Examining Measurement Methods In Quest For Growth
TAMPA, FL, August 21, 2019 - The CMO Club, in thought leadership with Catalina Marketing, has fielded research among senior marketing executives across the country to create a CMO Club Solution Guide addressing “The REAL Drivers of Brand Growth in a Digital World.” The guide offers insights into the importance of marketers establishing a unified approach to measuring the efficiency and effectiveness of their multi-touch digital and traditional media efforts.
There is a business imperative to do so. According to the CMO Club study, 72 percent of those surveyed cited a business growth rate of less than 10 percent last year despite a robust economy and the mountains of consumer data at their fingertips.
According to Pete Krainik, CEO & Founder, at The CMO Club, “The biggest opportunity marketers can leverage when it comes to driving growth is effective data measurement. By getting a better handle on the results their online and offline marketing efforts achieve, they should be able to adjust their targeting and messaging accordingly to achieve stronger results. This CMO Club study shows how CMOs are making strides in developing new, more effective methods in achieving higher growth in multi-touch attribution.”
Among the study’s findings:
- 76% of the companies surveyed believe their digital efforts best drive growth, yet the majority (59%) say they would use a mix of digital and traditional media if budget was not an issue.
- 45% admit to not having a unified approach to measuring their offline and online marketing activity.
- Those that do have a unified measurement approach are more than twice as likely to report growth greater than 10%.
- 78 percent of respondents plan to make changes to their marketing mix within the next 12-18 months. Most expressed the pressing need to get a better handle on what’s working and what’s not.
In assessing the current measurement landscape, the majority of senior marketers expressed skepticism that the widely used Marketing Mix Attribution model is still relevant, even while still being heavily reliant on it. Hence, the second half of the Survey is devoted to “Finding the Best Attribution Model.”
“It’s important to close the attribution gaps between online and offline data, and to measure across all types of digital media,” said Marta Cyhan, CMO at Catalina. "Multi-touch attribution that’s tied to a shopper ID’s purchase history allows brands to build customer profiles that deliver hyper-targeted media – and even to measure the effectiveness of marketing campaigns inflight to optimize sales performance in a much more meaningful way. Net, it’s great to have all this data, but it needs to be used to its full advantage.”
About The “Real Drivers of Brand Growth in A Digital World” Study
This CMO Club Solution Guide study is the result of an in-depth study conducted by The CMO Club in thought leadership with Catalina. Seventy Chief Marketing Officers across a wide range of Business-to-Business and Business-to-Consumer companies were surveyed and in-depth interviews were conducted with CMOs from such leading companies as Daisy Brands, Illy Caffe, Mars Pet Nutrition, Molson Coors, and Pearle Vision.
About The CMO Club
The CMO Club is the world’s most engaged, inspired and exclusive community of over 850 Senior Marketing Executives who help each other solve their biggest challenges, within a candid, trusted, and sharing environment. Collaboration fueled by inspiring events and within the Digital Clubhouse raises the standard for what is required to be a successful Chief Marketing Officer. Visit thecmoclub.com
About Catalina Marketing
Catalina is the market leader in buyer intelligence and optimizing hyper-personalized in-store and digital media to measurably drive, track and measure sales lift, converting shoppers into loyal buyers for leading CPG retailers and brands. Powered by the most extensive shopper database in the world, Catalina’s mobile, online and in-store networks personalize the consumer’s path to purchase, delivering $7.9 billion in relevant consumer value each year.
Based in St. Petersburg, Fla., Catalina has operations in the United States, Europe, Japan and Latin America. To learn more, please visit www.catalina.com or follow us on Twitter @Catalina.
Wally Petersen/Catalina Marketing