ROI
Posts on the topic of ROI
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There is a clear message in a new study from the CMO Council: Chief Marketing Officers (CMOs) need to change with the times, and define a new role for their position or their tenures will be short at best. The study, titled “Define & Align the CMO,” polled 1500 CMOs, CEOs, and other key executives to determine how the CMO function can better serve a company’s critical strategic marketing needs. An executive summary PDF can be found here. The study noted CMOs are leaving or being replaced at a high rate because they often lack the skills and credibility necessary to operate effectively in an increasingly technology sophisticated marketing environment.
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Marketing has always been part art and part science, but according to studies highlighted this week in an Advertising Age article, marketing is increasingly tipping to the science side of the scale. According to the article’s authors, “today marketing is 70% math, 30% creative.” Furthermore, the article states, “In today’s multichannel world, it’s virtually impossible to run an effective campaign or build a strong brand across diverse customer touch points without serious analytical efforts.”
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Search Engine Optimization (SEO) is an area where many mid- to large-size companies can literally be leaving millions on the table. SEO is often referred to as organic search. It refers to the unpaid, algorithmic process used by search engine companies to assess your website and determine where your company will show up in the “natural” rankings when a customer, consumer or prospect enters a relevant search term. SEO also refers to the methodologies used to measure, improve and integrate those rankings into a viable marketing system.
This natural search ranking can have a profound effect on a company’s volume of business. There are over 6 billion searches per month on major search engines. These search engines have become a primary way for many people to find and compare high-involvement products and services. As a result of this search process, they often either buy online or determine where they will make a purchase through the best brick-and-mortar location in their area. According to ROI Research, online search affects 49 percent of major online purchases and 42 percent of major offline retail purchases.
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What’s the number one challenge for marketers in this digital age? The answer, according to Michael Fassnacht, who writes for CMO Strategy in Advertising Age, is turning consumer data into actionable marketing insights up and down the organization, something he refers to as the “democratization of data.”
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ClickZ Expert Shane Atchison provides a virtual Cliffs Notes version of Web analytics for busy Chief Marketing Officers by highlighting five things they need to know:
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