How CMOs Are Using Data To Build Their 2015 Budgets
By Peter Tait, VP of Marketing, Radius
CMOs are busy tinkering with their marketing budgets. With this comes the responsibility of choosing from countless technologies promising to improve efficiency, ROI, and conversions. How can marketers leverage data to inform financial decisions?
According to Gartner analyst Laura McLellan, the top three challenges marketers face are growing profitable revenue, connecting more effectively with customers, and standing out amidst serious competition. What amount should CEOs be doling out to overcome these hurdles?
- Written by Brian Anderson
- Category: Demanding Views
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News flash everybody. Inbound marketing is so old school. Some claim even back to the 11th century BC. I was being generous in my headline.
Once upon a time, a salesperson would knock on a door, shake some hands, and look his prospect right in the eye. Sales were all about building real, lasting relationships. Today, relationships matter more than ever. Friends do still buy from friends, but they do it online, not at the corner store. Social media may be “social,” but gone are the days of sitting over a cup of coffee for an hour with a prospect.
When big brands successfully launch themselves in social media and begin the shift toward being more customer-centric, they almost immediately find themselves facing two daunting challenges. First, if the relationships developed through social are going to be meaningful, marketing needs to be able to collaborate with other functions of the organization so that customer ideas and issues translate directly into improved products and services.