A recent study in the International Journal Of Research In Marketing about the use of marketing analytics concluded that 'the more a company uses these techniques, the more it will reap positive and sustainable performance achievements'. However, this isn't evident for everyone.
The other day I attended a course about corporate strategy. It's part of a board member certification so the course level is generally high. Strangely, during this particular course the lecturer chose to focus on marketing strategy, although this is not the same as corporate strategy. Indeed, a good marketing strategy informs and subsequently supports the corporate strategy but it is not the corporate strategy.
But the real problem was the way he lectured about customer analytics and insights: he proudly announced that 1) it's really important to talk to your customers, 2) he had developed a completely new concept called 'customer insight analysis'.
On Wednesday Twitter announced a partnership with Comcast which will allow users to tune into a TV show directly from a Tweet they see online. This feature, called See It, will give Comcast Xfinity TV customers in the US the ability to do several things in response to viewing a tweet, such as change the channel, set the DVR and play a show On Demand or add it to the On Demand queue. They could also use the feature to tune in and watch the show online or on their mobile devices.
The feature, which will debut in the US in November for Comcast Xfinity TV users, is capitalising on the way in which many Twitter users use the site to host real-time conversations about television shows, quite often while the programme is live on air. See It will therefore provide the option to link directly to the TV programme which is being discussed online so you too will be able to understand and contribute to the discussions that are going on. This hopes to create a more integrated approach between television and social media.
The Chairman and CEO of Comcast Corporation, Brian Roberts, commented that "See It is a simple yet powerful feature that creates an instant online remote control. Comcast is taking a leap forward in social TV by enabling Twitter users to more easily find and view the shows they want to watch and discover new shows. Twitter complements the live viewing experience and is an ideal partner for Comcast and NBCUniversal."
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Content marketing is all the rage. Little wonder, given that social media is only growing in importance, and brands need content to engage fans in that environment.
So how effective has content marketing been thus far? CMO.com did some research for the answer. Here's what we've found:
1. B2B content marketers in North America are making strides: 42 percent consider themselves effective, up from 36 percent last year.
2. Forty-four percent of B2B content marketers have a documented content strategy, and 73 percent have a person who oversees content marketing strategy.
3. Only 10 to 20 percent of a company's Web site content drives 90 percent of its Web traffic, and only half a percent of a Web site's content drives more than 50 percent of its traffic.
4. Nearly three-quarters (73 percent) of digital marketers agree that "brands are becoming publishers."
5. Increased engagement is the most commonly cited objective for content marketers, with 52 percent of in-house marketers and 58 percent of agency marketers listing it as one of their top three business objectives.
The CMO's average tenure has almost doubled during the past nine years. But it's still much shorter than that of the CEO and CIO.
Indeed, many CMOs come and go. Some decide to move on for greener pastures; others crash and burn. Don't be the latter. Rather than fall prey to misplaced expectations and relentless change, break free by using your skills and talents to harness and direct the power of change. Let's become change agents who drive profitable business growth, i.e., Chief Growth Officers.
Following are five ways CMOs can expand their influence and impact, straight from my career.
1. Market yourself: Our jobs are to market our companies, our brands, and our products, but what about ourselves? Being a great CMO means facing out to the market and keeping one's "finger on the pulse" of the customer at all times. But what about facing in? Years ago I began to evangelize my capabilities and how I was contributing to the business. Yes, it takes time, but you have to do it. One way to spread the word about yourself and marketing's broad capabilities is to ask trusted colleagues to speak for you and for the importance of the CMO role to the business. You know how to get customers to speak for your brand--it's the same difference.
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