CMO

Hey CMOs, It’s Time To Get Disruptive

Many moons ago I wrote an article entitled simply Are You Disruptive? In that piece I openly questioned if marketers or business owners, brands, etc., were in fact, disruptive. As I wrote then which is still very true today. I myself am “disruptive” by nature, disruptive not in the breaking mom’s china manner, but rather questioning the accepted norms. Or as Howard Jones would put it, “challenging preconceived ideas.”

I was reminded of my earlier piece while reading something from Forrester Analyst Corinne Munchbach. In a blog post she used the term “Embrace digital disruption.” Now she was using it in the context of something CMOs need to do in 2013 and she was in fact referring specifically to B2C CMOs but I absolutely believe it applies to ALL CMOs – B2C and B2B CMOs alike.

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When It Comes To Mobile Marketing, Integration Is Key

As a long-standing proponent of marketing integration I can speak to the fact that many marketers still have difficulty in putting it into practical use, including many chief marketing officers which was the basis of my piece aptly titled The Eleven Letter Word That Continues To Elude All CMOs And Marketers.

Based on recent research it would appear many in the mobile marketing space would be wise to integrate their marketing messages, especially this holiday season and in particular across two specific mediums.

The research comes from Responsys, AKA the company I work for, and reveals some very interesting and intriguing findings and shows a clear correlation and opportunity for mobile marketing folks.

According to the research almost 40% of consumers who previously opted in to receiving promotional emails from a retail marketer are also interested in getting promotional messages from these same retailers via SMS or text messaging. The findings alone would be significant but when you factor in that this past Cyber Monday saw an increase of 96% in mobile sales year-over-year from 2011 according to IBM, plus mix in the the fact that the percentage of emails being read on a mobile device are growing steadily literally as we speak – 

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Does Big Data Kill Big Thinking?

Big Data is a popular term today that references the huge volumes of business and consumer data being collected and stored by organizations, which cannot be effectively data mined due to the limitations of commonly used software tools that capture, manage, or process the data.

While first diagnosed in the science, government, healthcare and military industries, the vast volumes of consumer data being produced through social technologies has landed this reality – and this problem – on the desks of CMOs globally.

Not only is data being produced at lighting speeds, the devices used to produce, broadcast, measure, store and share that data are on the rise, which then fuels further content generation. The cycle is creating a Big Data cyclone that organizations will continue to struggle with.

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Disruptive Technology and How to Compete for the Future

Disruptive technology is the bearer of tremendous opportunity and equally a harbinger of obsolescence. Technology’s impact on society and business is substantial, if not underestimated. As technology continues to become part of everyday life, it becomes disruptive in how people communicate, work, and connect. The evolution of society and technology happens with or without adaptation or understanding. And, it’s contributing to a very real phenomenon of Digital Darwinism, a situation where organizations are faced with a need to adapt to markets and customer behavior or risk a loss in favor, competitive advantage or worse, irrelevance.

To keep up is a perpetual investment as innovation is constant and it’s only increasing. We are becoming a culture rife with ingenuity. Entrepreneurialism is contagious. The startup way, or the “hacker life” is introducing new mindsets and models and it inspiring all who taste it to code, design, build, invest, and take risks. Even President Obama is calling for attention and support for startups to revive America’s fragile economy. And this is just the beginning. Innovation is a global movement and it’s gaining momentum.

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CMOs Struggling To Keep Up With The Digital Revolution

In a wide-ranging survey of more than 1,700 chief marketing officers from 64 countries and 19 industries, IBM’s 2011 Global CMO Study revealed that a large portion of CMOs, while excited at all the changes happening in the marketplace – are ill-equipped to deal with and manage it. 

Back in July I shared with you the results of the State of Marketing Report from the Chief Marketing Officer (CMO) Council which revealed that “Social Media And Integration is Chief Among Marketers’ Priorities.” Then in September it was the results of a study conducted by Duke University’s Fuqua School of Business that showed that “CMO’s To Increase Spending On Social Media But Integration Still Lacking.”

And today I want to share some of the results of the aforementioned IBM 2011 Global CMO Study which revealed four (4) key challenges that CMOs feel unprepared to manage:

  1. The explosion of data. It goes without saying we are ALL swimming in a sea of data. It’s all around us and the key will be not only managing all of it but measuring it and gleaning



    the right information from it. Yes the operative word is “right.” One CMO survey put it very bluntly “At this moment, I don’t know how our marketing department will cope with the expected data explosion.”

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73% of CEOs Think Marketers Are Not Effectiveness-focused

I read a fascinating global study on what CEOs think of Marketers, by the Fournaise Marketing Group. Some of the interesting findings for me are:

  • They keep on talking about brand, brand values, brand equity and other similar parameters that their top management has great difficulties linking back to results that really matter: revenue, sales, EBIT or even market valuation (77%)
  • They focus too much on the latest marketing trends such as social media, because they believe they represent the new marketing frontiers – but can rarely demonstrate how these trends will help them generate more business for the company (74%)
  • They are always asking for more money, but can rarely explain how much incremental business this money will generate (72%)
  • They bombard their stakeholders with marketing data that hardly relate to or mean anything for the company’s P&L (70%)




The average tenure of a CMO is still less than two years. largely because of the issues identified above.

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Being ‘More Connected’ – Key Step in Owning a Seat at the Revenue Table

In my continuing series of blog posts on gaining that proverbial “seat” at the senior management table, I have discussed the importance of being more agile and social in marketing, and throughout the entire revenue process. In this week’s post, I focus on the importance of being increasingly more “connected” in all of your marketing, sales, and revenue-oriented activities.

Of course, a sure fire way to strengthen connectivity – as well as enhance both agility and social media engagement – is adopting Revenue Performance Management (RPM). At its core, RPM is all about driving integration between the corporate functions that are so crucial to generating more revenue, but which too often operate as disconnected silos.

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CMO’s To Increase Spending On Social Media But Integration Still Lacking

A survey of nearly 250 marketing top marketing executives revealed an overall increase of spending of 9.1% over the next 12 months but… the survey also revealed that integration is still a long way off.

Conducted by Duke University’s Fuqua School of Business, the twice a year survey “collects and disseminates the opinions of top marketers in order to predict the future of markets, track marketing excellence, and improve the value of marketing in firms and society.”

And just as I did with the Trends In Social Advertising Survey by Brian Solis and The Pivot Conference, I am once again… going behind the numbers. My natural curiosity must come from watching all those mystery and copy shows growing up… is there such a thing as too much Columbo?

Nah…

Anyway, while I am happy to report that overall marketing spending is expected to increase over 9% over the next 12 months as per the survey findings – there are some intriguing, if not disconcerting, additional findings form the survey I want to bring to your attention.

The first one has to do with the overall spending increase itself. Look at the chart below…

Now, you’ll see the aforementioned 9.1% increase but look at the trend from the February to August for each of 2010 and 2011. I realize it’s only two years we’re talking about but why the up and down from February to August each year? When the CMOs were asked in February about spending were they coming off poor holiday, end-of-year numbers and thus indicated via the survey they don’t plan on spending as much as they indicated a few months later in August?

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CMO Council to Publish Peer-Powered Journal for Print and Digital Media

The Chief Marketing Officer (CMO) Council, a global executive affinity group controlling more than $200 billion in annual marketing spend worldwide, has announced a multi-channel, multi-format publishing initiative that will deliver an in-depth and engaging peer-driven quarterly print journal and digital formats for web, mobile, tablets, like the iPad, and mail delivery to members and subscribers worldwide. The first edition of PeerSphere, the official journal of the CMO Council, will be launched in the fourth quarter of 2011.

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The Four Hats of The Social CMO Webinar

Join us for The Four Hats of The Social CMO webinar for a unique look at four roles emerging marketing leaders can embrace as they evolve to become Social CMOs!

As with any new disruptive technology, social networking usage in enterprise business is still in its’ infancy with marketers in a preferred position to gain advantage. CMO’s can benefit from being first movers in introducing and adopting social networking technologies to become social leaders within their organizations.

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