What's the Latest Development?
A global study of chief marketing officers by IBM has revealed many are unprepared for the explosion in personal data they will have access to thanks to the social media revolution. The study warned that many marketers are unable to provide key financial data on the return on investment in emerging media that is required by their financial departments. Meanwhile, some remain overly reliant on old fashioned marketing measure such as focus groups.
What's the Big Idea?
CMOs have generally not been expected to provide the hard financial evidence of their return on investment but organisations can no longer afford to write a blank check for their marketing initiatives. Nearly two-thirds of CMOs think return on marketing investment will be the primary measure of the marketing function's effectiveness by 2015.