According to an Advertising Age article that discussed a new IBM survey released today, many CMOs "believe that marketing's financial return on investment will become a key marker of success in the next three to five years." With continued economic turmoil, marketing leaders are facing increased pressure to measure their results, but faced with an overhwelming amount of data, finding the right KPI needles in the haystack of information can be overwhelming. To sift through this data overload, we are conducting research for a report on how leading marketers will be measuring success. Take our survey on ROI measurement to tell us how you are changing your ROI approach for 2012, and we'll send you a copy of the results so that you can see how others are navigating the ROI path.
As the economic malaise lingers on, a more frugal consumer mindset is spurring consumers to embrace new digital technologies to make more informed buying decisions. This shift in behavior is releasing shopper marketing from the confines of the store walls, as consumers make purchase decisions at home and on-the-go. Once a tactical outpost in the sales organization, shopper marketing is now being embraced by forward-thinking marketers like Kellogg’s and Clorox, which are focused on getting on their consumer’s shopping list before she even gets to the store. But with this new opportunity comes potential organization confusion. Where does shopper marketing end and brand marketing begin? And where should it sit in the organization? Check out my report, “Shopper Marketing Breaks Out Of The Store,” to find out how consumers' shopping habits are changing, how retailers are responding, and what it means for brand marketers.
How is your consumer shopping differently? And how is shopper marketing changing your organization? Answer here or join the discussion on The Forrester Community For CMO & Marketing Leadership Professionals here.
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.
Last week’s financial market roller coaster is so far not affecting fall TV upfront buys, which are due to convert to orders in late August/early September. MediaPost reports that media agency leaders aren’t seeing any signs of adjustments to the TV upfront buys and expect Q4 to remain strong despite economic uncertainty. Steve Lanzano, president/CEO of the TV station association TVB says, “Back-to-school consumer spending should provide a good barometer for retail spending in the upcoming holiday season . . . But at this time it is not expected that planned advertising spending will be affected."
This attention to the TV market reflects its continued advertising power position. Despite frequent proclamations of TV’s demise, the fall 2011 TV upfronts showed that it remains the go-to media for many advertisers. What is new, though, are signs that nascent TV and digital convergence is now being led by the ad sellers themselves. TV networks like Fox and The CW are following their consumers to multiscreen viewing by offering integrated video ad deals that span on-air and online. What does this mean for marketers? To stay connected with their consumers, marketers must get off of the couch and out of the living room to reach consumers through and beyond linear TV programming. Check out my report “The 2011 TV Advertising Upfronts Preview Convergence Of TV And Digital” to learn more about how these trends will affect brand marketers.
When the FBI finally captured Boston mob boss Whitey Bulger after a 16-year hunt, it did it by talking to women. Why? Because it realized that women would be more likely to have connected with his more conversational girlfriend Catherine Greig. The FBI went the traditional daytime-TV advertising route, but modern marketers should integrate social media into their marketing communications to make a more personal connection with their female consumers. Women are higher users of social media than men and have the potential to drive a brand’s reputation online because they are more connected and like to talk about brands and products. The key to making a digital connection with women is to understand their life stage and engage with them around the passion points that intersect with your brand. Brands like Kraft are leading social media, with Kraft innovating through its “Real Women of Philadelphia” campaign that uses social media as a creative inspiration. Check out my report “Engage Women With Personal And Relevant Social Interactions” to learn how to connect with your female consumer.
The recent Earth Day celebration brought a slew of often-conflicting reports on consumers’ environmental or green attitudes and behavior, such as “consumers cut spending on green,” “green worth paying more for,” “Americans hate faux green marketers,” and “[Boomers] passionate for green.” Green marketing initiatives were also everywhere, from Jet Blue’s “One Thing That’s Green” pledge to Procter & Gamble’s “My Carbon Footprint” app and Target’s eco-conscious “Refresh Your Nest” home makeover sweepstakes. Faced with this barrage of information and activities, many marketing leaders will be asking themselves what this means for their brand. Should they bide their time until the dust settles, or jump in? What about the risks of green-washing? Do consumers really care about the environment, or is it just something that they think they should care about? In truth, there is no one answer, because green marketing and green consumer behavior is changing rapidly. That being said, the expectation for companies to be more sustainable, from consumers and CEOs alike, is not going anywhere. So marketing leaders need to figure out what level of green engagement is right for their brand and their consumer.
I’m often asked how I went from marketing women’s skincare at Neutrogena to Timberland boots for outdoor guys, as they seem to be such different businesses. But for me, they have more in common than you might think. They are both strong global brands, with products you can trust and passionate, involved consumers. My passion is for figuring out what is at the heart of a brand, how consumers connect with it, and how to connect with them — understanding what those consumers have in common and where their needs are different, whether they are in Milan, Minneapolis, or Mumbai or whether they are an outdoor guy or a city woman.
At Forrester, I’m going to delve into these areas: harnessing the consumers’ voice in the marketing process; when you should listen and when you should not; the similarities — how global brands can stay true to what they are, while embracing local consumers' needs; and what this looks like in the virtual age, when global walls separating consumers in different countries have fallen down. What’s the butterfly effect of a marketing program in Shanghai on a consumer in San Francisco? What are the differences — for example, how women consume media differently than men, particularly interactive and social media, and how that affects the media mix. Finally, with so many choices, and so few dollars (or pounds or RMB), how can marketing leaders identify what return they are getting on their spend?
So here’s where I need your help. What are your brand-building challenges? What would you like to learn more about that will help you and your team connect with your consumer?