7 Questions Every Head Of Marketing Better Be Able To Answer
CEO Francine Hardaway:
"Brands are promises that get delivered every day. What did you promise today?"
CMOs have it tough. Not only do they have to account for every single dollar invested in marketing but they have to be part engineer, part marketer, and part financial guru.
Although most industries have been disintermediated by technology, the marketing industry worked backwards. More and more intermediaries now stand between the brand the publisher. It used to be only an agency. Now it’s many agencies and a plethora of tech vendors.
To complicate matters more, the marketing mix is expanding daily and now includes more buzzwords and acronyms so that you don’t pay any attention to the people behind the curtain. The savvy CMO is going to have to learn what questions to ask. Working with Proximic and its special way of helping brands deal with their own data to plan media has taught me to ask the right questions. The answers will be different for each of you.
Does this algorithm work for me?
Do I need RTB (real-time bidding) or RTM (real-time marketing)?
What’s more important, targeting the right person or delivering the right message? And do I need a cookie to know?
Do I know that where I’m appearing is brand safe?
What’s premium now?
Where does digital fit in my overall media mix?
What do I do with “Social-Mobile-Local”?
Remember: All advertising starts with a problem (e.g., one of your brands needs to gain share versus a competitor or need to protect share from a competitor). The only ROI that really matters is Did you “move the needle”? Did you move product or move minds? To do either, that message has to break through the clutter. That’s all. No other metric matters.
[Image: Flickr user Tony L. Wong]