According to a recent CMO survey, marketers allocate 57% of their budgets to digital marketing and are planning to increase spending in 2023. However, they are reaping average-to-no returns on their investments. Why the lackluster performance? Digital marketing is nascent to most organizations. In order to be successful, it needs to be fully integrated across the company and used to drive business decisions, not just a checkbox. Furthermore, marketing teams are typically not data analytics experts, nor masters of converting data into actionable plans. While there are many other reasons, we believe that a viable approach to improvement is to double down on strategic-level experimentation as a necessary, ongoing process. Please reach out to me to discuss how to evaluate and improve the impact of your digital marketing investments.
