There’s a silly old song that has been used on TV for years—going all the way back to early black-and-white days. It goes, “We get letter, we get letters, we get stacks and stacks of letters.”
CMO.com, on the other hand, gets surveys—stacks and stacks of surveys. If you are a subscriber to the site, then you know that we even occasionally reach out to you to participate in these surveys. We also get the results of such research sent to use regularly. When it seems to be of interest, I like to share it with you, and one came along the other day that I thought worth a look. It’s called “2013 State of Marketing Measurement Survey” (PDF), and it was conducted by Ifbyphone, a voice-based marketing automation (VBMA) vendor.
According to the survey, there is increasing “CEO support for marketing as the new growth engine”—something that we’ve been hearing more and more about lately. While the CMO/CIO connection remains a strategic one, savvy CEOs are beginning to realize there’s gold in them marketing hills. Says the report: “A primary trend from the 2013 research is the level of support, and scrutiny, that marketers are receiving from their CEOs around marketing measurement as a growth engine. Two thirds of CEOs surveyed have significant influence in marketing decisions and half receive regular marketing measurements. In fact, one in ten CEOs seek marketing measurements daily (9.2 percent) while one in five (19.7 percent) are receiving updates weekly.”
Additionally, there appears to be more dollars coming marketing’s way. “Investment in an emerging generation of marketing measurement tools is needed to satisfy the CEO’s increasing demand for tracking data. In order to facilitate this, budget growth and additional marketing resources are being provided. Possibly as a result of the increased focus from the CEO and the growing role marketing has as a growth engine, almost half of respondents (45 percent) reported an increase in their marketing budgets in the past year while only 12 percent are working with a tighter marketing budget.”
Finally, the report discusses the emergence of what Ifbyphone calls “the Growth Hacker.” This is a champion of marketing measurement—marketers who combine marketing knowledge with a strong technical background to drive growth.” These new hires, says the report, are having a real impact on improvements in marketing measurement: “One quarter of respondents (25 percent) now have a Growth Hacker on their marketing team, the same percentage that have Product Managers. Marketing teams with Growth Hackers are prioritizing investments in emerging marketing measurement technology, across both online and offline channels.”
Now, this is, yet again, but one survey, so take it for what it’s worth. But I think there are some interesting trends being reported here that should be taken seriously. I bet your CEO thinks so, too.