New research indicates that CMOs have their own specific views on what pays off for their marketing teams in terms of strategy. In “The CMO Shift to Gaining Business Lift” report from the CMO Council and Deloitte, CMOs shared their thoughts on where their teams perform best and how they can improve.
About 44 percent of CMOs said that utilizing data for effective campaign spend is a top method marketers can use to drive revenue and improve margin. The same percentage stated that utilizing new digital advertising and engagement technology could become a critical tactic.
Approximately 33 percent of CMOs said that increasing brand value through intrusive and creative ads could be an effective method, while 30 percent believe it’s essential for marketers to rethink and innovate go-to-market strategies.
When the CMOs were asked which digital marketing tactics give them the best ability to generate revenue, nearly half pointed to website design, interaction, and conversion (46 percent).
Critical Tactics to Marketing Team Success
Rather than looking ahead to the use of new tactics, a report published in April 2016 highlighted methods that were already critical to marketing teams in the eyes of CMOs.
The “2016 CMO Summit Survey” published by Spencer Stuart found that 62 percent of CMOs believed digital marketing skills, such as social media, were essential to their team’s success.
Data analytics (49 percent), strategic thinking (48 percent), and brand marketing (28 percent) were also viewed as important by CMOs.
However, 33 percent said that small budgets were preventing them from making their marketing teams stronger. About 71 percent said they were planning to move from marketing to a more general management role.