E-commerce Link: Back to Basic Training
Forget about 2012 predictions. I've got something more important to tell you. The facts are in: We're nearly five years into the "social media revolution" and most of us are agonizing, not revolutionizing. The global economy and financial markets are in near chaos, jobs are scarce and consumer spending remains weak.
To top it off, marketing executives are faced with the increasing din of CEOs and CFOs: "You have less and less credibility within the organization." But there is a way out, and it will take old ideas to thrive in these radical times. You should eschew cut-and-paste best practices and get back to basics—start solving customers' problems to increase leads and sales.
Marketers Against the Ropes
UK-based Fournaise Marketing Group offers the latest bad news in its 2011 Global Marketing Effectiveness Program. The firm interviewed more than 600 large corporation and small to mid-sized business CEOs in the US, Europe, Asia and Australia. The results confirm, again, what we've been hearing.
"73 percent of CEOs think marketers lack business credibility and are not the business growth generators they should be ... they are still too far from being able to demonstrate how the cross-channel marketing strategies and campaigns they deploy grow their organizations' top line in terms of more customer demand, more sales, more prospects, more conversions or more market share."
Social media stands front-and-center in the battle for credibility. CEOs report that marketers over-focus on the latest trends, "because they believe they represent the new marketing frontiers—but can rarely demonstrate how these trends will help them generate more business for the company."
Omnicom's Kern Organization released its 2011 Mid-Year Marketing Trends Study revealing how marketers believe their biggest obstacles are the goals themselves. For instance, marketers state their top marketing challenge is "acquiring a large number of new customers." Next is "increasing retention rates and revenues from current customers" followed by "Increasing the quality and quantity of leads for field sales forces."