A recent survey of 100 chief marketing officers by The CMO Club in partnership with IBM found that ‘57% of respondents indicated their budgets would increase over the next 2-3 years’. This statistic is in addition to the findings that ‘Overall, marketing budgets were reported up, due to either strategic funds or strong organic increases, but so are expectations. Furthermore, CMOs are planning to increase their spending across every stage of the buyer journey over the next two years by an average of 50%’.
According to the Oxford dictionary, the definition of specious is ‘superficially plausible, but actually wrong’. For those of you who are fans of the Simpsons, you may remember the episode where Lisa uses specious reasoning to sell Homer a rock which apparently keeps tigers away. Her comeback when Homer asks how the rock works is a simple one… “It doesn’t work, it’s just a stupid rock, but I don’t see any tigers around here”. And this got me thinking, are marketers using specious reasoning instead of ROI to justify their worth?
On Thursday, January 2nd 2014, a fictional marketing manager named Mary returned to her office to continue on from where she’d left off in 2013. Surrounded by her small team of enthusiastic marketers, her company was more than capable of spreading their marketing messages via email, direct mail and across multiple social media channels. But things wouldn’t be this simple for long.