proposal or quarterly goals is not a good idea. Tactics without a clear set of objectives and disciplined strategy are just random activities. There will be no meaning, understanding or action from the time spent tracking and reporting on metrics unless there is a clear plan in place on how and why you are investing in this.
The words data and marketing practically go together like peanut butter and jelly. Data is central to the marketing world and in many ways, has altered it. From how brands choose leadership, marketing channels, campaigns, technology and close sales-data influences just about everything.
However, data is still a challenge for marketers. Now with so much information available it can almost be paralyzing, making you feel like you don’t know where to start, let alone what to do with it. According to published research from the DMA, only one-third of marketers felt they had a good grasp of dealing with data.
What is a dashboard? According to this CMO. article a dashboard is described as a graphical summary of various pieces of important information, typically used to give an overview of a business. So why do CMOs need one? Because CMOs are concerned with tight budgets and the lack of a clear marketing strategy that could affect their company’s ability to compete in ever-changing markets. Because CMOs have to answer to many stakeholders about the status of all their projects. Because CMOs needs to have the latest information readily available to make informed decisions quickly. Continue reading “Why CMOs Love Marketing Dashboards”