They told IDC’s CMO Advisory Service that marketers and sales pros need to be selective in what information they provide. Technical, peer-based, and/or third-party content are preferred. In the buyer research covering more than 200 companies, the respondents admitted that they’re partially responsible for the growing sales cycle and if you can help shorten it, their appreciation could lead to a sale.
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CMOs are struggling to adapt to a world that has fundamentally changed over the course of their careers. Disruptive digital technologies and the new expectations of the global consumer are forcing global firms to adjust and innovate. SapientNitro has made a significant effort to understand how these changes are impacting large global organizations. What we found was surprising: Just 15% of senior marketers feel prepared to deal with the rapidly changing consumer, and just 8% believe agencies are succeeding in their support of global brands. Our CMO Global Marketing Readiness Study, a six-month research study of 114 CMO-level marketers, identified five significant challenges that should act as a wake-up call to global marketers:
It’s a story all CMOs can relate to: As soon as you successfully monitor one of your online marketing campaigns, you quickly realize your next campaign will be confronted by even more intimidating measurement challenges.
CMOs are predicting a 0.8% decline in traditional advertising spend in the next 12 months, according to findings from Duke University’s Fuqua School of Business, which released its latest CMO Survey in February 2012. This represents a 161.5% decline from the last iteration of the survey, when marketers predicted a 1.3% increase in traditional advertising spend. The forecast also stands in contrast to CMOs’ outlook for internet marketing spending, which continues to go up, from a projected 11.2% increase in August 2011 to an expected 12.8% rise in February.
If B2B companies are serious about growth, it’s time they got serious about their marketing. Marketing needs to take on the challenge of becoming a growth engine for companies. That means CMOs have to step up and lead.
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