A New CMO Survey Reveals Concerns about Measurement and Growth: Implications and How to Overcome the Gaps

Recently, The CMO Club surveyed and conducted in-depth interviews with CMOs from companies like Daisy Brands, Illy Caffe, Mars Pet Nutrition, Molson Coors, and Pearle Vision. Top of mind ? -- measurement methods and their quest for growth. In response to survey feedback, The CMO Club then partnered with Catalina Marketing to provide CMOs with a solution guide to help them overcome the gaps. Detailed findings of the study are available in this CMO study announcement issued by WRP Communications on behalf of both parties.

Key Take Aways

• Marketers expressed skepticism that the widely used Marketing Mix Attribution model is still relevant, even while still being heavily reliant on it.
• Marketers are re-examining measurement methods based on their quest for growth.
• 72 percent of those surveyed cited a business growth rate of less than 10 percent last year despite a robust economy and the mountains of consumer data at their fingertips.
• 76% of the companies surveyed believe their digital efforts best drive growth, yet the majority (59%) say they would use a mix of digital and traditional media if budget was not an issue. 
• 45% admit to not having a unified approach to measuring their offline and online marketing activity. 
• Those that do have a unified measurement approach are more than twice as likely to report growth greater than 10%. 
• 78 percent of respondents plan to make changes to their marketing mix within the next 12-18 months. Most expressed the pressing need to get a better handle on what’s working and what’s not.

Implication

There is a dire need for a more holistic approach to multi-touch attribution 

How to Overcome the Gap

The CMO Club partnered with Catalina Marketing to Provide Marketers with a Solution Guide to Address their Concerns and Create New Opportunities.