CMO owns the growth agenda
While experimentation remains critical for innovating and spotting opportunities, 2013 will be about delivering and demonstrating value for CMOs.
- January 2013
- Jonathan Gordon
In 2013, marketers emerge as the rightful owners of the corporate growth agenda. To make it happen, marketers need to harness analytics to measure performance and guide decisions that drive real growth. Armed with big data and advanced analytics on all their spending — from TV to digital to sponsorship — marketers are in position to show the CEO or CFO how much value marketing is able to deliver. Our experience shows that improved analytics results in an average savings of 10-20 percent. Applied to a global marketing spend of $1 trillion, and we’re talking $100-$200 billion in global reinvestment potential.
Last year was about experimenting, but in 2013 marketers will be under enormous pressures to move beyond that to demonstrate the worth of their spend. Marketers will need to answer tough questions about the value of a “fan” or “follower,” which they can do by making thoughtful use of analytics such as social GRP, for example. While experimentation remains critical for innovating and spotting opportunities, 2013 will be about implementing much more systematic test-and-learn programs that require actively evaluating experiments, doubling down on successes, and learning from then jettisoning failures. Marketers will need to develop a test and learn program that functions like a conveyor belt so they can systematically innovate to find those winners that will deliver growth.
Submit a comment
Comments chosen to be published may be edited for length and clarity and will appear along with your name and details, but not your e-mail address. We will use your e-mail address only to send you a confirmation copy of your comments and to notify you if we publish them online. We value your feedback and will consider it carefully. Nonetheless, we receive so many comments that we cannot acknowledge all of them.