Metrics for CMO performance
OgilvyOne New York
Dimitri Maex of OgilvyOne New York outlines five ways for CMOs to persuade the boardroom that marketing expenditure has a positive effect on the bottom line.
A lot of the chief marketing officers (CMOs) I meet these days feel wrong-footed. They have greater influence than ever in the executive suite as the tools they use grow in sophistication. CMOs, in conjunction with their planning and analytics partners, can understand the behaviours and desires of individual consumers with unparalleled accuracy and use that knowledge to market the company better. That's good news for them and for their businesses.
However, this larger voice results in greater pressure from their executive peers to demonstrate unambiguously the impact of what they are doing on the overall business. CMOs are increasingly concerned with marketing accountability. In these uncertain economic times, that's not going to go away, and it is up to their agency partners to make accountability part of the strategy from the outset.