Friday, August 18, 2006
CMOs weigh in about the Web
byHow will Marketing Departments use the Web to create growth and profitability? A 2006 WebTrends CMO Report (free download with registration) suggests that while CMOs “get it” that the Web is the hub (or will be the hub) of their marketing strategies, those surveyed admit that they don’t fully know the latest in interactive marketing trends, strategies and technologies—this at a time when a majority of the CMOs plan to increase Web marketing budgets.
As reported in the survey, more than half (56%) of the executives surveyed said the Web is the marketing hub or soon will be, yet they rated their themselves and their staffs as mid-range (average weighting of 6.3% and 5.5%, respectively) on a scale ranking their knowledge of the latest in Web marketing strategies. Only four percent of CMO’s rated themselves and their staff as experts.
Moreover, a majority (84%) of CMOs rated their organizations’ ability to measure Web marketing performance as having room for improvement, weak or non-existent. Only 15% of them acknowledged that measuring Web results is a core strength of their team.
But the executives, knowing that they plan to increase Web marketing expenditures, agree that they have a lot to learn and are taking steps to address this gap: the majority of those surveyed said their companies are investing in training and metrics to increase accountability and drive an ROI mindset.
The report concludes that: “Performance metrics for online campaigns will let [CMOs] run their marketing with confidence. The measurability of the web lets every member of a marketing team instantly understand the cause and effect of their marketing programs.”
