94% OF CMOS SURVEYED BELIEVE THERE IS A CONNECTION BETWEEN CORPORATE REPUTATION & BRAND PERFORMANCE
The CMO Club in thought leadership with PR Council develops new research sharing CMO insights in Brand Building & the Growing Role of PR/Earned
The CMO Club in thought leadership with the PR Council created The CMO Club Solution Guide – Navigating the New Normal Utilizing Earned Media & Earned Influence which explores how marketers are incorporating earned media into their overall integrated marketing mix. Results are based on a recent survey of CMO Club Senior marketing executive members, who range from business-to-consumer and business-to-business brands across all verticals. In addition, one-on-one interviews with senior marketing and public relations executives of leading consumer and business brands including HP, Princess Cruises, REI, Sprint, Dow; and PRC member firms Hotwire, Weber Shandwick and M Booth provide in depth insights on the topic.
“We are living in a ‘new era of the unthinkables.’ An era where practices are no longer recognizable from a mere five to 10 years ago; where brands and corporate executives take stands on polarizing issues; a place where opinion leaders emerge from what seems like obscurity; and influencers are deemed more credible than the national media. Marketing communications professionals are working hard to navigate and understand this new normal,” explained Pete Krainik, CEO & Founder, The CMO Club.
Today’s ever-changing landscape of new technologies, economic uncertainties, and evolving social and digital channels has created a new world order of branding. The research revealed three key takeaways:
- Brand and corporate reputation are intertwined, with 94 percent of respondents agreeing or strongly agreeing that there is a connection between corporate reputation and brand performance.
- Marketing integration is strong, and CMOs are seeing proof of this when integrating earned media with paid and owned.
- Activity thrives on partnerships. Over 76 percent of respondents claim they are partnering more with their corporate communications team and/or agency communications/public relations counselors to help address issues that may or may not impact a brand’s reputation.
Brands’ consumers and stakeholders are consuming media and interacting with brands in different and new ways, which has caused 85 percent of CMOs to change their marketing mix in the last two years. And despite the fact the it is increasingly acknowledged that earned media is needed to amplify campaigns and assist in brand and corporate reputation, 65 percent of respondents allotted less than 10 percent of their budgets to public relations and/or media.
“We engaged in this research as it’s become clear that as the marketing and communication departments are working more closely together within the enterprise, CMOs are discovering the power of earned to deliver,” said PRC President, Renee Wilson. “This is leading to increased engagement with PR and communications agencies. We wanted to understand more about this evolution as the marketplace is transforming.”
The CMO Club Solution Guide can be downloaded here: CMO Club Solution Guide Link via thecmoclub.com