Some Worring Trends for CMOs
Here are some worrisome trends from CMO priorities in a Marketing dashboard from a Gartner survey –
Gartner surveyed CMOs across 600+ companies and asked them ‘the most important metrics on their marketing dashboard’.
First the good news:
Share of wallet is # 2, competitive benchmarks got high ranks.
Here is what’s worrying:
1. Priority being awareness; brand health, share of voice, sentiment getting high rankings imply that marketers are still looking at yesterday’s metrics / branding metrics and not a contribution to sales.
2. ROI & CSAT measurements are very low behind branding priorities
3. The elephant in the room is nobody is tracking ‘% contribution to revenue’ by marketing. What gets measured gets done. If no one is tracking this or bothered about it – then it isn’t a priority.
CEOs & CFOs look at ROI and % contribution to revenue. It would be troubling for marketing’s relevance and ability to set the agenda for a company if CMOs are not able to make a case of which Marketing campaigns contribute maximum to Revenue!