CMO as Business Strategist, Local Digital Ad Revenue
How can “CMOs stake their claim as growth drivers within organizations—and not merely ad-campaign custodians?” Forbes recently hosted a CMO as Business Strategist salon, an eye-opening round-table discussion among many influential CMOs. Participants agreed the CMO role includes being a change agent, a unifying force between departments and an educator as it relates to justifying costs, evaluating resources, keeping a pulse on the industry and identifying the overall best strategies for the company.
According to a recent BIA/Kelsey report, U.S. local digital ad revenues will grow from $21.2B in 2011 to $38.5B in 2016 (CAGR: 12.7%). This growth is outpacing the overall local media market; slower overall growth is attributed to various economic factors. These findings prove that marketers continue to find value and confidence in the digital space, despite economic turbulence. With this growth, marketers need to push themselves to continually evolve, while simplifying complex media decisions and processes. Read More:U.S. Local Digital Ad Revenues Remain Strong, Bolstering Slower Growth Overall in Local Media Market, According to BIA/Kelsey