Ad Age Agrees — CMO’s to Be Financially Accountable
Posted on March 12, 2009
Most of you that have read my blog posts know that I’ve been trumpeting a wake up call to all marketers that the days of dumping millions of dollars into non-measurable, interruption marketing are over. While my target audience has been largely management and executives, we’re pleased to see the latest Ad Age article that raises the stakes and calls out the CMO as holding ultimate accountability for marketing performance and budget ROI — and I couldn’t agree more.
In today’s economic meltdown, marketers needs to be “manning the war room” where tactics are mapped, performance is measured, and funding decisions for tactics are made each week/month based on what is working and what is not. Not only are we talking about measuring acquisition performance of the various sales funnels, but focusing on the lifetime value of the customers produced in each sales funnel (see our other blog posts on this topic).
It doesn’t matter if you’re embarrassed to say you are a marketer not getting it right when it comes to performance metrics — because few are. However, the sooner you start the more quickly you can distance yourself from your competitors who may be sitting around their agency conference room asking how much “reach & frequency” they should be buying — instead of how they should be engaging prospective customers via permission marketing.
Feel free to share your thoughts.