Note: This post is a timely refresh of a blog we wrote in 2016, The Pros and Cons of Different Revenue Attribution Models.
To truly understand marketing ROI, we must first understand marketing influence. It's important to understand not only how much revenue the marketing organization has influenced but also the degree of influence. Ultimately, organizations want to know how much revenue they can attribute to their marketing efforts. This is not as easy as it sounds.
Topics: Marketing Analytics, Revenue Attribution, Buyer's journey, Marketing Insights, marketing measurement, Marketing Performance
Over the past few years, research has been showing a decline in the average tenure of a U.S. chief marketing officer.
In fact, at 3.5 years—cites a new report from consulting firm Korn Ferry—the CMO’s tenure actually ranks as the shortest of all titles in the C-suite (CEO, CFO, CHRO, CMO and CIO/CTO). In comparison, the average for the CMO was 4.1 years in 2016.
The report, which analyzes the top 1,000 U.S. companies (by revenue), notes in particular that CMOs in the technology industry are ranking the lowest on average, with a 3.0-year tenure. At the top were CMOs in the industrial sector, coming in at 4.0 years.
Caren Fleit, leader in Korn Ferry’s global marketing officers practice, suggests the overall tenure problem could be tied to an organization’s deficiency in proving the true value of the CMO—i.e., “a lack of understanding of how powerful this role can really be in terms of driving business outcomes.”
Read MoreTopics: Dashboards, Marketing Planning, Marketing Analytics, Revenue Attribution, Hive9, marketing measurement, Marketing Performance
It’s been nearly five years since we posted a blog denouncing the use of spreadsheets for complex marketing performance management.
Read MoreTopics: Marketing Analytics, Demand generation, Data silos, Marketing Budgeting, Marketers, marketing measurement, marketing data, collaboration
Is your company’s data analytics practice up to snuff, or are there things you could improve? During Adobe’s recent virtual Summit, two analytics experts teamed up to offer tips and tricks on bringing a “data-driven, decision-making culture” to your organization, starting with democratizing your data.
Read MoreTopics: Marketing Analytics, Marketing Automation, Marketing Personalization, Data Visualization, marketing data, Marketing Performance, marketing strategy, marketing
Happy Super Bowl Sunday! Whether you’re thrilled or crushed you won’t see the Patriots - say what? - in the big game this year, you’re bound to be entertained by at least a few exceedingly pricey commercials, which are estimated to sell for roughly $175,000 per second. Yup, according to CNBC’s estimates, it’ll cost a company a total of $5.25 million for 30 seconds of advertising this year, which is up from $37,500-$42,500 per spot back in 1967, the year of the first Super Bowl.
Read MoreTopics: Marketing Planning, Marketing Analytics, Martech, marketing measurement, marketing data, Marketing performance management, Marketing Performance
C.S. Lewis authored the often quoted saying that “two heads are better than one.” Why? “[N]ot because either is infallible,” the British writer said, “but because they are unlikely to go wrong in the same direction.” Of course, Lewis wasn’t referring to marketing strategy, but the quotation proves an apt concept in this space, particularly when it comes to effective budgeting.
Read MoreTopics: Marketing Planning, Marketing Analytics, Budgeting, Revenue Attribution, Marketing Budgeting, marketing data, agile marketing
In the fourth season of The Office, Michael Scott, laden with financial troubles, decided he needed to declare bankruptcy, leading him to announce to his colleagues, “I declare bankruptcy!”
Spoiler: His verbally declaring bankruptcy didn’t automatically launch the legal process. In the marketing world, the same can be said for deciding to adopt an entirely new approach for your team. For instance, agile marketing - becoming more popular in the B2B community in particular - can’t be implemented by waving a magic wand and assuming everyone is on board with the concept. Instead, it takes proper planning, training, and, importantly, a collaborative and centralized platform.
Topics: Marketing Planning, Marketing Analytics, Marketing Insights, Marketing performance management, Marketing Performance, marketing strategy, agile marketing
One of the best quotes about planning ahead comes from that iconic Founding Father, Benjamin Franklin: “By failing to prepare, you are preparing to fail.” This is particularly apt in the world digital marketing, where a lack of specific strategies to achieving clear goals will sink any business, big or small. For that reason, we’ve listed five features every marketer needs to look for when selecting an effective marketing-planning software solution.
Read MoreTopics: Marketing Planning, Marketing Analytics, Financial Planning, Revenue Attribution, Marketing Budgeting, Marketing Insights, marketing measurement, alignment
Spreadsheets were developed to manipulate numbers, not to juggle marketing campaigns, sales leads, the demand center, teams divided by region or country, or conflicts between digital campaigns and events. In fact, the more information crammed in to a spreadsheet the more unwieldy it becomes. The harder it is to use, the more the data becomes siloed. And when the data is siloed, it might as well not even exist.
Read MoreTopics: Marketing Planning, Marketing Analytics, Effective Planning
The most effective marketing organizations in 2017 (and beyond) will be those who break down any remaining barriers that prevent them from working harmoniously with sales. Collaboration is the path to better results for both teams, a bigger contribution to the company’s bottom line, and a clear justification for getting a sizeable budget renewed each year.
Read MoreTopics: Marketing Analytics, Hive9, sales, sales enablement
