"Budgets open up, but strategies change."
As 2011 unfolds, companies across many industries continue to increase spending on marketing. According to the latest CMO Council's State of Marketing Report (www.cmocouncil.org), more than half of marketers are experiencing increases in budgets this year, based on information provided by CMOs and marketing VPs. You may not be surprised by what strategies are receiving additional funding, digital and social media channels, but you may be interested in how new strategies are expanding the role of marketing within the organization.
It is no surprise that marketers are focusing on digital channels and social media strategies to reach prospects and further develop relationships with customers. Although many marketers surveyed from the CMO Council would consider their organizations novices in these areas, they are applying their budgets accordingly and shifting on how they monitor, manage and report on the results. With a focus on banner ads, online video, SEO, mobile and other digital and social channels, marketers are building-out online communities and social media feedback systems to monitor activity, mine data and track interactions. Now marketers are shifting focus on customer segmentation and lead targeting efforts to gain a more accurate cross-section of the market segments and, ultimately, the customer.
Because these new marketing strategies and tactics continue to stretch the continuum from lead acquisition to customer service/management, marketing continues to be elevated at the business strategy table for more broad-ranged planning and forecasting discussions. According to the State of Marketing Report, 75% of CMOs and VPs are requested to be more involved in global business planning, from assessing sales channels to discussions on product distribution.
As you innovate your marketing approach, consider looking at digital channels and social media strategies through a more initiative-based or temporary perspective. Build a team on-site to implement a social marketing strategy. Work with an outside agency to craft a market-focused mobile campaign. Consider using outside experts to gain inside knowledge, then when you see results and sustainability, consider shifting resources internally to gain additional traction.
The philosophy of Creatis has always been to help companies stay nimble and innovative. We continue to help internal and external agencies flex to the needs of their business. We encourage companies to innovate their marketing approach through building scalable solutions.
"If you're not failing every now and again, it's a sign you're not doing anything very innovative." - Woody Allen