Last thoughts from the CMO summit based on comments made by various Aberdeen folks and speakers. Fundamentally, companies cannot allow their marketing to stand still. Marketing cannot afford to keep doing what it’s doing – lots of companies focus on acquisition for instance even when their data suggests that retention and selling to existing customers is more profitable. Marketing departments must challenge the status quo and the tendency to dismiss anything “not invented here”. They must take a metrics-based approach – replacing a subjective version 1.0 with a fact based process that measures outcomes.
Intuitive marketing must be replaced by scientific marketing and mass marketing with precision marketing. Dumb marketing systems with smarter ones.