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The MarTech Digest
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Some 35% of CEOs at large organizations believe that their marketing’s sales performance is exceeding expectations, while fewer CMOs (26%) agree, according to a Forbes Insights study [download page] conducted in association with Rocket Fuel and Spencer Stuart. The survey – conducted among 296 global senior executives, 80% of whom hail from companies with more than $1 billion in revenues – suggests that CEOs may simply have lower expectations of marketing, as many believe their investments are wasted. â–ş Receive a FREE daily summary of The Marketing Technology Alert â—„
Marteq's insight:
Comes down to one thing and one thing only: attribution. Get your attribution down, tied to business metrics. Only this will end the horrible cycle of disappointment. 
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The stats on CEOs who use social.
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Excerpt... >> Expect a 50-90% failure rate the first time you cold-email someone – i.e., no response. If you don’t get a reply, don’t worry – it’s hardly as bad as calling someone cold and having them hang up on you. >> It’s not hard to guess or find an email address. Email addresses are usually firstname.lastname@company.com or, if it’s an entrepreneur, firstname@company.com. You can always call the main phone number and say you’re trying to email something to the CEO, and they will usually give the address. >> You are politely persistent if you email once every two days, but probably should give up after 3 or 4 tries if there’s been no reply. >> For busy execs, the weekends are by far the best time to try to get a note to them since they typically have more time to read something on a computer screen, rather than a device. And a surprising number of executives do read all their email – especially the personal notes. (Schultz famously does, and imagine how many messages he must receive.) >> Keep your message short and to the point. Brevity increases the chances it will actually get read – and relevance increases the chances of a reply.
__________________ â–ş Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
Marteq's insight:
From first hand experience. Excellent guidance!
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Over the past few weeks, I’ve had the pleasure of moderating panel discussions on the importance of a strong working relationship between CMOs and CIOs at the Direct Marketing Association 2013 Strategic Summit and the Forbes CMO Summit. Digest... Regarding critical dimensions of people, process, and technology, CMOs and CIOs are still not seeing things equally: Teams are not focused on the right things. The two largest gaps between marketing and IT responses in this year’s survey were: 1) the lack of agreement on strategic priorities (a 20 percentage point gap) and 2) the absence of IT resources with marketing skills (a 30 percentage point gap). To close these gaps, CMOs and CIOs must ensure that their organizations are aligned, hire people who can handle the technical needs of engaging with customers, and measure them with common goals and metrics.
Process has improved, but timing still lags. Since our 2011 survey, agreement between marketing and IT on joint processes has improved by 11%. But marketing wants the tools delivered yesterday, and IT’s disciplined processes often slow implementation down to below what marketing can tolerate. To resolve this disconnect and avoid marketing going rogue, IT needs to step on the accelerator and find new ways to meet marketing time-to-market needs.
Technology to support marketing is more dream than reality. To thrive in the age of the customer, CMOs and CIOs must collectively turn their attention to defining a marketing technology strategy that supports the business and delivers the goods — the ability to create a single view of the customer that produces actionable insights and consistent customer experiences. Working together, CMOs and CIOs can advance their standing in CEOs’ eyes by delivering a joint solution to make better use of data and analytics in the business.
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Marteq's insight:
I've been scooping and writing about the conflict as well as the bridges between the CMO and the CIO. Where the hell is the CEO in all of this?
Lou Hemmer's curator insight,
April 8, 2014 11:06 AM
Great article about the need for CMOs and CIOs to work closely together.
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Digest... Sherilyn Shackell, the founder of the Marketing Academy in the U.K., believes that many CMOs are stymied when it comes to furthering their careers because they don’t appear to speak the same language as the board directors. We asked Shackell for some pointers. -- > Make a CEO your new best friend -- > Make the CFO your other new best friend -- > Know thyself: Shackell advises ambitious marketers to look very closely at their own personal development. -- > Go The Extra Mile On Book Learning: Marketers really need to bone up on areas that the board governs outside of the marketing function, such as corporate strategy, corporate finance, organizational development, operations, stakeholder management, decision-making and business law. -- > Look to the nonprofit sector for experience: Marketers should seek out board opportunities as a non-executive director or as a trustee. -- > Bonus Tip: Join The Right Company--One That Places A Premium On Brand: Companies that recognize that a large part of their market capitalization is tied up in that critical, often intangible thing called a brand are companies where marketing gurus have a better chance at the top job.
___________________________________ -Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected). -If you like this scoop from The Marketing Technology Alert (brought to you by iNeoMarketing), PLEASE share by using the links below.
Marteq's insight:
You inherently knew this, but now it's laid all out for you. Get cracking on the book learning: it won't go to waste.
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CEOs have come to recognize, more than ever, that disruptive technology poses the single biggest existential threat to the future of their businesses. Key excerpt... Much of the rest of IBM’s report examines specific technological changes and challenges, mostly revolving around the themes of better customer experiences served through digital and hybrid digital-physical channels. As IBM’s own CEO, Virginia Rometty, says in the introduction, “Today, digitally enfranchised and empowered customers lead the agenda for every CxO profession.”
For CMOs, I believe this presents a clear opportunity to step-up investment in customer experience technology. It isn’t just about how technology can implement more efficient or effective marketing. It’s looking at how technology — and the tech-savvy talent necessary to leverage it — can change the playing field more significantly. Companies should pursue innovative, technology-powered capabilities to continually achieve and renew McGrath’s transient competitive advantages.
The big takeaway from IBM’s report for me is that the CEO is more attune than ever to such opportunities. The CMO should rise to the occasion to champion that charge forward.
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Marteq's insight:
Brinker's article points to the notion that CMOs (and CIOs) look to market factors as a greater impact on the organization that technology vs. the CEOs view. But what caught my eye was the justification to spend resources on customer experience technologies, which is the first time I've noticed this outside of the industry analysts. It's important, but worthy only of investigation in 2014 for the less than monolithic organization.
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Marteq's insight:
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CEOs need to start taking ownership of their company's story, and stop passing the buck to marketing. Key excerpt... The vast majority of CEOs aren't taking the time to understand their story and how it relates to their products. Instead, they are continuing to separate product from story, and pushing responsibility for story down to the marketing department. By doing this, they are giving their CMOs an impossible job — marshall a story that is unfolding across the entire enterprise — product development and customer service — areas that most CMO's don't touch or can't control. Yet they are still holding the CMO responsible for results. No wonder the qualities sought in a CMO these days might be mistaken for those of a bullfighter or a test pilot. CEOs who stick with this model will struggle to keep the best marketing talent over the coming years, as more enlightened competitors poach the most ambitious marketing stars and empower them to quarterback the story across the whole organization.
Marteq's insight:
It could be one reason why CMO tenures are relatively short. But I think the root of the short tenure has been the historical lack of measurability associated with actions taken by the CMO. However, with the advent of marketing technology, analytics and measurements directly related to objectives are proof points that will elongate the tenure of the CMO.
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Given the ease of social media and other online channels, not using the CEO is a lost opportunity to cultivate the company\'s image in the minds of the media, prospects, and customers. Key excerpt... • Objectives and strategy. What are the messages you need to communicate, and what are the best channels to reach your target market? Assuming there's already a general PR plan in place, start with a focus on online media and industry conferences.
Marteq's insight:
Proceed with caution. The "how" is described, but not the "why." And there are arguments that support not doing this. If you want to learn more, go here, click on Filter, and then select CEOs.
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Marteq's insight:
As we said in the previous post: is it worth it to do this?
SoftwareHollis's curator insight,
June 4, 2013 12:16 PM
I'm always surprised to see how few "high tech" executives are absent on #SocialMedia. Especially CEOs.
This is (especially in software) a "worst practice" as it gives your company "negative credibility".
CEOs, General Managers, Country Managers and other "top tier" executives are in a unique position - they're credible and they get attention. Why waste that potential and the free market exposure?
I know CEOs are busy people - if the CEO can't do this function, have someone in marketing communications do it for them.
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Senior executives whose CEOs use social media are extremely positive about the effects of their CEOs’ actions, per results from a study [pdf] by Weber Shandwick. However, many CEOs haven’t made the move to social media use yet, and the study results indicate that perceived risk is a key impediment. Senior executives with “unsocial” CEOs were asked the reasons why their CEO does not participate in social media, with almost one-third responding that it’s too risky. That was one of the top barriers, slightly behind social not being typical for the region or industry (35%), the CEO seeing no measurable return on investment (34%), and a lack of demand for the CEO to do so (34%).
Marteq's insight:
Combine the lack of ROI and the "too risky," and this makes sense: why would a CEO want to put himself/herself out there if there is risk with an unknown upside? It's not about being unsocial, but about being risk adverse, especially in this litgious environment.
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3 in 4 CEOs aged under 50 say they “mostly consume information online,” and close to 2 in 3 aged over 50 agree, per results from a CEO.com survey that examines the ways in which 358 business leaders stay informed. But while their information consumption may have gone largely digital, it hasn’t migrated to newer forms of interactive content, according to the survey’s results. Asked which forms of online media they prefer, 57% indicated text, compared to 18% who cited infographics (with preference for this format skewing younger), 8% video, and 2% podcasts.
Marteq's insight:
In case you need to reach CEOs: write it!
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Continued inroads of MarTech, with proper attribution, will lead to longer tenure.