For CMOs, there’s bad news, good news and great news.
Understanding the impact of their marketing spending is vital to the career health of almost every CMO.
Bad news. The average tenure of CMOs at the nation’s biggest brands is less than four years* (45 months) — an indication of just how tenuous this pivotal position really is. Naturally, CMOs are tracking the effectiveness of their advertising. But according to the CMO Survey, 63% of CMOs are unable to prove the short-term impact of their advertising. And 70% of CMOs are unable to account for the effectiveness of their long-term plans.
Good news. It appears that the average tenure for CMOs is on the rise. Although 45 months might seem unequal to the challenge, that number is actually an increase over the 2006 average tenure of 23.2 months. So what’s causing this change in direction? Data-driven marketing. “A tectonic shift toward making marketing a technology- and data-driven discipline is having a major impact on the CMO role,” according to Forbes Insights’ Daniel Kehrer.
Great news. For CMOs that value a new customer lead, Calise Partners is the integrated marketing agency that uses Advertising Science™ to measurably improve new customer growth. For years, the practice of advertising was largely guesswork and the application of good instincts. That was unacceptable for us. We wanted to know what was working and what wasn’t.
So, we pioneered the modern practice of Advertising Science™ and created the AdScience® Data Management Platform that profiles current customer data to more effectively mine for new customers.
The AdScience Data Management Platform is advertising science in action. It’s an extremely powerful data management platform that allows brands to easily visualize high-potential customers where and when they are most likely to be influenced, thus taking out much of the guesswork.
All the data. With AdScience, we are able to visualize advertising across multiple media types, giving clients the ability to quantify advertising’s effect on new customer conversion. The platform is capable of measuring customer relationships in both online and offline channels, and takes all data into account — not just the kind created by customer response.
- Online media
- Offline media
- Marketing schedules
- Customer demographics
- Response, conversion
State of the art. AdScience uses both structured and unstructured data to create robust, high-value customer profiles. This allows clients to gain new insights about the customer base, and empowers them to target prospects that look identical to high-value customers.
Most importantly, AdScience enables clients to visualize the results of every dollar spent, delivering new customers both efficiently, and cost-effectively. Any CMO using AdScience can prove the impact of their marketing investment. And that’s the best news of all.
Read more about AdScience. Download the whitepaper here.
You might also be interested in this article, Science Provides Answers to CMOs Biggest Concerns.
*Spencer Stuart CMO Tenure Study, 2013