According to the CMO Council's Marketing Outlook 2011 study, as marketing budgets are on the rise, the key management mandate to marketers is to drive top-line growth and market share while better defining the brand and value proposition. In fact, 57% of senior-level marketers say they are increasing their overall marketing spend in 2011 as 26% plan to increase budgets between 1% and 5%, according to the report.
Through new automated campaign and lead management tools, marketers can engage in highly interactive, highly relevant dialogues across multiple channels, reaching across social, digital, and traditional media channels. Connecting the measurements of these multiple channels is one of the key challenges marketers will seek to address in 2011.
The study responses conclude that marketing must redefine the customer experience, developing web experiences that are highly engaging, personalized and differentiated. In addition, the new "experience mix" must include social platforms, and integrate the messaging and engagements through traditional channels. Furthermore, marketers need to better understand the impact marketing and technology integration can have in making customer experiences more gratifying and satisfying, to improve loyalty, retention and repeat purchase.
Throughout 2011, marketers will focus on operational transformation in an effort to fulfill a move away from "random acts of marketing," and realize the more accountable, productive models that senior management demands. In doing so, they will pay special attention to improving operational visibility and accountability.
In this study 64% of respondents said they reported directly to the CEO, president or COO, while another 14% said they were accountable to a regional vice president, general manager or division/business group head. Among the respondents, 34% held CMO or head of marketing titles, while 33% held roles of vice president or above.
For additional information and to access the PDF file of the Marketing Outlook, click here.
Posted by Brittany Agro