A new report by the CMO Council stated, marketing performance measurement (MPM) is a top priority for CEO’s but most companies don’t have a MPM program in place. The report said, “accountability—not brand or eyeballs—is the new watchword for the chief marketing officer.”
Why? Many CMO’s hoped that technology (CRM and MRM) would close in on the ROI measurement gap… unfortunately they are realizing these technologies just magnify the larger problem of poor teamwork. Measuring ROI requires a tremendous amount of collaboration from sales, finance, it and other departments. Collaboration requires a shared vision – a sense that we’re all in this together.
“The typical CMO—according to our research—is able to neither measure nor systematically communicate on the fundamental business processes in the marketing function and their results. This can set the stage for a CMO’s failure,” the report said.
Overall, brand awareness (not MPM) remains the number one priority for B2B marketers, but they are unable report or measure how much brand building attributes to sales growth so now they are faced with a conundrum. Since marketers are unable to measure (their top priority) of brand building, they are reporting lead generation statistics instead. I put some metrics below and rated their relevance to others at the executive table.
BtoBOnline:CMOs losing influence at the executive table