Most chief marketers admit they are not sufficiently plugged into real-time social conversations about their brands. They are struggling to provide the return on marketing investments
These chief marketing officers (CMOs) recognize that a critical and permanent shift is occurring in the way they engage with their customers, but they question whether their marketing organizations are prepared to manage the change.
Those were the key results of a new IBM study of more than 1,700 CMOs from 64 countries and 19 industries.
The research found that the measures used to evaluate marketing are changing. Nearly two of three CMOs think return on marketing investment will be the primary measure of the marketing function's effectiveness by 2015. But even among the most successful enterprises, half of all CMOs feel insufficiently prepared to provide hard numbers...
Five Mistakes to Avoid When Analyzing Loyalty Card Data
Loyalty programs can provide big payoffs, but they need to be planned, executed and evaluated professionally. Most importantly, the data gathered from these card-based programs need to be analyzed correctly.
Michael Schiff, managing partner, Partners in Loyalty Marketing in Chicago, lists five common and potentially harmful mistakes when analyzing loyalty program data. They can be grouped into two types: data errors and goal-related miscues.
"In talking to retailers and manufacturers, most of the mistakes to avoid can be overcome if you put as much time into planning for the evaluation as you do into planning for the execution," he advises...
Five Mistakes to Avoid When Analyzing Loyalty Card Data
