The deadliest thing in the world

When the economic downturn started in the US in 2008/2009 there was a lot of discussion among business leaders about the need to dig into the details of your business and focus on the little things that matter to your business. It was then time to measure every nuanced part of your customers and employees to determine how best to not lose business as the economy started to enter a death spiral.

People would point to the “Broken Windows” theory in criminology that had been published in 1982 and then put into successful practice in Sweden and later in NYC in the 1990s. The idea was, that if you stop the bleeding in one area, it would matter to the overall health of your business.

We’ve all heard and likely offered the suggestion to “not sweat the small stuff,” and “keep your eye on the big picture.” The big picture in this case is a fact most people don’t know. Mosquitos are the deadliest thing on the planet.

We’ve all heard and likely offered the suggestion to “not sweat the small stuff,” and “keep your eye on the big picture.”

This is one example where looking at the broader mortality statistics around mosquitos leads you to focus on the little things that matter: The deadliest thing in the world (from Quartz Obsession)

Is it time for CMO-CIO Convergence?

CMOs are struggling to be heard. This is one of the main conclusions in the new Evolving Marketer Study 2018.

Much the same way that HR was looking for a seat at the table in the 90s. CMOs need to better understand their contribution to revenue. Part of that is to better integrate with data solutions and the CIO office. Or, even a convergence of the two roles. Think about that for a minute.

As data driven CMOs are increasingly in demand to deal with a myriad of digital developments around privacy, data management and precision targeting, AI and more, there’s more pressure than ever for each C-Suite occupant to collaborate. CFOs are still behind when it comes to digital knowledge, and that adds to the confusion over seemingly blurred lines between traditional organizational structures and the roles of CTO, CIO and CMO. Not to mention the CEO.

 

Maybe what it will take for CEOs to truly understand the impact of marketing on an organizations bottom line (currently only 53% of CEOs fully understand what their CMOs actually contribute), is a better understanding of digital transformation.

 

“As the need for digitally focused business increase, things have evolved, and the “solutions driven” function of the Tech CMO has become a critical component of the sales process.”

 

One of the top takeaways from our Global CMO Study is that data and analytics have seen the largest share of budget increase for CMOs. Less than 50% of the data that they have access to is being fully exploited. CMO’s need to devote more attention to the tools and resources required for smarter analysis. In fact, CMO’s today are responsible for 12+ different areas of creative and technology assets.

 

 

 

 

To download the full Evolving Marketer 2018 whitepaper click here.

eMarketer’s Study on Digital Transformation cites The Evolving Marketer Study here: The Modern Marketing Department: Evolution Through Digital Transformation

How GDPR Will Transform Digital Marketing

From HBR: This month will see the enforcement of a sweeping new set of regulations that could change the face of digital marketing: the European Union’s General Data Protection Regulation, or GDPR. To protect consumers’ privacy and give them greater control over how their data is collected and used, GDPR requires marketers to secure explicit permission for data-use activities within the EU. With new and substantial constraints on what had been largely unregulated data-collection practices, marketers will have to find ways to target digital ads, depending less (or not at all) on hoovering up quantities of behavioral data.

More

CMOs rein in ad spend as majority draw more services in-house

From The Drum: “A global survey of chief marketing officers (CMO) conducted by NewBase, the marketing and advertising consultancy, has delivered some interesting findings – chief amongst them the fact that 60% now plan to halt further increases in ad spending or even reduce expenditure.

The Evolving Marketer report wasn’t all bad news, with 72% of senior marketing leaders committed to growing their content marketing budgets as part of a laser focus on boosting growth.

Download the Whitepaper here.

This is coupled with some other interesting snippets including the fact that two-thirds of CMOs now say that they will bring more marketing services in-house, despite the fact that a paltry 3% consider themselves to have the appropriate skillset – limiting the ability to do so.

Another stumbling block comes in the form of data with three quarters of respondents in agreement that they are only in position to harness a tiny fraction of the data they have access to, with half of all data entirely unused, prompting 80% of CMOs…..”

Read more at The Drum.

The Free Ride Is Over – FCC Repeals Net Neutrality

If you listen to the lyrics of REM’s ‘It’s the End of the World as We Know It (And I Feel Fine!)’ it feels more like a prediction as we live through 2017. US net neutrality is for the chop, after today’s vote by the Federal Communications Commission (FCC) undoing 2015’s rules that stopped internet providers from blocking or slowing particular websites based on a tiered/paid system.

Read the full story on The Drum.