65% of CMOs and marketing leaders can not quantify the business impact of their marketing efforts.
Let that sink in for a moment. According to the semi-annual CMO Survey, only 35% of companies can quantitatively measure the sales and revenue generated by their marketing efforts.
These are marketing professionals with the teams and resources needed to measure their marketing efforts. Yet they still struggle to measure the ROI of their marketing budgets.
If the seasoned professionals struggle with marketing measurement, how are small and medium sized businesses supposed to compete?
The 5 most common pain points in digital marketing
In this series of posts, I am going to lay out the most common pain points that our clients describe when they initially contact us. More often than not, their root issues stem from asking the wrong questions or holding the wrong assumptions, rather than a lack of knowledge or capabilities.
I will also share the planning tools and resources we use to ask the right questions and build measurement models to help our clients understand and quantify the revenue and sales impact of their marketing efforts:
- We don't know if our marketing is working
- Competitors are taking our market share
- We need more data
- We have high agency or team turnover
- We are reactive rather than proactive
I have a lot to share on each of these topics so check back often for links to new posts as they are published. Want to get them in your inbox? Sign up here.
Budget the Workshop way.
Workshop Digital is hosting an upcoming webinar on Tuesday, October 6. Your Roadmap to Planning Digital Marketing Budgets for 2021 will review how marketers across different sectors are forecasting their spend—and specific tools and resources you can use to gather consumer information and trends.
Ultimately, our webinar will provide a roadmap you can use for your 2021 digital marketing goals and budget. Sign up below.
Build a predictable budget for an unpredictable future.
Our webinar reviews how to forecast your digital spend—so you get the most mileage from your marketing efforts.