The Chief Marketing Officer Council survey of 550 international marketing officers found that fewer than one in five corporations believe they have an effective digital marketing strategy. According to the results, 50 percent of corporations plan to focus on the expansion of digital marketing in 2013 to address a general lack of innovation.
However, an article from Direct Marketing News reported that the marketing shift to digital platforms poses the biggest challenge for CMOs in regard to controlling and integrating customer service, sales, and product development into new marketing strategies and campaigns. Liz Miller, VP of the CMO Council Miller, claims corporations are relying heavily on big data and web analytics to translate branding and advertising into business and to integrate all areas of CMO focus.
Miller said, “It’s a directive from the top. The CEO is saying to the CMO, ‘Listen, customer preference is controlling the switch, so come to me with accurate measurement, give me visibility into the marketing spend.’” In order to do so, 50 percent of respondents reported a plan for hiring new talent who are “hyper-creative” and “hyper-nerdy,” i.e., employees who understand budgets and reporting, but can also think innovatively about an engaging digital marketing strategy.
The expansion of digital marketing will reportedly be made possible through an increased 2013 budget; 54 percent of marketers expect an increased budget with hopes of a recovering economy. Expected budget increases would allow more time, energy, and money to be allocated to integrating an effective digital strategy.
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