Only a combined one in five global marketing executives with an online marketing operation [sign-in page] rates their performance capability “good” (15%) or “excellent” (5%), according to a July 2011 survey from the CMO Council, Deloitte Consulting LLP and Openet. Data from “Marketing Outlook 2011” shows another one in four rates their performance capability as “not doing a good job” (17%) or “struggling” (8%).
Close to Half See Online Performance Capability as ‘Growing’
In one sign of optimism, close to half (46%) of respondents rated their online marketing performance capability as “growing,” with improving measurement. The remaining 7% are questioning the value and quality of their click-throughs.
6 in 10 Marketers Will Increase Budget
Almost six in 10 (57%) of marketers intend to add to their spend in 2011. Most will stick to a budget that represents between 2% and 4% of their revenue. Less than ten 10% of marketing budgets will fund digital platforms.
Survey data indicates other major resource allocations will go toward building more sophisticated analytical abilities into marketing teams. According to survey respondents, many marketers are looking to develop teams with both enhanced data analytic capabilities and with the ability to leverage those insights through more comprehensive strategies that look to acquire, retain and activate loyal customers.
Lack of Value-Added Thinking, Innovation Provoke Agency Switch
Among those marketing executives who made agency changes in 2010, 35% cited to the lack of value added thinking as the primary reason for the break. Another 33% said there was a lack of innovation, while 28% believed results did not meet expectations.
Clear Goals, Not Collaboration Seen as Key to Operations
According to the survey, 60% of marketers intend to set clear goals and track deliverables to better monitor and control spend while maximizing effectiveness.
However, though operations are top of mind for marketers, workflow management and the application of process and workflow management is still a distant goal. Only 16% of respondents intend to invest in collaboration models as a way to improve performance.
Targeting is Most Popular Data Strategy
To maximize the impact and value of marketing in 2011, survey respondents will focus heavily on data, customer insights and improved segmentation. As the main strategy, 64% of marketers will look to improve targeting in their marketing outreach and campaign rollouts. Meanwhile, 43% will turn to digital demand generation and online relationship building to increase the effectiveness of campaigns.
Forbes: Understanding Campaign Influence Top Online Challenge
Understanding the influence of a marketing campaign beyond acquisition and conversion to include the influence of each interaction is the top challenge for US and UK marketers, according to a June 2011 survey from Forbes Insights and Coremetrics. Results of “Bringing 20/20 Foresight to Marketing” indicate 26% of marketing executives rated this as a top online marketing challenge (more than one answer allowed) for their organizations.