Source: CMO Index 13 report
We have asked the professor from CBS, Thomas Ritter, comment and
speculate on the conclusions of CMO Index 13. Read, among other
things, what he thinks about the increased focus on 1:1 -dialogue
and get his best advice for the marketing executives in 2013.
Almost half of marketing respondents consider that Big Data will
change the way the company markets itself. Are CMOs and marketing
departments ready for the challenge? Where to "re-arm", eg upgrade
-Despite of the many possibilities with BigData it's some
pitfalls that CMOs must address, before the potential of Big Data
can be fully redeemed:
The insight from segmentation to be used to find indicators and
it's these indicators and customer allocation to the segments that
Big Data can contribute.
More than half of CMOs is describing the culture of their
marketing department is primarily communication oriented. How will
Big Data affect the culture of marketing departments? More figures
in everyday life?
- There is no relationship between culture and Big Data. If the
department is responsible for the communication, so it accounts for
it. But Big Data can support communication, so yes, more figures in
daily life is probably a realistic result of Big Data. Whether this
contributes to greater efficiency in marketing departments depends
on the quality of figures and incentives to use data in everyday
2 years ago ROMI was not on the agenda. Now it seems to
be one of the main objectives of marketing executives. Why this
rapid change, and do you see the trend continue?
- Yes, the trend will continue. Corporate managements are very
focused on being able to document everything - and this also
applies to marketing. There have been a big gap between
"accountability" and marketing, but it is being closed
now. Which pleases me to see.
There is an increasing focus on social media and apps. 2
out of 3 now measure the effect of their presence on social media.
Has social media "grown up"?
- We can say so; - social media is now taking a natural place in
many communication strategies. There are also created wider
experience with social media, so the effort has become more mature.
ROMI discussion has also taken off, so it is no longer about "just
to be there" In many cases, clear objectives for working with
social media is put forward.
DM/1:1 dialogue has more space in budgets this year, and
at the same time marketing managers think that it has a greater
impact than mass communication. Will this trend
- It's not a trend, but just a reality.1: 1 has a greater impact
than mass communication, but is still more expensive, so it's all
about optimization: How to find the strongest mix between the
different forms of communication? With which customers it makes
economic sense to communicate 1:1, and where is mass communication
Only 1 in 10 will be financially rewarded for
strengthening customer loyalty. Should marketing bonuses not be
directly linked to the development of customer
- Profit Salaries makes sense when the result is measurable, and
the employee has a direct influence on the result. But this is
rarely the case in marketing departments, especially when the
department is responsible for the communication tasks and not
directly related to sales or customer experiences. So 1 in 10
is not many, and I think it won't reach more than 3 out of 10.
What will be your single most important advice for
marketing executives to succeed optimally in the next 12
- Understand your role in the organization - what you are
responsible for? Understand the business objectives and define your
contribution. Understand how to communicate your contribution - how
to show what you're worth to the management. Overall, it is about
taking commercial responsibility and contribute to the commercial
development of the company.
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