Brands are becoming more mature in their approach to content marketing campaigns, but chief marketing officers are still struggling to draw together the myriad of benefits that they bring back to the business in order to really drive revenue and profits.
That is the main takeaway from the latest CMO Pulse Survey. 52% of CMOs admit that they cannot currently connect the improving results of marketing teams to the performance of their company. This suggests that brands still have work to do to integrate marketing success into the wider business to support real value-added returns.
“Today’s marketers have more data and analytics than ever before, so it would seem they should be able to tie their efforts directly to the success of the company,” said Korn Ferry Global Marketing Officers Practice Managing Director Caren Fleit.
“Unfortunately, many measure the effectiveness of initiatives only in terms of marketing metrics and miss the opportunity to connect it to overall business performance as measured in terms of sales and profit, among other factors.”
In fact, it appears to be data and analytics that are holding brands back in their quest as 39% said that this function was in need of significant improvement. A further 30 per cent said that personalisation strategies needed to be overhauled, while 12% claimed that branding required updating.
Analytics and personalisation were also cited as two key areas of improvement in another recent report. The “2nd Annual Personalisation Development Study” released by Monetate found that almost half of marketers believed data quality to be one of the major challenges in the pursuit of enhanced content personalisation.