Marketing Trends from The CMO Survey
Christine Moorman is the T. Austin Finch, Sr. Professor of Business Administration at The Fuqua School of Business at Duke University. Beginning in 2008 she started interviewing marketing leaders to determine their most important marketing questions and The CMO Survey has been an integral part of illuminating marketing trends ever since.
Christine shares with Drew her excitement over the future of marketing and explains that “It’s not just about number crunching, the best marketing analytics bridge the divide between human insights and hard data.” They also dive into a conversation about why performing all marketing activities well is critical to organizational success.
On this episode of Renegade Thinkers Unite, Drew and Christine discuss the importance of teaching holistic marketing to future industry leaders, current trends in marketing, and the importance of measuring marketing effectiveness.
Christine and Drew’s conversation is sure to reignite your passion for marketing, so don’t miss this episode. (Click here to listen now).
The importance of passionate marketing curriculum in academia
Marketing is the one area in business that companies cannot afford to not master. Exceptional marketing helps acquire and maintain customers which is critical to long-term success and profit. As new generations of future industry leaders are rising through the ranks of higher education, professors like Christine are setting the standards high. Throughout this episode, she explains a few of the top challenges she faces in the classroom, as well as why she enjoys instilling a passion for marketing in her students. You don’t want to miss her description of why watching her students adopt a customer-first mindset is one of the greatest benefits of her position at Duke University, so be sure to listen.
Key findings on marketing effectiveness and the top four components for measuring return on investments
One of the biggest findings The CMO Survey has uncovered is the fact that marketing efforts need the whole company’s support in order to be most effective. Christine explains that every CMO needs to ask themselves, “What place does marketing have in my company/career? How can I be the voice of the customer?” After these questions have been addressed, companies can move forward in evaluating how marketing is impacting ROI. Drew and Christine also list the top four metrics to be used in ROI evaluation: awareness based on reach, brand/brand lift, usage, and customer retention. They go into full detail on these metrics and why they’re so critical – you should hear what they have to say.
Where Christine sees future marketing trends going in the future and why she’s excited
Throughout her career in marketing, Christine has found that “It’s such a dynamic field, a full array of different people and different works.” In the digital age, marketing is an integral part of life in even more varied ways. Innovating marketing tactics are only going to become more refined over time, and marketing will continue to show up in new and impressive ways. Drew and Christine both believe that you can truly drive things forward with the deep understanding that stellar marketing can bring.
What You’ll Learn
- [1:44] Drew introduces this week’s guest, Professor Christine Moorman, Professor at The Fuqua School of Business, Duke University
- [3:42] The importance of marketing in the business education curriculum
- [7:02] Key marketing components that Christine hopes students take away from her classes
- [9:30] The difference between the tech companies and the CPGs viewed from a teaching mindset
- [13:00] Christine talks about the macro trends she’s seen since the survey was released
- [20:20] Christine explains the difference between digital marketing “stuff” and digital marketing organization
- [24:27] The future of CMOs and key questions to ask your marketing team
- [26:17] The ability to measure marketing effectiveness as shown by the survey
- [28:24] Key metrics used to evaluate marketing ROI
- [33:20] Christine shares her excitement over the future of marketing
- [35:00] The true reality of marketing done well
Connect With Christine:
- Christine Moorman’s biography page at Duke
- Christine’s Forbes profile
- Connect with Christine on LinkedIn
- Follow Christine on Twitter
Resources & People Mentioned
- The CMO Survey
- Highlights and Insights Report from August 2017 CMO Survey
- Innovative Marketing and ROI, an interview with Antonio Lucio
- Master of Quantitative Management at Duke’s Fuqua School of Business
Connect with Drew