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Survey Results Posted for CMO Council's "Renovate to Innovate"
This past summer, SMPS teamed up with the CMO Council and other organizations to field a survey that explored the satisfaction levels, new realities and requirements, and best practices for implementation of a Performance-Driven Marketing model. The final report is now available for review.
To view the entire report as well as a customized report for the A/E/C industry, please visit www.smps.org/about/renovatefinalreport.pdf and www.smps.org/about/renovateSMPSreport.pdf.
The goal of the survey is to help marketers examine their own effectiveness and benchmark their efforts against those of other firms and industries. The priorities and ground rules for marketing leaders have clearly changed in the recent past as CEOs and board members demand greater accountability, performance analytics, and tangible evidence of business value from their marketing organizations. The survey sought to focus on the internal transformations, reskilling, and realignments needed to meet upper-management demands to further the value, yield, and accountability of marketing groups.
Here are some of the study's key findings.
- Marketers could use more influence, credibility, and respect from other parts of the business.
- A significant sample said that their marketing organization’s alignment with the company mission is off.
- Many marketers rated their marketing organization’s performance poorly.
- Disruptions from other functional groups or senior management often disrupt marketers and take them off point.
- The most urgent areas for development and improvement are bettering marketing analytics, customer relations management, and marketing performance measurement.
- Revenue growth and market share were cited as the best measurements of marketing performance.
Included in the report is a Performance-Driven Marketing model that highlights the critical functions marketers must master. Also included is a blueprint for marketing transformation called “Creating a Performance-Driven Marketing Organization,” designed by the survey underwriter MarketBridge.
The "Renovate to Innovate" survey was launched in July and remained active through November 2005. It yielded responses from more than 400 marketing executives with a variety of titles across a range of industries. Additionally, a parallel survey was fielded to almost 450 CEOs in these same industries to better understand their perceptions of their own marketing groups.
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