A CMO Solution Guide from The CMO Club & SocialCode
Using a digital first approach can provide powerful leverage and insight for marketing leaders today. New research by The CMO Club, in partnership with SocialCode, reveals that few marketers take full advantage of digital and social advertising to better inform marketing choices and audience preferences using lower cost, rapid feedback that enables nimble, agile marketing.
A survey of 80 CMOs of large consumer brands shows that:
- 61 percent of respondents do not use digital advertising to identify new customer segments and better understand people in their customer databases.
- 66 percent of respondents do not use digital advertising testing to make conventional advertising channels (TV, radio, print) smarter.
These are missed opportunities. Digital advertising is a treasure chest for CMOs and help guide marketing in areas such as higher customer relevance, reduced waste, accelerated learning and greater marketing impact. Together, digital marketing and social advertising can tout the creation of:
- rich consumer data for sophisticated segmentation and relevant messaging
- low-cost testing and precise targeting to reduce waste
- accurate message sequencing and cross-device analytics
In this study, CMO leaders from 3M, Belkin International, Clorox, Patron Spirits, Sprint and TD Ameritrade shared examples of how digital is boosting their brand and marketing.
The beauty of a digital first approach is that it works to augment current marketing. For example, while traditional mass media channels remain powerful assets, they provide infrequent and imprecise feedback about what worked, when and why. Digital can fill in these gaps so that marketing budget choices generate better results. Using digital to test creative and audience together can help inform marketers what drives different segments to a first-time purchase and thus save misspent marketing dollars and fatigued, disinterested customers from turning off from a brand.