5.18.17 — This week’s #TBT is titled, “CMO Or SCHMO? Clinging To Old Marketing Models May Be Hurting Rather Than Helping Drive Growth.” I posted this on Forbes.com on 12/19/16. The article is timely in light of several recent developments: Coke’s decision to eliminate the CMO position, lawsuits filed against Google and and Facebook over phony metrics or fraudulent clicks, and the announced decreases in ad budgets by P&G and Unilever.
I detailed in the article how the Coke CMO told a conference that his firm received a return on every dollar spent of $1.26 for digital and $2.13 for TV. I questioned these figures, and now I question whether he should have made the presentation to the CEO of Coke and their board to save his position. Perhaps he did and they weren’t buying those metrics either.
I end with the advice for marketers to move beyond old measurements and models, steer clear of theoretical attribution models and focus on real consumer analytics. Hopefully this message is getting though to some.
Click here to read the article.