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As a lifelong Cubs' fan, like many others in Chicago I'm hoping that Epstein will finally lift the curse that‘s followed the team and produce a World Series champion. These expectations are fueled by the ongoing saga of trying to complete the deal for Epstein, along with the high price the Cubs paid to bring him into the fold. Add to that the team's big payroll and you can see why everyone is expecting better performance A Forrester Research study, "Bigger B2B Marketing Budgets Come With Great Expectations" raises similar issues for marketers. The report noted that after several years of making cuts, B2B marketing leaders have larger budgets in 2011. However, with these increases in spending comes more scrutiny and greater expectations for results. Another parallel between the Cubs and B2B marketers is that the raised expectations are coming during a time when the landscape for both baseball and marketing is dramatically changing. In baseball, traditional scouting and player development is being replaced with a greater reliance on data analysis and computer-generated metrics. Part of the reason Epstein was hired is his skill in using these new tools. In fact, one of the issues surrounding his hiring was the status of a computer program for player evaluation that Epstein developed. He was so enamored with the program that he nicknamed it Carmine. Likewise, marketers are facing new challenges to effectively understand how to track, manage and apply many of the new social media tools, online marketing channels and changing customer expectations. These challenges are explained in more detail in the CMO Council report, "The 2011 State Of Marketing: Outlook, Intentions and Investments." The report gathered the insights of more then 750 CMO Council members. In many ways, the report echoed the Forrester study. In the CMO Council report, 57% of senior-level marketers say they are increasing their overall marketing spend in 2011. The also reported that as marketing budgets increase, the key management mandate to marketers is to drive top-line growth and market share while better defining the brand and value proposition. Topping their "to-do" list were three critical initiatives:
The bottom line, though, is that much like Epstein used Carmine to bridge the gap between traditional baseball methods and computer analytics, marketers must integrate conventional techniques with new online tactics. Marketers need to better understand the impact marketing and technology integration can have in making customer experiences more gratifying and satisfying, thereby improving loyalty, retention and repeat purchases. Norwin A. Merens is managing director of Glenview, IL-based NM
Marketing Communications, an integrated B2B marketing, public relations
and trade show/ special events management firm. He may be reached by
calling 847.657.6011 or at nmerens@nmmarketingbiz.com. Find out more at www.nmmarketingbiz.com
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