What Do CMOs Value: Insights from the CMO Spotlight

During a week at Cannes, every morning featured a section named "CMO Spotlight," where high-level CMOs from various companies shared their insights. What can we learn from their discussions?

FACT in 2024 Marketing

With the increasing importance of e-commerce, advertising spending across different platforms has also surged. The three CMOs highlighted the critical issue of measurement. Establishing KPIs and determining the standards for their success is crucial. Since communication among C-suite executives is vital, it's important to translate metrics like "likes" and "clicks" into dollar terms that CFOs can understand. Analyzing data also helps us understand the reasons behind our actions and decisions.

Get a Quick Win

The CEOs emphasized the need for quick wins within their brands. In marketing efforts, it's recommended to follow a 70-20-10 rule: 70% of efforts should be things that are sure to work, 20% should be things that might work, and 10% should be experimental. This approach ensures a solid foundation while allowing room for potentially groundbreaking marketing strategies.

In conclusion, CMOs in 2024 focus on precise measurement and quick wins. By setting clear KPIs and converting social media metrics into financial terms, they can communicate effectively with other C-suite executives. Additionally, balancing tried-and-true methods with innovative approaches allows for sustainable success and potential breakthroughs.