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Best-in-class CMOs at high-growth companies have adopted agile processes that include cross-functional collaboration, yet a majority of marketing teams are still split between brand and performance marketing. Why is that?
Each team speaks their own language. Brand marketing focuses more on purpose-driven information and creative storytelling telling, while performance marketing is metrics-driven and acquisition focused to drive revenue. CMOs need the analytics to prove ROI in order to fight for larger marketing budgets.
Consumers are no longer looking to have a strictly transactional relationship with brands, and the focus should be on building connections in addition to proving ROI to fight for larger marketing budgets.
The question is: Can you do both effectively? If not, is there a happy medium?
The shift towards performance marketing
Once upon a time, brand awareness was the ultimate goal of every marketing strategy.