ROI Insight From Measuring Marketing
“Everyone thinks they’re marketing experts.” So many CMOs and senior Marketing professionals I’ve been talking to lately lament their ability to get things done because the executive team relegates marketing to pretty websites and brochures. Can you believe it? In this day and age!
For instance, a professional services firm hired their first-ever CMO with no clear expectations. Marketing was thought of as collateral, well-attended events and all the fluff stuff that marketers do. Expectations could not be met in such an environment. In this case the CEO weighed in tactical details like colors, copy, and event entertainment – but brushed off marketing issues like budget as a percentage of revenue, building social perceptions of expertise among influencers, anticipating the markets’ product needs, and improving lead-to-sale processes.
That company isn’t the only one. Many CMOs fail within their first couple of years because their time is spent focused on delivering collateral and producing work for separate business units that has no quantifiable impact on leads or sales. What does it take? A corporate-level strategy aligned with business goals, specific success metrics, and ROI proof.
Be sure to get the full case study with high resolution chart here (coming soon).