Transcript The CMO Survey - American Marketing Association

The CMO Survey:
Updates and Questions
Christine Moorman
Fuqua School of Business
Duke University
August 4, 2007
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Completed Tasks
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Reviewed relevant practitioner and academic literature.
Interviewed 30 academic and practitioner thought leaders
(e.g., CMOs, CEOs, COO, profs, consultants)
Interview focus:
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What is marketing’s unique source of insight that can lead thought and practice?
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What do decision makers need to know about marketing in the future?
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What do nonmarketers need to know about marketer’s views and marketing
activities?
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Completed Tasks
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Synthesized literature and interviews to derive:
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Survey goals
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Survey position
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Standard survey questions
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Special interest survey topics
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Survey Goals
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Lead thinking about marketing by predicting the future of the
marketplace and marketing actions
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Rationale: This is marketers’ unique knowledge.
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Rationale: Many non-marketers need the views of marketing leaders.
Calibrate marketing thinking
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Rationale: Marketers don’t know how their ideas, strategies, organization,
and outcomes compare to other firms.
Build longitudinal data about marketing in top firms
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Rationale: Limited data exists and this limits knowledge development.
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http://www.cfosurvey.org/
Recent Broadcast Media
Recent Print Media
CNBC - Closing Bell, March 7, 2007
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Wall Street Journal, March 8, 2007
CNBC - Closing Bell, November 29,
2006
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Financial Times, March 8, 2007
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Associated Press, March 7, 2007
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Bloomberg News, March 8, 2007
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Reuters Newswire, March 7, 2007
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Columbus Dispatch, March 8, 2007
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Bloomberg TV Asia
June 8, 2006
Syracuse Post-Standard, March 8, 2007
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Accountancy Age, March 8, 2007
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CNBC - Closing Bell, June 7, 2006
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USA Today, February 27, 2007
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The Canadian Press, June 8, 2006
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Associated Press, November 29, 2006
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CNN Headline News, June 8,2006
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Reuters. November 29, 2006
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Bloomberg TV, November 3, 2006
BBC TV Asia Business Report
(broadcast from Singapore).
September 14, 2006
BBC World, June 8, 2006
Survey Positioning Dimensions
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Longitudinal vs. Cross-sectional (participants, questions)
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Objective vs. Partial to interest
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Strategic vs. Tactical
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Forward-looking vs. Historical
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Valuable to marketers and non-marketers vs. Valuable to
marketers
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Survey Position
CMO
Survey
Longitudinal (L) vs. -General questions (L)
Cross-sectional (C) -Special questions (C)
Retain informants over time
CMO Council
Surveys
Marketing Leadership
Council Survey
Cross-sectional
questions and
respondents
Cross-sectional
questions and
respondents
Strategic vs.
Tactics
Strategic
Both
Tactical
Objective vs. Partial
Objective
Pro-Marketing
Pro-Marketing
Forward-looking vs.
Historical
Mix with emphasis on
Forward-looking
Historical
Historical
Valuable to
Marketers &
Nonmarketers vs.
Marketers
Marketers and
Nonmarketers
Marketers
Marketers
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Steps in the Design Process
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AMA Coalition feedback
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Informant feedback
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CMO feedback
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CEO feedback
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Financial analyst feedback
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Marketing knowledge/service provider feedback
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News organization feedback
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Operational Issues: Current Thinking
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Survey incentives
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Customized feedback promised
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Help develop a thought-leadership role for marketing
Survey implementation
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Once or twice a year
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Likely follow CFO web/mail model
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Database of top marketing officers currently being developed from Fortune
1000. Business unit officers will be included when relevant
USA (Y1-Y3), Europe (Y4-Y5), next steps
Privacy key
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Your Assistance
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Question topics
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Goal: Narrow to 5-7 depending on number of questions
Rationale: Larger than CFO survey because once a year; however, not fatiguing
(15 mins. max)
Specific questions
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Goal: Narrow number of questions to most impactful set
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Question Areas
1. Predictions of Marketplace
Dynamics
2. Predictions of Spending on
Marketing and Growth
7. Marketing Portfolio
8. Marketing Function
9. CMO and Firm Characteristics
3. Marketing Performance and
Goals
4. Marketing Knowledge
Investments
5. Marketing-HR
6. Marketing & Society
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(1) Predictions of Marketplace Dynamics
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Marketing predictions
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Customer predictions
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Competitor predictions
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Intermediary/partner predictions
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Marketing Predictions: General
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Are you more or less optimistic about the marketing
prospects for your company compared to last year?
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Scale: More, less, no change
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Question is similar to the CFO survey which asks about financial prospects
Are you more or less optimistic about the marketing
prospects for your company?
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Rate your optimism on a scale from 0-100 with 0 being the least optimistic and
100 being the most optimistic
Question is similar to the CFO survey which asks about financial prospects
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Customer Predictions - Specific
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Which direction will the following
customer indicators in your
industry move in the next year?
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Increase, decrease, stay the same
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% change
Focus on price, quality, innovation, and
service
Loyalty
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Level of response to marketing efforts
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Speed of response to marketing efforts
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Use of technology to interact with firms
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Ratings:
Demand levels
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How valuable marketing is to the
customer
How valuable marketing is to society at
large
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Competitor Predictions
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In the next 6-12 months, which
direction do you anticipate
competitors in your industry will
take the following actions?
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Ratings:
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Increase, decrease, stay the same
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% change
Focus on price, quality, innovation, and
service
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Imitate your firm’s marketing approaches
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Introduce new marketing approaches
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Enter new markets
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Introduce new products
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Intensity of rivalry
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Intermediaries/Partner Predictions
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In the next 6-12 months, how
likely is it that your partners will
engage in the following activities?
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Ratings:
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Increase, decrease, stay the same
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% change
Focus on price, quality, innovation and
service
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Information sharing
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Commitment to the relationship
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Outsource some of the services they
perform for you
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(2) Predictions of Spending on Marketing
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Relative to the previous year,
rate your firm’s % change in
spending during the next year?
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Relative to the previous year,
rate your firm’s % change in
spending for growth during the
next year?
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Overall marketing
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Web-related marketing
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Traditional advertising
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CRM activities
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Branding
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Building knowledge about marketing
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Channel relationships
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Partner relationships
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Marketing training
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Marketing research
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Current markets, services, products
New products developed by your firm,
acquired by your firm, licensed by
your firm, developed through
partnerships
New services developed by your firm,
acquired by your firm, developed
through partnerships
New markets developed by your firm,
acquired by your firm, reached
through partnerships
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(2) Predictions of Spending on Growth
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Relative to the previous year,
rate your firm’s % change in
spending for growth during the
next year?
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New services:
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Current markets, services, products
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New products:
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Developed by your firm
Developed through partnerships
Acquired by your firm
Licensed by your firm
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Developed by your firm
Developed through partnerships
Acquired by your firm
Licensed by your firm
New markets:
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Developed by your firm
Developed through partnerships
Acquired by your firm
Licensed by your firm
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(3) Marketing Performance/Goals
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Rate your firm’s % change in
performance on the following metrics
during the last year?
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What % change in performance do
you expect on the following metrics
during the next year?
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Revenue Growth
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Revenue Growth
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Margin Growth
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Margin Growth
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Marketing ROI
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Marketing ROI
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Firm Profit
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Firm Profit
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Market Capitalization
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Market Capitalization
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Tobin’s q
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Tobin’s q
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Market Share
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Market Share
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Customer Satisfaction, Customer
Retention, Customer Acquisition
Brand Equity
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Customer Satisfaction, Customer
Retention, Customer Acquisition
Brand Equity
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(4) Knowledge/Learning
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Rate your likelihood of using the following services to build
knowledge about any aspect of marketing in the next year:
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Internal marketing research units
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Internal marketing consulting units
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Marketing research firms
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Marketing consultants
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Advertising agencies
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Academic consultants
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Non-university Executive Education training programs
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University Executive Education training programs
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In-house training
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Executive MBA programs
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(5) Marketing-HR
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In the next year, what is the % change in your firm’s hiring in
each of the following areas:
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In the past year, rate how easy or hard it has been to
acquire the marketing employees you need and want.
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Marketing, marketing analytics, sales
Very easy to very difficult
In the past year, rate how easy or hard it has been to retain
the marketing employees you need and want.
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Very easy to very difficult
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(6) Marketing & Society
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Rate the level of importance your firm’s marketers place on
what is good for society in your decision making?
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Very important to not at all important
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(7) Marketing Portfolio
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In the last year, how many different separate products or
services did your firm offer?
In the last year, how many different segments of customers
does your firm target?
In the last year, how many separate marketing plans did
your firm develop in the last planning cycle?
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(8) Marketing Function
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Rate the degree to which nonmarketers in your firm would
agree with the following statement: “Half of my marketing
budget is working; I just don’t know which half.”
How many current high-level managers in your firm have
come through marketing?
How many direct reports to you have?
If your firm were to experience an earnings disappointment,
how likely would your CEO be to phone you for solutions?
Where is marketing located? Business unit level, brand or
product level, field offices, corporate (check all that apply)
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(9) CMO and Firm Characteristics
CMO Characteristics
Firm Characteristics
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To whom do you report?
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Number of marketing employees
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What is your formal title?
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Number of employees
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Years with current firm in this role
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Industry sector
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Years with current firm in any role
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$US revenue
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Years of education
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$WW revenue
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Years of work experience
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ROMI
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Demographics
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Special Survey Topics (5-10 Questions)
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The role of marketing in growth
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The role of the channel
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Brand building
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Marketing and sales
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Knowledge and knowledge
relationships
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Impact of technology on marketing
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Metrics, SOX, Marketing-Finance
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Customer insight tools
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International and emerging markets
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Relationship management
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Compensation
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Mix of media used by firms
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HR: Marketer competencies/Skill
sets
Privacy, ethics and social
responsibility, including green
Segmentation and Positioning
Women and minority marketers:
Hiring, retention, work atmosphere,
high level managers
The role of marketing in the firm
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Comments
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Please email additional feedback and suggestions to
[email protected]
Thank you very much
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