CMO Talk: What If Everything You Knew About Marketing Changed?

Click to enlarge. The practice of marketing is going through a period of unparalleled change, putting CMOs everywhere to the test. However, you can seize the opportunity to transform your marketing function. The combined insights of the 1,734 senior marketing executives participating in IBM’s Global CMO study point to three strategic imperatives that can strengthen your likelihood of success, as outlined in the graphic above.

Contrary to popular opinion, we don’t all know one another at IBM.

I know, I know, it’s hard to believe, considering there’s only 400,000+ plus of us — you’d think we all knew one another, but we don’t.

But the good news is, we’re always making new acquaintances inside IBM.

That was the case at the Word of Mouth Marketing Association Summit I attended last week in Vegas, where I finally got to meet face-to-face my colleague, Carolyn Heller Baird.

Carolyn is situated in IBM’s Global Business Services organization, and for the better part of two years, Carolyn served as the Global Director for our Chief Marketing Officer study, which was released late last year (and for which I wrote an extensive blog post, which you can find here.)

Carolyn was also in attendance at WOMMA, where she presented the CMO findings in some detail before a sizable audience.

I sat down with Carolyn to talk about the study’s findings in more detail, and to also try and better understand the implications for marketers in general, and social media practitioners in specific.

Before I hand you off to our interview below, I want to highlight the fact that the study results are still available via download here.

As the study concluded, half of all CMOs today feel insufficiently prepared to provide hard numbers for marketing ROI, even as they expect that by 2015, return on marketing investment will be the primary measure of the marketing function’s effectiveness.

There’s a gap to close there, and Carolyn’s comments in the video provide some actionable insights on to how to start to close it!

Austin’s F1 Debut Gets A Checkered Flag

Britain’s Lewis Hamilton celebrates his Formula 1 victory in Austin yesterday Texas style, after overcoming two-time world champion Sebastian Vittel in a sneaky pass that Vittel never could recover from. Austin’s F1 race was the first held in the United States since 2007, and the first at Austin’s new “Circuit of the Americas” track. Over 200,000 fans from around the globe attended this first-of-its-kind event in Austin, many of them giving our fair city glowing reviews. To which I say, this was only our first, and it will only get better from here. (Photo: Getty Images)

Myself, along with a lot of other Austinites, learned quite a bit about Formula 1 racing over the weekend.

Though I didn’t get out to the track myself, I watched the entire race on TV.

Of course, I also did a bit of research leading into the race, and also interacted with some experts via social media during the race, which made the experience all the more helpful.

My general impressions are wow, those are some bad *** cars! What really struck me about F1 was the “Formula,” where the tinkering with the cars is limited mainly to that, so the focus is instead on strategy and tactics by the “constructor” crews and the drivers themselves.

One tank of gas, two sets of tires, the track (in this case, the “Circuit of the Americas”), and your pit strategy.

That seems to me to equalize the competition in a way you don’t see in every sport, making the viewing experience that much more compelling.

Lewis Hamilton from the U.K. took the top of the podium, forcing Sebastian Vettel to wait until the 20th and final race of the season to determine whether or not he’ll go “back to back to back” and win three straight F1 championships.

As for Austin’s ability to host an event of this size, so far, the reviews are pretty flattering. We were expecting over 200,000 people over the long weekend, and despite the expected traffic challenges, the event went off quite smoothly.

The virgin track certainly had some gripping challenges, but that actually made for a more scintillating race, and certainly didn’t keep the drivers from doing some aggressive passing. And the weather was simply perfect.

To my mind, it really starts to cement Austin’s reputation as an “international” city, and I’m looking forward to our hosting future races.

As for me personally, it’s official: I’m a converted F1 fan, and will be making it even more official by adding a new section to MyESPN home page!