In July, the CMO Council released their Marketing Outlook 2011 study. The findings indicate that the key management mandate to marketers is to drive top-line growth and market share while better defining the brand and value proposition.
It is not surprising to see that the CEOs want marketing to drive the acquisition of new clients and market share. The sales funnel is a consistent factor for every size of company and needs to be fed.
The economy is cited as CMO’s biggest challenge, followed by technological challenges and Internet influence and voice:
This report from the CMO Council cites several challenges marketing must address, such as:
- New technologies are keeping marketing on its toes as processes and engagement cycles have sped up, making maintaining technological proficiency a key priority
- The influence of the Internet is also emerging as a key challenge for marketers. Driven by a more savvy and demanding customer, the Internet demands new talent to develop strategy, execute, monitor and measure, and not all marketing organizations are currently equipped with that personnel
- Though the recovering economy reigns supreme as the top challenge for survey respondents through 2011, digital dominates three of the top five concerns, highlighting the ongoing stress of new technology within marketing.
How are you keeping up with the digital technology demands?
There are new applications and devices coming to market every week and at times, it is difficult to get your arms around all that is available. What process do you undertake to assess and procure these new technology wonders?
To obtain a copy of this CMO Council report, please click here.
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