More than 83 percent of marketing executives plan to increase their investment in the Web this year, according to a report released yesterday from WebTrends Inc.
For the “2006 CMO Web-Smart Report,” the Web analytics company polled more than 250 marketing executives to determine how much the Web would affect marketing this year and how confident CMOs and other executives are in their ability to measure online marketing performance and create an ROI mindset in their organizations.
Other key findings:
· 56 percent of executives said that the Web was either the hub of their organization's marketing strategy or that it would become the hub in the next year.
· The executives don't grade themselves or their organizations highly for their collective knowledge of Web marketing trends, strategies and technologies. On average, executives rated themselves 6.3 on a scale of 1-10. They rated their staff at an average of 5.5.
· Most of the executives plan to increase accountability by investing in training and building metrics into employee reviews and compensation.
“As online marketing continues to gain momentum, marketing executives will be held accountable for creating 'Web-smart' organizations that understand and fully leverage analytic insights to accelerate business results,” said Greg Drew, president/CEO of WebTrends, Portland, OR. “Those that truly get it are rapidly building a consolidated metrics framework to drive optimization efforts throughout their organizations and to build more targeted, meaningful and profitable relationships with their customers.”
Produced by WebTrends, the report includes marketing executives' survey responses from October to December 2005. Respondents represented a diverse sampling of business types and industries, including both business to business and business to consumer.