Budget season is upon us. With a rapidly changing media landscape, many marketers are re-evaluating how they allocate their marketing dollars. How is your budget changing for 2012? Will you take back TV dollars? Spend on social? Move more to mobile? Invest in innovation? I'm writing a new report that will take a look at marketing budget plans for 2012 to help marketing leaders understand how they should benchmark their budgets. Please take a 10-minute break from your email overload to take our survey and tell us your plans. What's in it for you? Take your choice of one of our top summer reports and a copy of the survey results — your own direct line into what your colleagues are planning.
In today’s fast-paced global economy, examples of how empowered customers and citizens use social technology to influence everything from brands to governments are all around us. The Arab Spring clearly shows the ability of technology to empower people. In this new digital age, marketing teams must react at the speed of the market: Product development life cycles that used to last many years are compressed into months or weeks; customer service expectations have moved from same-day response to instant response; public relations snafus must be handled in minutes rather than days; marketing campaigns are adjusted in real time based on instant feedback from social media. In this new era, mastering customer data becomes the key to success and, in my opinion, represents the biggest opportunity for IT to impact business results since the dawn of the Internet.
During the first week of June, we had one of our quarterly Sales Enablement Leadership Council meetings in Barcelona, Spain. (A leadership council is comprised of executives from leading companies who work with us to set the direction for the near-term and long-term role of sales enablement.) For an entire day, we discussed the application of Forrester’s SIMPLE framework, which is a model designed to help combat the random acts of sales support that persist within most B2B companies, to common sales enablement leadership challenges.
The sheer volume of insight, ideas, new research topics, and techniques shared during that session was tremendous – far too much to share in one blog post. So, I am going to pick two issues that came up.
First off, Tamara, I hear you. I was told point blank that I need to participate in the social community more. I’m going to make a more dedicated effort to do this moving forward, but I need your help. Please tell me what you’d like me to share and how. Honestly, I get a little caught up around the axle about the many deliverable formats I’m responsible for (research reports, teleconferences, conference presentations, facilitating council meetings, client deliverables, etc.) so I would love the coaching from the community on what would be the most useful.
Secondly, at the beginning of our council meeting, we had a good discussion about where the sales enablement profession is heading. I’ve written a very detailed document defining the scope and role of sales enablement strategically, but there is an easier way to summarize the trends based on how you define the word “sales.”
Forrester recently published the “State Of Retailing Online 2011: Marketing, Social, and Mobile” report in conjunction with our friends at Shop.org. It is available on Shop.org (with a subscription) now.
Some highlights include:
Understanding which marketing tactics are still leading to growth.
Examining the investment in social and the returns retailers are seeing.
Analyzing mobile and tablet adoption and strategy.
This week I was the lone IT analyst attending Forrester's Marketing Forum (Twitter #fmf11). Although I was there because much of my research overlaps with my colleagues covering marketing roles, I can't help feeling CIOs are missing out by not attending this event.
For many years I have believed that a successful CIO must understand marketing -- especially if he/she ever aspires to the CEO or COO role. Although today's marketing professional is more dependent upon technology than ever before, marketing is too often the part of the business least understood by IT.
With awareness comes understanding: which is why I think it is essential for IT professionals, and especially CIOs, to attend conferences like the Marketing Forum. These events help develop a much greater understanding of the challenges faced by the marketing professionals in your organization -- and will no doubt stimulate many new ideas about how IT can help.
Here's just a sampling of some of the thinking heard at the Marketing Forum this week in San Francisco:
We heard from Practice Leader David Cooperstein that CMOs are suffering a crisis of confidence: most feel they don't have enough budget, executive support, or marketing technology to meet the new digital challenge. (The CIO message: your CMO shares your pain.)
I am excited! Not just about the fact that Forrester's Marketing Forum is just around the corner. I am excited because I just got to spend some time with Ross Martin, the energetic executive vice president (EVP) of MTV Scratch. His team is a center of innovation at MTV for helping marketers connect with millenials, and his enthusiasm for the next digital decade is palpable. If you are coming to the Forum in San Francisco next week, you will get to hear Ross and his client and counterpart Jim Trebilcock, CMO at Dr. Pepper Snapple (DPS) Group, talk about the nationwide launch of Sun Drop soda that kicked off a few weeks ago.
Not to spoil that story, here are some of the things Ross and I discussed about the future of marketing:
DC: Given what you have done with DPS, what do you see as the future agency model? Can media companies replace agencies?
RM: We see new and inspiring work from agencies every day and have been lucky to collaborate with some great partners. Much has been said about the challenges agencies face with so many new models emerging. We believe these new models will continue to evolve, as agencies large and small pursue new ways to serve their clients.
Great agencies will look to capitalize on the strengths of media companies in both traditional and nontraditional ways — from ad sales and integrated marketing to the kinds of services Scratch offers, such as design and product planning, retail activation, creative execution, social media, marketing strategy, and more.
SAP Has Managed A Turnaround After Léo Apotheker’s Departure
In February 2010, after Léo Apotheker resigned as CEO of SAP, I wrote a blog post with 10 predictions for the company for the remaining year. Although the new leadership mentioned again and again that this step would not have any influence on the company’s strategy, it was clear that further changes would follow, as it doesn’t make any sense to simply replace the CEO and leave everything else as is when problems were obviously growing bigger for the company.
I predicted that the SAP leadership change was just the starting point, the visible tip of an iceberg, with further changes to come. Today, one year later, I want to review these predictions and shed some light on 2010, which has become the “Turnaround Year For SAP.”
The 10 SAP Predictions For 2010 And Their Results (7 proved true / 3 proved wrong)
The words of "War," Edwin Starr's 1969 Motown classic, began ringing in my head this morning. It was brought on by a Harvard Business Review blog post by Steve W. Martin, "Why Sales and Marketing Are at Odds — or Even War." Within tech vendors, sales and marketing teams often fail to communicate or align go-to-market strategies. Forrester's sales enablement visionary Scott Santucci discussed the different languages of sales and marketing in his blog over two years ago. As for my own experience with sales and marketing:
A few years ago, I sat with the chief marketing officer and chief sales officer of a Fortune 100 tech vendor. The conversation didn't focus on customer problems, which should be the starting point for sales enablement professionals. The conversation didn't focus on sales efficiency issues such as sales cycle duration or win rates, which should be critical imperatives for all sales and marketing professionals. Each of these executives controlled massive budgets but neither one sincerely trusted the other. Their words were about aligning sales and marketing programs, but the real conversation, when read between the lines, was about control, boundaries, and politics. They were at war!
Lesson No. 1: Paid and earned integration is the key to a successful social campaign. Paid support plus a motivated audience to amplify the message equals success in building earned media and awareness.
Lesson No. 2: Adaptive Marketing means you need to be flexible. The world has changed, and marketing is not only always on but also increasingly unpredictable.
Lesson No. 3: Lose Control. It is something you need to give up willingly.
Are you ready to handle this truth? Tell us about your brand, what you would like to accomplish in this ever-adapting world of marketing, and how social media can contribute by commenting below.