Data has the power to build or burn brands
A brand can be severely wounded by use or misuse of any of its assets and you could say data has the greatest power of all to inflict damage.
CMOs bullish about the future but not keen on launching new products
First Forbes/gyro CMO Index finds US chief marketing officers are investing in the future but cautious about growing in new markets
Chief marketing officers (CMOs) have a positive outlook over the next six months but continue to be cautious about entering new markets and launching products and services, a new report claims.
The inaugural Forbes Insights/gyro Index surveyed 876 US marketers and found 45 per cent are more optimistic about industry-wide marketing conditions, while 46 per cent are as optimistic about the future as they are today.
In addition, 39 per cent are increasing marketing budgets compared with 49 per cent who are retaining existing numbers. The quarterly poll was completed in October and based on respondents assigning a 0, 10 or 20 point sentiment score to each question.
One the issue of staffing, 54 per cent said they are maintaining existing employee numbers, while 36 per cent plan to add more staff.
In a sign of the continued caution in the market, however, 55 per cent of those surveyed are spending the greatest amount of their time growing existing markets, against 29 per cent who are preparing to enter new markets and 16 per cent who are focus on growing in new markets. The report authors said the overall sentiment score of 7.5 indicated a clear negative sentiment towards entering new markets.
The figure in perhaps unsurprising given industry-wide acknowledgement that customer retention is cheaper than new customer acquisition.
In addition, 58 per cent of respondents are focusing on growing existing product lines and services, while just 14 per cent are prioritising new product or services launches. The overall sentiment score was 5.8, again indicating the negative sentiment towards new product and service expansion currently.
Overall, Forbes and gyro, a global ad agency, assigned a 52.1 sentiment score to respondents for October. Across industry sectors, business services/legal/training and consulting gained the highest optimism score, while aerospace/defence recorded the lowest.
Marketers must transform their story to meet the new customer paradigm: McKinsey
How you can be a digital CMO
Should CMOs own product development?
Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia
Promotion is difficult. You should be able to do it. Sometimes it turns out bad, and when you turn to professionals, it turns out well - ...
Jordan Samuil
Village Roadshow partners with Lion for pourage rights and promotional partnership
This is very good news for Australian SMEs as ActiveCampaign is an very powerful marketing automation / email marketing tool that costs a...
Lawrence
SMB marketing automation provider sets up Asia Pac HQ in Sydney
Thanks for the info! If you are looking for commercial real estate in Mumbai, visit us at Jagaha.com! We have over 20,000 verified proper...
Gizelle
Salesforce ups the Marketing Cloud ante with Datorama acquisition
Completely agree! For the best commercial properties in Mumbai, visit our website - Jagaha!
Gizelle
Salesforce ups the Marketing Cloud ante with Datorama acquisition
Carisoprodol is used for treatment of pain.so it has some amount of drug use it carefully . Get its complete usage and prescription from ...
jensons henry
CMO profile: The strategy behind Cash Converters brand and customer experience reboot